By abolishing feudalism, the Hungarian Revolution of 1848 helped to create the economic preconditions and the legal-political framework necessary for capitalistic development. This made it possible for Hungary to adapt her economy to the market possibilities offered by the Industrial Revolution in western and central Europe and to share in the agrarian boom of the period between 1850 and 1873. The previously existing division of labor between western and eastern Europe and between the western and eastern parts of the Habsburg monarchy continued on a scale larger than before, with the significant difference, however, that this practice now speeded up rather than retarded the development of preconditions for capitalism. During the first half of the nineteenth century the preconditions for capitalism had come into existence in the Cisleithanian provinces at considerable expense to the Hungarian economy.
