Industrial Revolution (1770-1900) (1 gen 1770 anni – 1 gen 1900 anni)

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The Industrial Revolution marked a period of innovation and development in the latter half of the 18th century that transformed rural societies in Europe and America into industrialized, urban/modern ones. Fueled by the use of steam power, the Industrial Revolution began in Britain and spread to the rest of the world by the 1830s and ‘40s. this was know by historians as the first industrial revolution. The second industrial revolution was a time period that took place from the late 19th to early 20th centuries and saw rapid advances in the steel, electric and automobile industries. Banks and industrial financiers rose to new heights during the period, as well as a brand new factory system that was dependent on owners and managers. A stock exchange was established in London in the 1770s and the New York Stock Exchange was founded in the early 1790s creating a new economy in the Americas. In 1776, Scottish philosopher Adam Smith who is regarded as the founder of modern economics, published "The Wealth of Nations". In it, Smith promoted an economic system based on free enterprise, the private ownership of the means of production, and lack of government interference. creating a more individualist look on the economy and changing our world, and the way we look at money, forever. In the decades to come, outrage and anger was prevalent over terrible working and living conditions. this would cause the formation of labor unions, as well as the passing of new child labor laws and health regulations in both Britain and the United States, all intended to improving life for working class and the poor who had been negatively impacted by industrialization.

-History.com Editors (2019) Industrial Revolution. https://www.history.com/topics/industrial-revolution/industrial-revolution

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