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The category of newly industrialized country ( NIC ), newly industrialized economy ( NIE) [1] or middle income country [2] is a socioeconomic classification applied to several countries around the world by political scientists and economists. They represent a subset of developing countries whose economic growth is much higher than that of other ...
Industrialisation also means the mechanisation of traditionally manual economic sectors such as agriculture. Factories, refineries, mines, and agribusiness are all elements of industrialisation. Industrialisation ( UK) or industrialization ( US) is the period of social and economic change that transforms a human group from an agrarian society ...
The Industrial Revolution was a period of major economic, social and technological change that transformed the world from an agrarian to an industrial society. Learn about the causes, effects and innovations of this historical phenomenon on Wikipedia, the free encyclopedia.
The new machines helped to improve the productivity of each worker. However, industrialisation also involved the exploitation of new forms of energy. In the pre-industrial economy, most machinery was powered by human muscle, by animals, by wood-burning or by water-power. With industrialisation these sources of fuel were replaced with coal ...
Developing country. A developing country is a sovereign state with a less developed industrial base and a lower Human Development Index (HDI) relative to other countries. [3] However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category.
The early technological and industrial development in the United States was facilitated by a unique confluence of geographical, social, and economic factors. The relative lack of workers kept U.S. wages generally higher than salaries in Europe and provided an incentive to mechanize some tasks.
The industrialization of China refers to the process of China undergoing various stages of industrialization and technological revolutions. The focus is on the period after the founding of the People's Republic of China where China experienced its most notable transformation from a largely agrarian country to an industrialized powerhouse.
Modernization theory was a dominant paradigm in the social sciences in the 1950s and 1960s, and saw a resurgence after 1991, when Francis Fukuyama wrote about the end of the Cold War as confirmation on modernization theory. [3] The theory is subject of much debate among scholars. [1] [4] [5] [6] Critics have highlighted cases where ...