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Whose economic power increased due to industrialization?

Answer and explanation

Correct answer: Factory owners and industrialists

With industrialization, investment in factories, machines and large-scale production became important. Factory owners and industrialists gained economic power because they controlled capital, means of production and employment. Landless peasants mainly depended on wages and were not the chief beneficiaries of this change. Exam tip: Link industrialization with the rise of the capitalist class and the factory system.

Related tags

IndustrializationCapitalist ClassFactory SystemIndustrialistsRussian RevolutionSocial ChangeThe Age Of Social ChangeSocialism In Europe And The Russian Revolution

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