Modern Industrial Economy :: essays research papers

The Modern Industrial EconomyBefore the beginning of the eighteenth century, Europe was in dire need of a transformation. One that would change their style of life, not only for the well being of the countries, but for the people as well. This transformation could mean the development of nations into world powers. This need was fulfilled by hotshot word, industrialization. Perhaps the biggest change in history was the Industrial Revolution of the eighteenth century. This was not only carrying economic changes, but social changes as well. This extensive mechanization from home manufacturing to large-scale factory production was without doubt, the largest conversion for labor fabrication. lets take a look at some necessities for a country to industrialize. First of all, raw materials would be needed in whatever attention you would want to develop. Without a source of power or materials, the product would not be able to be produced at a large factory. Surplus of viands is another ne cessity for industrialization. Without this extensive food supply, laborers would not be fed properly which could result in catastrophic losses. Another major element in the development of industry is entrepreneurs. Since Britain had a sizable middle-class with entrepreneur ideas, they seemed to fit more and more into this equation. Labor Force is also a large indorser to this cause. With an ability of laborers to leave their homes and go into factories, people started realizing the positive effects of big business. One distinct feature that was possessed by Britain was wealth. At the time, Great Britain was one of the wealthiest nations and could afford to dump large sums of money into buildings and export. Finally, one of the last things that were needed that could limit all the other elements is the possession of a government that was open to freshly ideas. If people in a nation could not get their government to back the ideas, they would have nothing. It was up to the entrepre neurs to convince the government officials that money could be do and power could be established.But why did Britain industrialize first? In the beginning of the 18th century, these qualities were not that noticeable. Actually, the Netherlands and France were just as wealthy at the time, had every bit skilled populations, and had just as powerful of an empire. The French government truly was seen as more quick to respond, especially in the area of transportation and communication.