Characteristics of Industrilzation
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ECONOMY ECONOMICS
Industrialization
By JIM CHAPPELOW
Updated Jul 25, 2019
What Is Industrialization?
Industrialization is the process by which an economy is transformed from primarily agricultural to one based on the manufacturing of goods. Individual manual labor is often replaced by mechanized mass production, and craftsmen are replaced by assembly lines. Characteristics of industrialization include economic growth, more efficient division of labor, and the use of technological innovation to solve problems as opposed to dependency on conditions outside human control.
KEY TAKEAWAYS
Industrialization is a transformation away from an agricultural- or resource-based economy, toward an economy based on mass manufacturing.
Industrialization is usually associated with increases in total income and living standards in a society.
Early industrialization occurred in Europe and North America during the 18th and 19th centuries, and later in other parts of the world.
Numerous strategies for industrialization have been pursued in different countries over time, with varying levels of success.
Industrialization
Understanding Industrialization
Industrialization is most commonly associated with the European Industrial Revolution of the late 18th and early 19th centuries. Industrialization also occurred in the United States between the 1880s and the Great Depression. The onset of the Second World War also led to a great deal of industrialization, which resulted in the growth and development of large urban centers and suburbs. Industrialization is an outgrowth of capitalism, and its effects on society are still undetermined to some extent; however, it has resulted in a lower birthrate and a higher average income.
Industrial Revolution
The Industrial Revolution traces its roots to the late 18th century in Britain. Prior to the proliferation of industrial manufacturing facilities, fabrication and processing were generally carried out by hand in people's homes. The steam engine was a key invention, as it allowed for many different types of machinery. Growth of the metals and textiles industries allowed for the mass production of basic personal and commercial goods. As manufacturing activities grew, transportation, finance, and communications industries expanded to support the new productive capacities.
The Industrial Revolution led to unprecedented expansion in wealth and financial well being for some. It also led to increased labor specialization and allowed cities to support larger populations, motivating a rapid demographic shift. People left rural areas in large numbers, seeking potential fortunes in budding industries. The revolution quickly spread beyond Britain, with manufacturing centers being established in continental Europe and the United States.
Later Periods of Industrialization
World War II created unprecedented demand for certain manufactured goods, leading to a buildup of productive capacity. After the war, reconstruction in Europe occurred alongside a massive population expansion in North America. This provided further catalysts that kept capacity utilization high and stimulated further growth of industrial activity.