We explain what industrial capitalism is and what its characteristics are. In addition, we tell you in what historical context it arose.
What is industrial capitalism?
In economic history, industrial capitalism is the stage of development of the capitalist system of production that corresponds to the advent of the First Industrial Revolution (between the 18th and 19th centuries), and which replaced the so-called commercial capitalism of the moment.
The fundamental feature of industrial capitalism was the replacement of artisanal production methods through the use of machinery, which allowed mechanized production that went hand in hand with scientific and technological development. This means that Production became faster and more efficient through the implementation of industrial machines and that said replacement became increasingly greater as new and better machinery was invented.
The impact of industrial capitalism on the world was enormous. The success of your model gave economic predominance to highly industrialized European countries such as Great Britain, Germany and France, far above the world's agricultural powers. This brought with it an important migration from the countryside to the cities and the transformation of the old peasantry into the working class, as well as the abandonment of artisanal methods of industrial production. The new technologies of the time, such as the steam engine, were of great importance in this.
industrial capitalism It was replaced in the 20th century by financial capitalism and computer capitalism or digital, a key process for the construction of a globalized economy like the contemporary one.
Historical context in which industrial capitalism emerged
The starting point of industrial capitalism is located in 18th century England, with the arrival of the first spinning machines in the textile industry capable of replacing numerous simultaneous workers, such as John Kay's flying shuttle (1733), James Hargreaves' Jenny spinner (1764) or Richard Arkwright's hydraulic spinner (1769).
The impact of these machines on textile production demonstrated the possibility of applying science and technology to the improvement of work tools, an essential idea in the contemporary world. In fact, At the beginning of the 19th century, Newcomen and Watt's steam engine made its way not only to industries, but also to transportation of people and goods, through the locomotive and steam ships. A new industrial world, much faster, more efficient and massive, began to be built then.
Main characteristics of industrial capitalism
Among the main features of industrial capitalism, the following stand out:
- Abandonment of the traditional agricultural world in favor of the urban world of the new rising social class, the bourgeoisie. This is how the international working class emerges.
- The implementation of machinery in productive work It brought with it the abandonment of artisanal and traditional methods of producing goods, and the first steps were taken towards mass production and the modern consumer society (cheaper and mass production).
- The steam engine was one of the great actors of this period, since it brought with it new and more efficient forms of transportation (the locomotive, the steam ship, even steam automobiles), which allowed the rapid transfer of goods over long distances, and with this the development of traditionally remote regions.
- Increase in international productive indicators and massive creation of new private productive enterprises. The competition between the powers also focused on the control of technology (industrial patents) and the promotion of their products and companies abroad.
- Coal was the main source of energy with which to feed the nascent industries and means of transportation, which made it a raw material in high international demand.
- The establishment of the international working class It allowed the creation of a new class feeling, which would later take shape in the different aspects of socialist and anarchist thought.
Continue with: Third industrial revolution
References
- “Industrial capitalism” on Wikipedia.
- “Industrial capitalism” by Mariela Kich in ELE Plataforma Educativa Chaqueña (Argentina).
- “Industrial Capitalism” at Encyclopedia.com.
- “What is 'Industrial capitalism'?” on Stack Exchange.
