Industrial Revolution

AAA

DEFINITION of 'Industrial Revolution'

A period of major industrialization that took place during the late 1700s and early 1800s. The Industrial Revolution, beginning in Great Britain, quickly spread throughout the world. This time period saw the mechanization of agriculture and textile manufacturing and a revolution in power (i.e., steam ships and railroads) and had a massive effect on social, cultural and economic conditions.

INVESTOPEDIA EXPLAINS 'Industrial Revolution'

It has been argued that the factory systems developed during the Industrial Revolution are responsible for the modern cities we know today. During the Industrial Revolution, workers came to cities in droves to look for employment in the new factories. Because the industrial system was new, there were no experienced workers, and thus everyone had an opportunity to find employment. Technological advancement followed, which increased overall production.

RELATED TERMS
  1. Capitalism

    A system of economics based on the private ownership of capital ...
  2. Industrialization

    The process in which a society or country (or world) transforms ...
  3. Economy

    The large set of inter-related economic production and consumption ...
  4. Laissez Faire

    An economic theory from the 18th century that is strongly opposed ...
  5. Old Economy

    A term for the old blue chip industries that enjoyed fabulous ...
  6. Deregulation

    The reduction or elimination of government power in a particular ...
Related Articles
  1. Economics Basics
    Economics

    Economics Basics

  2. Save The Earth: Become A Capitalist
    Economics

    Save The Earth: Become A Capitalist

  3. Globalization: Progress Or Profiteering?
    Economics

    Globalization: Progress Or Profiteering?

  4. An Exploration Of The Development Of ...
    Economics

    An Exploration Of The Development Of ...

comments powered by Disqus
Hot Definitions
  1. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  2. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  3. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  4. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  5. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
  6. Limit-On-Open Order - LOO

    A type of limit order to buy or sell shares at the market open if the market price meets the limit condition. This type of ...
Trading Center