What were three positive and negative effects of the Industrial Revolution?

The Industrial Revolution had both positive and negative consequences, many of which represent two sides of the same dramatic shift in lifestyles. 

First, let's address some of the negative consequences of the Industrial Revolution. As the means of production were shifting from a household or estate basis to a factory setting, many people flocked to the cities in search of work. Unfortunately, housing and infrastructure could not really keep  up with such drastic population growth. Much of the new working class lived in cramped and unsanitary homes, rife with disease. The conditions in their places of work-- factories or mines-- were not much better! Many forms of work were dirty and hazardous to health. Some were at greater risk in the work place than others; children were often injured when climbing into machinery to perform repairs. Altogether, the living and working conditions of the working class were very poor, and you could almost be certain that if someone did not die of illness or injury in the work place, they would die of illness spread at home.

Until the establishment of labor unions, many people in the working class received terribly low wages. While a low wage was still something, and more than they might have earned if they had stayed in the country, it was not enough. Those who were ill could not afford medical treatment, and many people worked to manufacture goods they would never be able to purchase. Many suffered malnutrition as a result of not being able to afford enough nutritious food, which had to be transported from the countryside. Poor-houses (also called workhouses) became a staple in Industrial Revolution era Britain, where impoverished people would labor in exchange for a place to sleep and food. Despite sounding like a safe haven, the poor-houses were some of the most unsanitary and dehumanizing institutions to develop.

So, what positive effects represent the other side of the Industrial Revolution? For those able to afford it, the Revolution made available a greater diversity of products. Additionally, there was a greater degree of standardization, so that one might be assured of the same quality in different places or at different times. The Industrial Revolution also had the effect of improving overall quality of life. Though many lived in dirty, cramped homes, cities began making changes to provide clean water, gas, and electricity to all citizens. 

Though employment conditions really suffered in the beginning, one of the long-term effects of the Revolution was an improvement in both employment rates and ethics. The dissatisfaction of factory laborers lead to the establishment of unions who fought for better wages, safer working conditions, and the banning of child labor. It depends on how long after the start of the Revolution you are willing to consider, but improvement in working conditions is certainly one of the positive developments.