Differences in Colonialism and Imperialism, Capitalism, Mercantilism, and the Industrial Revolution.(part 2)

### Dear serey all ##### 4. Industrial Revolution The Industrial Revolution was a period between 1750-1850 where there were massive changes in agriculture, manufacturing, mining, transportation, and technology and had a profound impact on social, economic and cultural conditions in the world. The Industrial Revolution began in Great Britain and then spread throughout Western Europe, North America, Japan, and finally throughout the world. https://i.imgur.com/810bX1e.jpg The Industrial Revolution marked a major turning point in world history, almost every aspect of daily life was influenced by the Industrial Revolution, particularly in terms of increasing population growth and sustainable and unprecedented average income. During the two centuries after the Industrial Revolution, the average per capita income of countries in the world more than doubled. As stated by Nobel Prize winner Robert Emerson Lucas, that: "For the first time in history, the standard of living of ordinary people has experienced sustainable growth. Economic behavior like this has never happened before " The British provided a legal and cultural foundation that allowed entrepreneurs to pioneer the Industrial Revolution. The key factors that contributed to the Industrial Revolution included: (1) The period of peace and stability followed by the unification of England and Scotland, (2) no obstacles in trade between England and Scotland, (3) the rule of law (respecting the sanctity of contracts), (4) a simple legal system that allows the formation of joint shares of companies (corporations), and (4) the existence of free markets (capitalism). The Industrial Revolution began at the end of the 18th century, where a shift in the use of labor in England which previously used animal and human labor was replaced by manufacturing-based machinery. The initial period began with the mechanization of the textile industry, the development of iron-making techniques and increased use of coal. Trade expansion was also developed with the construction of canals, repair of highways and railroads. The shift from an agriculture-based economy to a manufacturing-based economy caused displacement massive population from village to city, and ultimately led to a swelling of the population in major cities in England. The beginning of the Industrial Revolution was not clear but T.S. Ashton wrote about 1760-1830. There was no dividing point with the Industrial Revolution II around 1850, when technological and economic progress gained momentum with the development of steam-powered ships, rails, and then at the end of the century the development of internal combustion engines and the development of power plants The factor behind the Industrial Revolution was the scientific revolution in the 16th century with the emergence of scientists such as Francis Bacon, Rene Decartes, Galileo Galilei and the development of research and research with the establishment of research institutions such as The Royal Improving Knowledge, The Royal Society of England, and The French Academy of Science. There are also internal factors such as the resilience of domestic politics, the development of entrepreneurial activities, extensive British colonies and rich natural resources. The term "Industrial Revolution" itself was introduced by Friedrich Engels and Louis-Auguste Blanqui in the mid-19th century. Some 20th century historians such as John Clapham and Nicholas Crafts argue that the gradual process of economic and social change and the long-term revolution is an irony. The per capita gross domestic product (GDP) in the world increased after the Industrial Revolution and gave rise to a modern capitalist economic system. Industrial Revolution marked the beginning of the era of per capita income growth and capitalist economic growth. The Industrial Revolution is considered the most important event that has ever happened in the history of humanity since the domestication of animals and plants in the Neolithic period. ___ ***Continued*** ___ ### Thanks @sunbahri