Factors that contributed the rise of factory system (industrial capitalism)
TRANSITION FROM COTTAGE SYSTEM TO FACTORY SYSTEM
CAPITALISM Refers to the class mode of production consisting of the capitalists who own the major means of production and the workers or proletarians that are deprived of the means of production in order to get profit. Feudalism did not collapse at once; the decline was a gradual process which was caused by various factors.
Factors that contributed rise of factory system (industrial capitalism)
- Growth of population.
There was a rapid increase in population especially in Britain at the end of the 15 th C; this increase was caused by better medical facilities and early marriages. In 1485 AD, Britain had three million people. This increase in production contributed to the rise of capitalism by providing a ready market for manufactured goods and cheap labor in industries.
Also increased population facilitated cheap labor in industries, leaving rural areas hence decline of feudalism and rise of capitalism.
- Growth of towns.
The Growth of towns for example Manchester and Liverpool contributed to the rise of industrial capitalism. These towns attracted many people who undertook trade and commerce which contributed to the demise of feudalism.
- Agrarian revolution.
The improvement of agriculture contributed significantly to the collapse of feudalism. The changes in agriculture for example crop rotation and the use of machines led to increase in production. The Increase in production led to acquisition of wealth which was used to finance the industrial revolution hence rise of capitalism.
- Political revolutions.
Political revolutions e.g. the English revolution of 1640 and the French revolution of 1789 contributed to the rise of capitalism. These revolutions destroyed feudalism and put the major means of production in the hands of capitalists hence leading to the rise of capitalism.
- Commercial revolution.
Refers to fundamental changes which were characterized by the development of international trade and the rise of merchant class. Through international trade, European countries especially Britain acquired a lot of capital which was used to finance the industrial revolution, thus the rise of capitalism.
- Monetization of the economy.
The Introduction of money as a medium of exchange played a great role in the rise of capitalism in Europe. Money formed the basis of capitalism by financing the industrial revolution, thus the rise of capitalism.
- The Hundred year war.
The war was fought between the British and the French, during the course of the war British plundered French towns and enriched themselves. This was a form of primitive accumulation of capital which contributed significantly to the rise of capitalism.
- Scientific and technological revolutions.
The Scientific revolution refers to major technological changes that took place in Europe and paved the way for the rise of capitalism. The Revolution led to the expansion of commodity production which led to the development of internal trade that contributed to the industrial development thus the rise of capitalism.