Industrial Revolution (1 янв 1700 г. – 1 янв 1900 г.)
Описание:
The industrial revolution was a period in time in which production was increased by the use of machinery and newly discovered energy source. Many people moved to the cities to look for work because wages were low and the cities were in need of workers for the factories. Steam engines and the use of coal as an energy source had a significant impact on the industrial revolution. A series of interconnected innovations such as the spinning jenny, the telegraph, the light bulb and man y more; just as progress in the Renaissance the creation and discovery of one would aid in the creation and discovery of something else. The industrial revolution also changed the economy from mercantilism to capitalism. Free market and competition was encouraged. However because of the rising competition and abundance of workers in cities poor working conditions, child labor and poor wages became very common in industrialized areas.
This period significantly promoted an economy with principles based on liberal concepts. Private property, economic freedom , competition, little government involvement and self interest was encouraged and practiced during this period of time. Changing the economy from one which followed the policies of mercantilism to one that followed those of capitalism promoted principles of individualism and would forever change how economies functioned.
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