Question
How did Industrial Revolution give rise to capitalism? Explain.

Answer

  1. Imperialism was the ill-begotten child of industrialisation.
  2. Industrialisation chiefly needed two things. One of them being the constant supply of raw-materials and the other is that the finished goods be sold at the same speed.
  3. The industrialised countries had introduced heavy import duties as protective tariffs to check the import from other countries.
  4. Faced with the problem of finding new markets for their products, the produce nations chose such countries where industrialisation had not yet reached.
  5. Hence a race for bringing those areas under their effective occupation or effective influence started among the various industrialised nation.
  6. As a consequence, Britain, France, Germany and Japan, etc., set up their colonies in Asia, Africa and South America, etc.

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