Reformation
(1517)
After the fall of the Roman empire, there was widespread chaos. The void of the central monarch was fulfilled by the power of the Roman Catholic Church. The Church rose to power in the economic, social, cultural facets of the society through its doctrines of “divine rule”, selling indulgences etc. It’s teachings in not only religion but politics and even science were unchallenged.
​
​
In 1517, this power of the Church was shaken by a German priest named Martin Luther- who demanded accountability from the Church. His thoughts and challenges were accessible to people all over England because of the printing press where people could read the Bible themselves and see how exploitative the institution of the Church has been.
Widespread agitation rose in Europe and this led to the birth of Protestantism, which rejected the supremacy of the Pope and believed in going back to the Bible directly for questions of life.
Martin Luther
Witch Hunts
Nonetheless, these events would have a lasting impact on the industrial revolution in multiple ways:
-
Firstly, it challenged the Church’s authority in Science, which would prove absolutely necessary in the ever-continuous innovations in machinery and scientific thought imperative to the industrial revolution.
-
Secondly, the new Protestant sects allowed followers to charge interest on loaned money. This became an anchor for the radical changes that financial institutions would undergo as they lent money to the merchant and industrialist class for travel and exploration and expensive machinery setups in the industrial revolution.
-
Thirdly, the challenge to the Church's authority in religion eventually led to challenging political authority. After decades, people thought that the power of the political entities does not come from God (Divine Rule), but from below- the people who legitimize and agree to being ruled by the entity. This idea suited industrialists to gain significant political as well as economic power. Thus, in the new industrial world power was found in wealth. It is also from the Reformation that emerged ideas of human rights- certain unalienable rights that no political entity could usurp. The right to own property was one of them. This right became significant in both the agricultural and industrial revolution.
Selling Indulgences
With the internal threat of Protestantism and the external threat of crusades, military battles broke out all over Europe. This was also when witch-hunts started gaining ground.
Massacre of Saint The Massacre of Saint Bartholomew’s Day (1572)
Usury becomes respectable finance
References
​
​"Origins of the Industrial Revolution ." Industrial Revolution Reference Library. . Retrieved October 16, 2020 from Encyclopedia.com: https://www.encyclopedia.com/history/encyclopedias-almanacs-transcripts-and-maps/origins-industrial-revolution
​Saikia, S. (2020). Discovery of the "New World". Lecture.
​
The Reformation. (2009, December 02). Retrieved October, from https://www.history.com/topics/reformation/reformation
​​
​
Sources for pictures
​
https://simple.wikipedia.org/wiki/Martin_Luther
​
https://www.oregonlive.com/religion/2011/08/worthless_indulgences.html
​
​
https://en.wikipedia.org/wiki/St._Bartholomew%27s_Day_massacre ​
​
https://aeon.co/essays/how-did-usury-stop-being-a-sin-and-become-respectable-finance