The industrial revolution can be defined as a transformation era of countries by the utilization of machines and tools for the production of commodities in the market sector. It had marked a significant role in the progress of economic development of countries all over the globe. What was the role of the Industrial Revolution in the transformation of the economic progress of various countries? This was one of the main topics researched by historians across the world.
Delay in productivity of businesses was reported to as one of the main causes of poor business growth and economic instability among worldwide nations. Finding an exact solution for the delay in productivity may not be an easy task without the use of proper machines and tools. The above situation was reversed by the transformation era of the industrial revolution period characterized by the development of innovative machines. The introduction of innovative machines for business growth had played a major place in uplifting the productivity of the company to great heights. Enhanced productivity in businesses had already done a great job in promoting the employment sector of worldwide nations. High demand in the market and increased productivity in businesses were two main factors that had directly raised the economic growth of the country.
History of the industrial revolution
The industrial revolution, while defining the history was started in Britain during the 18th century. It was then driven to various countries in the later nineteenth and twentieth centuries in later years. Difficulties in business growth without the use of innovative machines were the main topics highlighted by leaders across the world. The industrial revolution that was begun during the 18th century had marked an end to the above-specified problems. Studies have reported the initiation of the industrial revolution in Asian countries during the 20th century and in American countries during 19 century time period.
Effects of the industrial revolution
The impact of the industrial revolution in promoting the scalability of multinational companies was one of the main topics listed in historic books. Industrial growth had also promoted the scalability of small-scale groups of businesses in the local market sector so as to promote the socio-economic progress of the Nation. Apart from the scalability of small to large-scale industries, the industrial revolution had also provided a wide impact in promoting the cultural growth of countries by enhancing the worldwide communication media options like radion and television. The use of innovative tools for the promotion of productivity in companies had provided a great return of the invested value.
Time delay in promoting the productivity of products was driven way to financial losses in businesses during early periods. The above difficulty was alleviated by the utilization of machine tools that had increased productivity within a short period of time. The utilization of iron and steel for the production of machine parts and the usage of renewable and non-renewable sources of energy for power production were some of the most exotic topics highlighted in the history of the industrial revolution.
The transformation of an underdeveloped country to a developing country and then to a developed nation was made faster with the help of the industrial revolution. The industrial revolution had not only created its trademark in the mechanical field but had also marked a great boom in the telecommunication options like radio and telegraph. The utilization of machines and tools for the promotion of productivity in businesses can not only save the time of users but can also save money by ensuring a wide range of advantages.
Unemployment was one of the main factors triggered during the early 18th and 19th centuries in India. The introduction of machinery equipment due to the impact of the industrial revolution had promoted the worldwide scalability of businesses to minimize the troubles due to unemployment. Eradicating poverty in underdeveloped countries was not an easy task during the 18th and 19th centuries. The impact of the industrial revolution had thus transformed the face of the economic growth of countries by providing employment opportunities to thousands of people across the world. Hence an increase in employment options due to the industrial revolution and modernization of industries to provide high-quality products had marked a great economic boom in the market sector.