Impact Of Entrepreneurs On The Industrial Revolution

The entrepreneurs had a great effect on the Industrial Revolution because they were working with inventors who had ideas to make things better and work more efficiently. They would pay inventors to keep working on ideas and that would therefore make them more money Entrepreneurs were contributing ideas to the industrialization in the areas of transportation, agriculture, and the population increase demands. Enclosures were made to increase crops. Farmers and landowners were able to try new agricultural methods. The seed drill was developed by Jethro Tull which led to better crop yields from betters planting methods. Crop rotation was developed by scientific farmers so farmers switched what they planted each year so they then had†¦show more content†¦I agree with this statement because the steam engine was an essential machine they needed at the time. The steam engine was the first development. They were needing a convenient source of cheap power. In 705, coal miner had actually used steam powered pumps to remove water from deep mine shafts. When the first steam engine was invented it was very expensive because of all the fuel it had to burn. But, a man named James Walt figured out a way to solve those problems. He was able to make the steam engine work faster and more efficiently along with burning less fuel. Watt was a mathematical instrument maker at the University of Glasgow in Scotland. Watt later worked for Matthew Boulton who was an entrepreneur. An entrepreneur is someone who financially backs a product and works to manage and make it better. Boulton paid Watt to try to build engines even better and make more efficient. Agriculture, transportation, increased population, and entrepreneurs all contributed to the Industrial Revolution. The invention of the steam impacted all of these areas. Steam could move boats. Robert Fulton, an American inventor, made the Clermont, a steamboat that carried people along the Hudson River in New York. Canals and waterways in England were created which improved water transportation. Within 150 years, 4,250 miles of channels cut the cost of moving materials and goods greatly. Both road and water transportationShow MoreRelatedIndustrial Revolution1160 Words   |  5 Pagesfundamental structure of the economy. That change was industrialization. During this time period, the United States of America changed from a large, agricultural country, to an urban industrial society. The process of industrialization began to take place in America, and eventually took over the economy during this period. Entrepreneurs and inventors put together various machines and businesses to help better the country function on a day-to-day basis. The advantages that industrialization did for America speakRead MoreIndustrial Revolution : Impact On Society1092 Words   |  5 PagesIndustrial Revolution: Impact on Society Chernyka Love HIST112 Professor Adam Howard American Military University 15 March 2015 The Industrial Revolution is a term used to describe a period characterized by a transition from old to new processes of manufacturing. This period occurred during the 18th and 19th century. The transition was seen to include movement from primitive hand production to the same type of production using faster more efficient means by use of machines. The era also featuredRead MoreThe Impact of The British Revolution on Society Essay example546 Words   |  3 PagesThe British revolution had a great impact on the society. Various complicated machines tools were used in the production and rural-agricultural and commercial society to a progressive rural- industrial society, this period of time old ideas mere modified, not swept away and gradually new ideas took place. This thing helped Britain changing their city life, social class structure, the power of the British nation amongst rest of the world, the production of machinery, and the strength of the economyRead MoreEssay about The Industrial Revolution in America1118 Words   |  5 Pagesgrowing since its birth out of Great Britain. The Industrial Revolution has been an influence in the American life since it first began in the 1700s. Many of the effects resulting from the revolution still affect America to this day. The entrepreneurs of this time and their industry still are around, although they have molded and shaped themselves into better products their still known from the originality of it all. Although the Industrial Revolution began hundreds of years ago it has affected everythingRead MoreThe Industrial Revolution During The 20th Century1106 Words   |  5 PagesThe industrial revolution was one of the biggest innovations from the 18th to 19th centuries. The Industrial Revolution changed the way the world was looking at altogether; new things were possible, things that no one ever could’ve dreamed of. In addition, creating new methods of producti on, manufacturing times were greatly lowered, meaning the product could be given to the public faster and in larger quantities. The Industrial Revolution was when the world finally began to move into the futureRead MoreIndustrial Revolution Essay1643 Words   |  7 Pagesthat some social changes that were felt during this period of time included changes to class structure, the working class, family dynamics, women’s role, and even the lower to middle class. On the topic of social changes, he says that, â€Å"the industrial revolution had far reaching social consequences, which varied across class and regions. Between the late 18th and early 20th centuries, new family and class structures emerged to adjust to the new wage economy and production shifted out of the house toRead MoreThe Far-Reaching Effects of The Industrial Revolution Essay1118 Words   |  5 PagesDuring the period from the early 18th century to the mid 19th century people experienced many changes that had an impact on their lives such as technical advance, development of transport, trade, better organization of output or new financia l structures. All these achievements happened spontaneously and were not planned. Economy was in process of rapid change and it gave many opportunities for people to gain wealth as well as social advancement. Almost every aspect of people’s lives was influencedRead MoreIndustrial Revolution Essay1051 Words   |  5 PagesAs the Industrial Revolution took place, many drastic changes†¦ technological, social, economic, and cultural also occurred. The Industrial Age brought about a new order that gave rise to the world of skyscrapers, factories of mass-production, and electronic devices that we are accustomed to today. The everyday lives of ordinary people underwent a dramatic change for the better. Before the Industrial Age, people lived very simple and hardworking lives. Any food or clothing they had was produced byRead MoreUrbanization, Industrialization, Popullation1376 Words   |  6 Pageswitnessing their pros and cons in spectacular aspects. First of all, industrialization is the transformation from an agricultural an industrial society, in which the new technology as well as mechanization of industry is dominant. It first took place in Britain from the middle of the 18th to the early 19th century and presented a prototype for industrial revolution spreading throughout Western Europe and North America afterwards. The greatest significance of this process is that it replaced manualRead MoreThe Function Of Entrepreneurs By Joseph Schumpeter1299 Words   |  6 PagesIntroduction . . . the function of entrepreneurs is to reform or revolutionize the pattern of production by exploiting an invention or, more generally, an untried technological possibility for producing a new commodity or producing an old one in a new way, by opening up a new source of supply of materials or a new outlet for products, by reorganizing an industry and so on.† (Schumpeter ([1], p. 132). Joseph Schumpeter has highlighted the capacity of entrepreneurs to change the dynamics of business