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The industrial revolution had both negative and positive consequences for American and British soceity.
The mechanization of production allowed consumer goods to be more easily produced. Items like guns, furniture, clothing, and like items requried huge investments in both time and labor. But after machines began producing the components or in some cases the finished products themselves, the price fell and availability of these items grew.
Industrialization also had a positive impact on agrculture. Mechanization of farm labor helped farms become more productive and increase the food supply.
It also created new opportunities for trade and export with other countries. As America and Britain increased their industrial output, they also were able to expand their economy through trade with other nations. In the colonial period, the colonies supplied raw materials such as cotton to the British who milled it into cloth.
This relation stayed pretty much intact until the revolution because America didn't have the industrial capacity to compete with it's Atlantic neighbor.
Inustrialization also had negative consequences. The burning of coal for power led to increased pollution and health issues in cities. It also led to the a decrease in working conditions as artisans lost out to factories as the main providers of goods.
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