Industrial Economics

For most of human existence, people lived in a somewhat similar fashion. Everything that has been produced, from food and raw materials to clothing and other finished products, has been done either solely by hand or with some help of animal power. This was the same across the eras and throughout the world, no matter how advanced or backward the various civilizations were. Yet, our lives today couldn’t be more different.

The Upper Midwest and Great Lakes region became the "arsenal of democracy" - the greatest manufacturing center in the world-in the years during and after World War II, thanks to natural advantages and a welcoming culture. Decades of unprecedented prosperity followed, memorably punctuated by riots, strikes, burning rivers, and oil embargoes. A vibrant, quintessentially American character bloomed in the region's cities, suburbs, and backwaters.

The Industrial Revolution was a period of shift in Britain, continental Europe, and the USA from around 1760 until at some point between 1820 and 1840, when new production innovations were introduced. The shift from hand to device production, new chemical and iron production strategies, increased use of steam and waterpower, the development of device tools, and the rise of the mechanized factory system were all part of this change. The Industrial Revolution also introduced a period of remarkable population growth.

Considerados como los períodos de mayor cambio socioeconómico y cultural de la historia, estos se iniciaron entre fines del siglo XVIII y principios del XIX en el Reino Unido. La antigua economía basada en el trabajo manual fue remplazada por otra dominada por la industria y manufactura de maquinaria. La sociedad de entonces asistió estupefacta a un nuevo escenario: Las máquinas habían reemplazo al hombre Fue una revolución.