The Industrial Age Impact and the Rise of Capitalism


  • People who do not know their past cannot fully understand the main principles of society
  • Every period in history has a certain impact on people’s thoughts
  • Industrial Age still has a great influence on modern people
  • The perception of wealth significantly changed during the Industrial Age
  • The emergence of Capitalism along with the Industrial Revolution
  • The perception of wealth and business has changed since the times of the Industrial Age

The Industrial Age

General Information

  • The Industrial Age started in Great Britain in the 18th century
  • The number of factories and plants was rapidly growing
  • In production, the main focus was on the separation of standardization and labor
  • The optimization of production and maximization of profits for businesspeople
  • Many companies appeared during the Industrial Revolution
  • The Industrial Age quickly spread to the whole of Europe (Hartwell, 2017)

Main Features

  • The transition from manual production to mechanization
  • The focus on active consumption and mass production
  • The rapid development of technology
  • A considerable economic growth
  • The improvement of the overall quality of people’s lives
  • The development of Capitalism


  • The limited access of the working class to the goods they were producing
  • The growing power of wealthy people in the sphere of economy
  • The increasing social stratification
  • It was very difficult for poor people to start their own business
  • Task separation
  • The decreasing control over the competition
  • It was almost impossible for low-income people to improve their financial situation (Mantoux, 2013)


Main Peculiarities

  • Capitalist society appeared in the 18th century
  • The first reason for the occurrence of Capitalism is the rapid development of technologies
  • The second reason is the increasingly growing population
  • Positive changes in the agricultural sector
  • The increase in the economic growth
  • Capitalism and Socialism are incompatible due to major differences between them (Hudson, 2014)

Disadvantages of Capitalist Society

  • The increasing control over resources by wealthy people
  • The growing chasm between the working class and the upper class
  • The introduction of certain rules and restrictions on factories and plants
  • The reduction of the government control overproduction
  • Fewer opportunities for poor people to become successful
  • The growing indignation of the working class
  • The increasing environmental pollution (Mantoux, 2013)

Contemporary Society

Capitalism Today

  • The main principles of Capitalism have not changed since its occurrence
  • The focus on consumption and mass production has become even stronger
  • Environmental pollution has become a major problem
  • The negligence towards safety restrictions
  • The suppression of democracy
  • The increasing propaganda
  • The problem of social inequality remains (Amin, 2014)

The Perception of Wealth

  • A survey regarding the business people’s perception of money, wealth, and the process of production was conducted
  • The age of participants was from 27 to 38 years
  • 90% of respondents agreed that the increased consumption is one of the main features of progress
  • 60% of respondents believed that it was more efficient to focus on the quantity of production rather than on quality
  • 80% of respondents admitted that it was very difficult for people from the low and middle classes to become successful
  • 60% of respondents agreed that in modern business, people are not regarded as resources
  • Almost all the respondents admitted that maintaining a competitive advantage is crucial in modern business (Amin, 2014)


  • Industrial Revolution caused many changes in the sphere of business.
  • Capitalism changed people’s perception of business, wealth, and production.
  • The key features of capitalism are profitability, social stratification, task separation, and the decrease in the government control.
  • Employee effectiveness fully depends on employee happiness.
  • The increasing number of employers focus on creating a positive work environment.
  • Still, many employers regard their subordinates as resources.


Amin, S. (2014). Capitalism in the age of globalization: The management of contemporary society (2nd ed.). London, UK: Zed Books Ltd.

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Hartwell, R. M. (2017). The industrial revolution and economic growth (Vol. 4). Abingdon, UK: Taylor & Francis.

Hudson, P. (2014). The industrial revolution. London, UK: Bloomsbury Publishing.

Mantoux, P. (2013). The industrial revolution in the eighteenth century: An outline of the beginnings of the modern factory system in England. London, UK: Routledge.

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