Industrial Age and Ascent of Private Enterprise

Introduction

As the society moved on, its economic, political, and ideological systems transformed, and nowadays they are in the process of another transition. The world evolved from the archaic primitive forms of organization and interaction and now it faces numerous inevitable changes, introduced by the technological era. However, while trying to forecast possible outcomes of this change, it might be reasonable to examine the previous transitional shifts and reveal some common patterns inherent to each transformation phase. The Industrial Revolution, caused by technological developments, was followed by plenty of economic, ideological, political, and social changes, it designed the institutional infrastructure of the modern countries while defining the fall in one economy and the rise in another.

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The point of this course venture is “the effect of the Industrial Age and the ascent of private enterprise.” This theme was picked as a result of the solid conviction that the reflections about the past and consistent paralleling of the past encounters with the cutting-edge ones are the routes to a more profound comprehension of the present world establishment. From the Industrial occasions, the general public has changed its attitude in various circles ordinarily as of not long ago, however, the present undertaking will concentrate on the impact this period had on the contemporary perspectives about cash, riches, and business. In this day and age fixated on material qualities evaluating the foundations of this enslavement appears to be a topical undertaking. The meaning of the key highlights of the mechanical age and the early free enterprise would help talk about them in connection to present-day times and qualities. The venture objective is to examine the particular qualities of the picked timespan and the ascent of entrepreneur soul and contrast them with the contemporary society to find how they affected the last mentioned.

Literature Review

There has been some examination in this specific territory, in any case, with little correlation with present-day times. Charles More (2014), for instance, dives into the investigation of the Industrial age in Britain in the entirety of its multifaceted nature and large number. He watches the industrialization procedure in the circles of farming, fabricating, society, government, banking, and numerous different everyday issues. This extensive investigation is a magnificent reason for the ebb and flow inquire about because of an assortment of valuable information that portrays the life of individuals from various sides. It permits getting a handle on the principal esteems that commanded the modern age society. It additionally reveals some insight into the introduction of industrialist relations in the depicted period. The restriction of this investigation identifying with the ebb and flow venture may be that the creators’ examination is for the most part focused on Britain.

The Industrial Revolution by Wolfe (2015), in turn, presents comprehensive information on the most characteristic features of the Industrial Age in numerous world countries. The author begins by describing society before the Revolution to emphasize the effects it would bring to various economic and social spheres, as well as to individuals and their lifestyles. According to the book, it is possible to identify when and how a phenomenon of private enterprise appeared in Britain and what events contributed to its emergence. Besides, the book shows how the Industrial Revolution and the premise of private enterprise were developing to help readers better understand their nature against the background of the previous and current state of affairs. Thus, Wolfe’s The Industrial Revolution can be an excellent introductory source to get insight into the correlation between social and economic development and the form of property.

Another helpful expansion to the premise of the present examination is a book by Lloyd-Jones and Lewis (2014) called British Industrial Capitalism since the Industrial Revolution. It manages hypothetical, authentic, and monetary parts of the modern age free enterprise after the 1820s. The creators offer a point-by-point audit of the causes, outcomes, and significance of the progressions that mechanical age added to the advancement of free enterprise. This source will extraordinarily profit the momentum research and help construct the segment about entrepreneur relations in the mechanical age. The constraint, in any case, is that it audits the period after the modern insurgency absents much spotlight on the earlier years.

Mokyr (2018) in his book The British Industrial Revolution: An Economic Perspective argues that the Industrial Revolution caused numerous changes of different economic indicators, including labor mobility, technology, and capital accumulation. The author highlights the importance of this era as it resulted in the transformation of the whole economy and the social system as well. Another crucial concept mentioned in this book relates to the technological shift in the manufacturing process that was described by many contemporaries of that time. It also provides evidence of significant changes in a variety of social spheres. According to the research, “The role of the family and the household, the nature of work, the status of women and children, the social role of the church, the ways in which people chose their rulers and supported their poor, what people wanted to know and what they knew about the world-all these were altered more radically and faster than ever before.” (Mokyr, 2018, p. 6).

On the contrary, according to Nielsen (2016), the idea of a radical change brought about by the Industrial Revolution itself is nothing more than a fantasy. Using an empirical approach and basing on the relevant data, the author tries to prove that the escape from the Malthusian trap and the stagnation, associated with it, was imaginary and had no reasonable underpinning. The research demonstrates the results of the investigation of the growth of population and economic growth trajectory which, according to the author, did not show any movements, connected with the Industrial Revolution. Such an opinion is rather contradictive, yet, needs to be taken into consideration and thought over.

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While the previous study focuses solely on the fact that the Industrial Revolution did not cause quantitative economic alterations, the survey by Erik Buyst (2018) provides proof of qualitative shifts in the economy of Belgium. This research reveals the increased gap between rich and poor regions of the country which was a result of the Industrial Revolution. The author argues that such an effect is due to the archaic nature of the economic geography of Belgium which was founded during ancient times. However, this work is consistent with the newfound idea of the continuity between the period of the Industrial Revolution and the eighteen century as a whole.

As can be seen, the topic itself is widely represented in the academic research of the last decade, which proves its relevance and demonstrates the value of its examination. Even though it is rather widespread, the opinions on this subject are contradictive and should be revisited in order to provide a strong and reliable underpinning to a concluding point of view.

Methodology

The essential technique for gathering information about the early private enterprise and modern age will be writing an investigation. The selection of works will be founded on the nearness of data about the above-expressed points and information on the general public’s way of life and dispositions towards business and cash. The target here is to take shape the key ideas that commanded the psyche of individuals in that age. To investigate the effect the referenced ideas have on contemporary society a study might be led. It can assemble suppositions about the impact the found mechanical age and free enterprise esteems have on the member’s life.

The most important tool for a proper examination of the impact of the Industrial Era is, probably, searching for the interconnection between the economic growth (both in quantitative and qualitative terms) in this period and an individual, its role and behavior, the way he or she makes decisions on different matters. From this point of view, the approaches of sociological and economic analysis might be used.

The information above means that qualitative research methods should be used to cope with this course project. A systematic review should be performed to analyze relevant literature and identify the most suitable sources of information among many variants. It denotes that specific attention should be paid to the quality of the information found, rather than to its quantity. That is why the literature review section contains reliable and up-to-date sources on the topic under consideration. In addition to that, the presence of such substantial works creates saturation – it is a situation, in which the collected information is enough, and no additional sources are required (Saunders et al., 2018). Credible sources of information, however, do not guarantee successful results of the course project. Thus, one should also devote attention to the ways how the identified data is analyzed. The fact is that qualitative research methods should introduce a thorough work on information and its analysis to arrive at reliable results.

Work Plan

The undertaking is arranged in three phases: information gathering from writing sources on mechanical age and early free enterprise, conduction of overviews with present-day individuals because of modern age and industrialist esteems, and examination of the gathered information.

Each of the steps above can create particular issues that should be overcome appropriately. Information gathering, for instance, has already been finished, yet, some unpredictable problems may arise during the analysis process. If one of the sources, described in the Literature Review, contradicts the other, some additional surveys to prove a specific point of view might be required. What is more, even if all the possible challenges concerning information gathering had been already discussed and solved, the other two phases deserve specific attention. On the one hand, overviews with present-day individuals should be conducted correctly. It is not a complicated task because all the necessary sources of information have already been identified. The only possible issue can refer to the fact that it can be difficult to analyze the topic adequately in the retrospect of time. However, a more detailed analysis can help cope with the problem. On the other hand, it is necessary to assess the gathered information as to credibility and completeness. In this case, the main challenge is to understand that obtaining conclusions is not the last phase of the course project; it is also necessary to check these conclusions.

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Results and Implications

The ideal outcomes will incorporate a response to the subject of whether and how the mechanical age private enterprise impacts current individuals’ impression of cash and business. The course project will present a comprehensive insight into background, development, and outcomes of the Industrial Revolution for society and its separate members. This task could help better comprehend the importance of the referenced qualities and the degree of their effect on present day individuals’ lives. Maybe, it would provide knowledge into the guidance of the advancement of present-day society. Thus, there will be a few ways of how the findings will demonstrate their usefulness.

The academic literature reviewed in some cases indicates the opposite views on the topic, that is why the results may not be predictable. However, the outcome can also vary on the way the survey is conducted and on the method used. Besides, the contradictions may arise during the qualitative and quantitative analysis because one does not always become a strong proof for the other. In this case, the author may rely on a common logic and any wide-known facts applicable.

Speaking of the result itself, it is assumed that the most essential outcome will be related to the impact of technological change on the economy, which in turn provides a basis for a transformation of social, political, ideological, and other spheres. Yet, this conclusion may be altered during the research process due to plenty of factors, including new data revelation and the discovery of more relevant or up-to-date sources.

As has been stated, particular attention should be paid to the results of the course project. According to Belcher, Rasmussen, Kemshaw, and Zornes (2015), this course venture is an example of an interdisciplinary study, so it requires an application of various analysis tools. Since it covers both economic and historical topics, the findings will reflect this state of affairs. To conclude, the results should demonstrate how the economic issue of private enterprise appeared and developed against the background of historical and social changes caused by the Industrial Revolution.

References

Belcher, B. M., Rasmussen, K. E., Kemshaw, M. R., & Zornes, D. A. (2015). Defining and assessing research quality in a transdisciplinary context. Research Evaluation, 25(1), 1-17.

Buyst, E. (2018). The Causes of Growth during Belgium’s Industrial Revolution. Journal of Interdisciplinary History, 49(1), 71-92.

Lloyd-Jones, R., & Lewis, M. (2014). British industrial capitalism since the industrial revolution. London, UK: Routledge.

Mokyr, J. (2018). The British industrial revolution: An economic perspective. New York, US: Routledge.

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More, C. (2014). The industrial age: Economy and society in Britain since 1750. London, UK: Routledge.

Nielsen, R W. (2016). Industrial Revolution did not boost economic growth and the growth of population even in the United Kingdom. Journal of Economics Bibliography, 3(4), 577-589.

Saunders, B., Sim, J., Kingstone, T., Baker, S., Waterfield, J. Bartlam, B., … Jinks, C. (2018). Saturation in qualitative research: exploring its conceptualization and operationalization. Quality & Quantity, 52(4), 1893-1907.

Wolfe, J. (2015). The industrial revolution. Chicago, IL: Encyclopaedia Britannica.

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StudyCorgi. (2021, June 5). Industrial Age and Ascent of Private Enterprise. Retrieved from https://studycorgi.com/industrial-age-and-ascent-of-private-enterprise/

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1. StudyCorgi. "Industrial Age and Ascent of Private Enterprise." June 5, 2021. https://studycorgi.com/industrial-age-and-ascent-of-private-enterprise/.


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StudyCorgi. 2021. "Industrial Age and Ascent of Private Enterprise." June 5, 2021. https://studycorgi.com/industrial-age-and-ascent-of-private-enterprise/.

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StudyCorgi. (2021) 'Industrial Age and Ascent of Private Enterprise'. 5 June.

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