In: Economics
Industrial Revolution, in modern history, the process of change from an agrarian and handicraft economy to one dominated by industry and machine manufacturing. This process began in Britain in the 18th century and from there spread to other parts of the world.
The Industrial Revolution, now also known as the First Industrial Revolution, was the transition to new manufacturing processes in Europe and the United States, in the period from about 1760 to sometime between 1820 and 1840. This transition included going from hand production methods to machines, new chemical manufacturing and iron production processes, the increasing use of steam power and water power, the development of machine tools and the rise of the mechanized factory system. The Industrial Revolution also led to an unprecedented rise in the rate of population growth.
The Industrial Revolution added coal-fired steam to the ancient energy technologies of wind, water and animal muscle. In so doing, it opened the way for the new transportation revolution of the railroad. Prior to railroads, the cost of goods doubled every twenty miles or so because of transportation costs.