Industrial revolution from 1760 first led to better living standards in Europe & USA; Now billions in Asia benefit from it; WEF chief Brende on South Asian economy growth
Last updated on 5th Oct. 2019 Firstly, let us see how Industrial Revolution has contributed to improvement of standard of living: Some points taken from introduction section of https://en.wikipedia.org/wiki/Industrial_Revolution are given below: * First Industrial Revolution was from 1760 to sometime between 1820 and 1840. It involved transition from hand production methods to new manufacturing processes involving machines and mechanized factories in Europe and the United States. * Textiles were the dominant industry of the Industrial Revolution in terms of employment, value of output and capital invested. The textile industry was also the first to use modern production methods.[Ref: David S. Landes (1969). The Unbound Prometheus. Press Syndicate of the University of Cambridge. ISBN 978-0-521-09418-4.] * The first industrial revolution was a major change event in history impacting lives of people. Average income and population started showing unprecedented sustained growth...