Communist Manifesto and Industrial Revolution

The dominant form of economics in the Middle Ages and Renaissance was feudalism; a patron system in which land was owned by royalty or the Church and leased to workers who, in turn paid rent via the products they grew or produced. However, with increased urbanization and tradecraft, ties to a feudal lord or castle were becoming rarer, thus necessitating a different form of monetary exchange. With the advent of steam power and machinery, especially in the 18th and 19th century, major changes in agriculture, mining, manufacturing and transportation literally revolutionized Europe and changed the socioeconomic and cultural conditions within almost every European country. Indeed, the onset of the Industrial Revolution impacted daily life for almost every individual, and changed the course of history, too (More, 2000). Geographically, the Industrial Revolution arose out of England and utilized the vast amounts of natural resources to allow...
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