Tag Archives: industrialization

Family Economy

During the post industrial stage the family as an economic unit changed.The family transformed from being a unit of production to being a unit of consumption. This new era of industrialization brought changes where farming can be done with less persons, therefore children were no longer to be viewed as economic assets but rather as liabilities. Industrialization further contributed to the demise of the family economy where the capitalist market encouraged production in large scale factories, farms and mines. Wage labor became common and family members no longer worked together but rather used the wages they had earned to buy goods which they consumed as a family unit.

Source: https://en.wikipedia.org/wiki/Family_economy