Revolution is a rapid push for change within government, culture, and society. In this case the industrial revolution was a change in which materials were created obtained. The industrial revolution didn’t just add changes to the British economy, but it most noticeably changed the infrastructure of the country. Thousands of factories and railroads popped up all over the nation, such rapid growth pushed for a bigger demand for resources to maintain the factories, so a movement was created. A movement within a nation is a push for change based on the current necessities in a society.
The industrial revolution was a major catalyst for social change. This revolution accelerated the growth of the urban population at an alarming rate. During this time material wealth increased tremendously, life was extended. Society was restructured in many ways. For the first time since the Neolithic Revolution, people were going outside of their homes to their workplaces.
The Industrial Revolution started in the 18th century and has severely influenced the way humans interact with each other and their environment. It started in Britain in the mid 1700’s, replacing manual labor with machines, and fossil fuels replaced water, wind, and wood’s jobs. The industry that saw the first benefits of this revolution was the textile industry. This revolution spread all over Europe and to America within the time period of one hundred years and not only allowed production quantity to increase, but also elevated the quality of the products and has changed the world we live in (Stearns,7). Urbanization is one of the most lasting features caused by the revolution, and its effects can still be seen these days.
The Industrial Revolution occurred in the 19th century, originating in Europe. It is characterized by rapid improvements and developments in spheres of transportation, construction, communication, technology, cultivation, and textile manufacturing1. This innovative period propelled people from a primarily rustic and agricultural existence, into a more modernized lifestyle. Furthermore, it had a far-reaching effect on many countries’ socioeconomic and cultural conditions, mostly England.2 What England had which made the revolution possible was wealthy capitalists who were willing to invest in large quantities expensive machinery and factories, a large market for manufactured products, the copious resources such as coal, for steam engines, and iron ore, for making machines, and great geographically located harbors, for trade. The machineries created during this gradual revolution made it economically viable for an increase in world population, growth of cities, the development of new recreational facilities and the increase in volume and variety of merchandises.
Hartwell suggested the reasons for the expansion of trading as a result of industrial revolution as the increase of domestic demands caused effective foreign transports (168). Robert Wilde, European Historian also agrees that the “colonial trade” increased the foreign trade policy and relation caused for the revolution (Causes and Preconditions for the Industrial Revolution). Also modern technologies that helped for building up
The advent of the Industrial Revolution in Europe spurred a positive change in the economy and society of every country that was fortunate enough to reap the benefits of mass production powered by factory equipment, though the effects of this widespread shift touched not only Europe, but other countries and colonies around the world as well. Obtaining land outside of Europe became a central focus for European countries, and the physical barriers that had previously inhibited the expansion of a country’s territories were broken by technologies such as the steam engine, which enabled powerful long-distance travel. European countries availed themselves of this opportunity to broaden their horizons and acquire more land, which they carried out prominently in Africa.
Within my essay, I propose to discuss the factors that lead to the advancement of industrialisation in Europe. I would like to analyse the various contributing factors to determine if one dominating factor had set industrialisation in motion or if a culmination of conditions allowed development in the manufacturing and trade in Europe. The factors which I plan to discuss include Europe’s natural resources, labour, capital and entrepreneurship as well as the general economic conditions which made industrialisation a reality. The exploration efforts of the European nations had allowed for greater discovery of foreign resource rich lands. The exploration had opened numerous all-sea routes to Asia and the Western Hemisphere which European countries
FDI contributes to the integration of the host country into the global economy, particularly through the financial flows received from abroad (OECD, 2002). This relationship is also demonstrated by Mencinger (2003), who provides evidence of a clear link between the increase of FDI and the rapid integration into global trade. This integration generates economic growth which is increased as the country becomes more open (Barry, 2000). The local firms’ integration in the global market is also made by copying and attaining of knowledge held by the multinationals. Multinationals have higher knowledge about internationalization because they have already gone through this process.
One of the most striking developments during the last two decades is the spectacular growth of FDI in the global economic landscape. This unprecedented growth of global FDI in 1990 around the world makes FDI an important and vital component of development strategy in both developed and developing nations and policies are designed in order to stimulate inward flows. In fact, FDI provides a win – win situation to the host and the home countries. Both countries are directly interested in inviting FDI, because both benefit a lot from such type of investment. The ‘home’ countries want to take the advantage of the vast markets opened by industrial growth.
They found more trade routes from Europe to other continent. Therefore, our economy’s transportation today takes old European trade route to deploy and improves it. Not only transportation has been given from Western commercial revolution but trade system. The way how European use stock products, banknote, accounting, cheque and delivery bills in trading process as well as how they started to run shareholders and insurance companies has spread out around the world. Additionally, we add our high technology into the original trade system from Europe.