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. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  2. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  3. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  4. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  5. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  6. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
Trading Center