Industrialization and the World Economy

Only available on StudyMode
  • Download(s) : 146
  • Published : May 10, 2012
Open Document
Text Preview
Industrial Impact
In today's age, everything seems to flow smoothly. Technology changes almost every day, and we are increasingly becoming more efficient in our products. The efficiency has emerged from industrialization throughout its growth since the first Industrial Revolution starting in Europe in the 18th century. Industrialization helped pave the way towards stronger nations, improved economies, advances in technology, improvements for the middle and lower classes, and the expansion of imperialism and the world powers of today. Industrialization has had a colossal impact on the world economy since the theory was first put into action. In terms of history, industrialization has proven to be the most successful economic method and most vital movement to help shape the modern world. The reason we have the modern world and all its glory is that between the years 1750 and 1914, a great change in the world's history was made as the industrial revolution began. People started to discover faster methods of producing goods, which increased their economy. These discoveries came out of the basic ideas of capitalism because it fostered to individuals who were willing to take high risks in hopes of high returns on their investments. These investments included factories and machines that would be put to use by people to better their standard of living. These entrepreneurs would return their profits back into the expansion and improvement of their factories and machines. At first, these people were mainly British and French, but after a few years the French were distracted by their revolution, and the British continued to industrialize. The trend caught on and quickly spread. Manufacturing and transportation technology grew rapidly while invention after invention continued to improve the industrial system. For example, railroads were one of the most important advances of the 1800's and increased the growth and size of manufacturing and industrialization. This expansion...
tracking img