The Modern Industrial Economy
        Before the beginning of the eighteenth century, europium was in dire need of a transformation. One that would qualifying their style of life, non only for the well being of the countries, just now for the people as well. This transformation could mean the development of nations into realness powers. This need was fulfilled by one word, industrialization. Perhaps the biggest depart in history was the Industrial Revolution of the 18th century. This was not only carrying economic changes, but social changes as well. This ample mechanization from home manufacturing to considerable-scale factory production was without doubt, the largest renewing for labor fabrication.
        Lets take a look at any(prenominal) necessities for a country to industrialize. First of all, raw materials would be involve in whatever industry you would privation to develop. Without a antecedent of power or materials, the product would not be subject to be produced at a large factory. Surplus of aliment is another necessity for industrialization. Without this extensive food supply, laborers would not be fed properly which could result in catastrophic losses. another(prenominal) 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 endorser to this cause. With an ability of laborers to leave their homes and go into factories, people started realizing the positive do 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...
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