Consequence is like what we had learned in elementary school which was taught as Cause and Effect. The Cause is what happens the Effect is what happens because of was done before, this links to consequence because consequence is when your actions or maybe someone else's actions Effect what happens to you being the consequence.
The way all that mumbo jumbo links to the picture is because industrialization is a thing of many decisions and with decisions come with consequences. The consequences being should I ruin the environment and polute the air and get money to support my family or should I leave the environment alone and starve and live in a shabby house. There's more consequences then just that there is also the consequence that if they'd expand their business options would expand and they would get more customers, but the consequence of that would be more pollution and more slavery. Having a business brings many more consequences than this. The industrial revolution caused lots of more slaves and pollution so becoming a industrial revolutionist has its consequences of slavery and helping wreck the earth.