In the excerpt from a historical account, the author examines the impacts of the Industrial Revolution on societal structures. The passage states: 'The transformative effects of industrialization birthed not only new technologies but also fundamentally altered social dynamics, wherein the age-old divisions between classes began to blur, creating a new socio-economic fabric that paved the way for modern capitalism.'
Based on this statement, what can be inferred about the author's perspective on the Industrial Revolution?