The Nineteenth Century: Industrialization, Society, and Global Power Shifts
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The First Industrial Revolution: Economic Shifts
Around 1780, the Industrial Revolution began in northern England (Manchester). This period marked a fundamental change in technologies, company organization, economy, and society, leading to a transformation in the production of goods. It started when some clothing entrepreneurs began using machinery, which increased productivity, and organized production in factories. Later, steam engines were introduced to power these machines. These business owners, as capital providers, reaped all the profits. These characteristics—the pursuit of profit, the central role of capital providers, and the market's pivotal role in resource distribution—transformed the economic system from late feudalism and... Continue reading "The Nineteenth Century: Industrialization, Society, and Global Power Shifts" »