The industrial revolution of Europe was the most significant occurrence in human culture after the humans started applying agricultural techniques about 8,000 to 10,000 years ago. The industrial revolution not only changed the methods, techniques and activities of managing human labor and capital but also changed the way companies, societies and families were managed. Rapid technological advancement during the revolution not only helped European industries in implementing mechanical and automated functions of production but industries of other nations also benefited from inventions during this era.
The industrial revolution not only helped factories and production processes but the area of finance also experienced progress during this period. The evolution of financial management techniques coupled with the ideological phenomenon of liberalism further improved policies of production and labor.
The objective of this essay is to highlight the chronological progress of technological, ideological and financial concepts and techniques in Europe. The paper will also discuss the advantages of these concepts and how Europe became one of the most powerful regions in the world during the eighteenth century.
Although Europe was regarded as an undeveloped continent the industrial revolution started in Great Britain in 1450 and later spread to other parts of the world. The revolution which started in Great Britain later spread to other countries of Europe and North America. This technological advancement was quite phenomenal in Western European countries during the twelfth and thirteenth centuries because during this period Vasco de Gama and Christopher Columbus explored Native American lands (Topik and Pomeranz).
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