Industrial Revolution
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An Industrial Revolution is an economic revolution that involves a means of production.
- Context:
- It can (typically) include profound shifts in Manufacturing, Work Culture, and other Socio-Economic Relations.
- It can (typically) be characterized by the invention and adoption of new technologies and processes that revolutionize manufacturing and industry.
- It can (typically) be associated with increases in Macro-Economic Measures.
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- Example(s):
- First Industrial Revolution (1760-1840), which saw the introduction of mechanization, steam power, and the factory system.
- Second Industrial Revolution (1870-1914), marked by the growth of mass production, the electrical grid, and railroads.
- Third Industrial Revolution (1960s-2000s), characterized by the rise of digital technology, the internet, and renewable energy.
- Fourth Industrial Revolution (2010s-onward), featuring the convergence of digital, biological, and physical innovations.
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- Counter-Example(s):
- A Financing Revolution, such as the Banking Revolution (16th-18th century) or a Currency Revolution.
- A Social Revolution, which fundamentally alters social structures and governance.
- An Agrarian Revolution, such as the British Agricultural Revolution (17th-19th century).
- See: Gross Domestic Product, Capitalism, Economic Growth.