The First Industrial Revolution

An industrial revolution is the process of economic change by which a country is shifted on to a path of sustained growth in productivity and living standards. It represents the origins of modern industry in today's developed countries and it is what today's developing countries are now trying to promote or to bring to a successful conclusion. The book identifies the strategic changes in economic organisation, industrial structure and technological progress associated with the industrial revolution whichtook place in Britain over the century 1750-1850 and which marked a watershed in world economic development - the beginnings of modern economic growth for today's developed countries and an example of spontaneous industrialisation for today's third worldcountries. The book assesses both starting point and achievement, analyses the substance of economic transformation and evaluates the role of government policy and institutional change in retarding or accelerating economic development....