Keppel Ltd. 1Q 2024 Business Update Presentation Slides
Industrial Revolution
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2. Coalbrookdale at Night , Philip James de Loutherberg Pretend you are a person in this scene. What is your life like? Where do you work? What can you see, smell, feel, and hear from where you are? What year is it? Industrial Revolution
9. I. Cottage Industry and Early Capitalism Merchant’s Role in Cottage Industry -Supplied materials – wool and cotton – to cottages to be spun into yarn -Merchants sell product for more than material and labor costs = profit + larger investment = higher profit Capitalism -An economic system based on private ownership, free competition, profit -Cottage industry = capitalism Effects of the Cottage Industry -Big profits for merchants, additional income for peasants
11. II. Textile Industry and Factory System Textile Industry Invented -Cottage industry couldn’t keep up with demand for textiles -Inventions improved production (spinning jenny, water frame, power loom, spinning mule, cotton gin) Rise of the Factory -New machines, too big for homes, were put in factories -Factories were located near power sources: coal, water Effects of Textile Factories in Britain -Inexpensive textiles -Cities with factories grow -Villagers move to cities
13. III. Steam Engine The Need for Energy -Early factories relied on horses, oxen, and water mills -Steam engine evolved in response to the increasing for power How the Steam Engine Works -Steam forced from high to low pressure produces power Effect of the Steam Engine -Steam power increased production
15. IV. Iron and Coal The Need for Iron -Farming tools, new factory machinery, railroads -Iron necessary for making steel The Need for Coal -Coal necessary for making steel -Steam engines powered by coal Effect of Iron and Coal -Britain produced more coal than all other countries of the world combined -Coal powered Britain’s enormous navy
17. V. Transportation The Need for Better Transportation -To transport goods quickly and cheaply -Pre-Industrial society used horses, mules, and dirt roads = slow Inventions -Roads, canals, railways -Railroad era began with the Rocket in 1829 Effects of Railroads -Expanded rapidly throughout Britain -Increased production and profits
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19. VIII. Why Britain led the Industrial Revolution Geography -Climate good for textile production -Separation from European continent keep them out of wars -Plenty of natural resources such as iron and coal Social Factors -British society less rigid than other European countries Colonies -Supplied raw and manufactured goods -Provided markets for new goods Advantages of Industrializing First - No other countries competing for manufactured goods -Monopoly (the only ones) of technology