The World Of Trade And Business, The Industrial Revolution...

Name Institution Course Unit Lecturer Date Introduction In the world of trade and business, the industrial revolution is a period in which most of the modern global economic superpowers established their foundation. This was a period between the 18th and the 19th centuries in which rural, agrarian societies in America and Europe were transformed and became urban and industrial. Prior to this period that began in Britain; the manufacturing was mainly done in homes through hand tools and other basic machines that were not widely in use (MacLeod). The period of industrialization marked the beginning of a shift to power, specialized machinery, mass production and factories. Among other industries, the iron and textile industries played a major role assisted by the development of the steam engine. These developments saw the improvement of transportation, banking and communication (Hillstrom). Despite the restrictions that had been placed on the artisans and other shareholders in Britain to avoid a situation where industrial knowledge was leake d to other countries, her interests in colonies opened up avenues through information and knowledge moved to other regions such as America. Factors leading to industrialization in America The embargo of 1807 The embargo of 1807 is one of the key reasons that led to America rethinking her approach on development. During the Napoleonic wars, British navy seized an American cargo to assist in their fight. In addition, Britain opened fire onShow MoreRelatedIndustrial Revolution Essay1152 Words   |  5 PagesSlavery, new energy sources, global trade, and technology all contributed to Britain’s Industrial Revolution.  Jane Burbank and Frederick Cooper emphasize the importance of slavery for the development of the Industrial revolution and capitalism. 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Histories and economist have pointed towards severalRead More industrial revolution Essay853 Words   |  4 Pagespart of the 18th century, a new revolution gripped the world that we were not ready for (Perry, 510). This revolution was not a political one, but it would lead to many implications later in its existence (Perry, 510). Neither was this a social or Cultural Revolution, but an economic one (Perry, 510). The Industrial revolution, as historians call it, began the modern world. It began the world we live in today and our way of life in that world. It is called a revolution becau se the changes it made were