That's very much not what happened in the Industrial Revolution. Hand weavers were relatively well-paid, and the new factories were more likely to employ the urban poor - including kids - than to give jobs to people who used to be hand weavers.

It took maybe a century and a half for the modern consumer economy to appear. And it didn't happen until money started being shared into the wider economy for political reasons, not technological ones.

Meanwhile the enclosure of common land was catastrophic for rural populations. Sources of food and pasture disappeared as the Big Houses took them over and turned them into huge single family estates.