CADS 2000 Lecture Notes - Lecture 3: Samuel Slater, Putting-Out System, Working Animal
2 Nov 2016
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What is a consumer: a person who purchases goods and services for personal use consumer demand . It was not economically helpful to study consumers (particularly large groups of consumers) until the industrial revolution. Revolution: up until the industrial revolution, the world essentially had an agrarian society, usually well over 90% of people in the world were involved in agriculture. It took a lot of peasants and serfs to support the nobility and aristocracy. Serfs are peasants who were bound to the land, peasants were poor farmers. Serfs did not own land, some peasants owned land. Serfs were bound to the land and could not leave, peasants could leave: king lords vassals knights peasants and townspeople, the industrial revolution began in great britain and continued across the. Atlantic in the us: prior to the industrial revolution, manufacturing was done using hand tools or rudimentary machinery, the ir was the shift from humans with handmade tools to other sources of energy.
