While the Industrial Revolution had both positive and negative effects on society and the economy, the positive effects outweighed the negative. Industrialization resulted in an increase in population, people moved in urban areas in search of jobs and work. This also increased the economy significantly.
People got longer working hours, including an increase in earnings, and due to more poeple moving into these urban areas, companies made more money. Cities grew rapidly and industrys and steam power rapidly strengthened.
In Manchester, the population in 1717 was 100,00, but by 1922, the population grew to over 2,300,00 people. This significantly helped the economy financially, because more people means more spending money.
