Aug 20th, 2016
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University of Alaska Southeast
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Running head: INDUSTRIAL AND MARKET REVOLUTIONName:Course code & title:Institution:Date:1INDUSTRIAL AND MARKET REVOLUTION2Industrial and Market RevolutionIndustrial RevolutionIntroductionIndustrial revolution describes a period in history from 1760s to sometimes around the1820s. This time period was characterized by a transition into new processes of manufacturingand producing products, agricultural development, transport modalities and technologicaladvancements. The transition involved various changes that featured innovative practices in theworld history. Numerous striking developments were observed during this period, developmentsthat marked the beginning of some of the technological advancements that we see and enjoytoday (Ashton, (1997)).CausesThe first industrial revolution started in 1750 in Great Britain before spreading to the US.Numerous factors played crucial roles in making Britain a favorable place for industrialization.Firstly, a revolution seen in agriculture in the 18th century provided an ideal climate for industrialdevelopment. By raising food supply, the British citizens could be taken care of at significantlyreduced prices and effort than had been observed in history. The excess food translated thatfamilies could be able to use finances they saved to acquire manufactured products. Also,population increase and rural to urban migration of farmers in search of wage-labor providedsufficient supply of workers for the developing i

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