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Industrialisation or industrialization is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive reorganisation of an economy for the purpose of manufacturing . [ 3 ]
The term Industrial Revolution applied to technological change was becoming more common by the late 1830s, as in Jérôme-Adolphe Blanqui's description in 1837 of la révolution industrielle. [ 29 ] Friedrich Engels in The Condition of the Working Class in England in 1844 spoke of "an industrial revolution, a revolution which at the same time ...
The Industrial Revolution altered the U.S. economy and set the stage for the United States to dominate technological change and growth in the Second Industrial Revolution and the Gilded Age. [28] The Industrial Revolution also saw a decrease in labor shortages which had characterized the U.S. economy through its early years. [29]
The "Gilded Age" that was enjoyed by the topmost percentiles of American society after the recovery from the Panic of 1873 floated on the surface of the newly industrialized economy of the Second Industrial Revolution. It was further fueled by a period of wealth transfer that catalyzed dramatic social changes.
One of the real impetuses for the United States entering the Industrial Revolution was the passage of the Embargo Act of 1807, the War of 1812 (1812–15) and the Napoleonic Wars (1803–15) which cut off supplies of new and cheaper Industrial revolution products from Britain. The lack of access to these goods all provided a strong incentive to ...
Stalin announced the start of the first five-year plan for industrialization on October 1, 1928, and it lasted until December 31, 1932. Stalin described it as a new revolution from above. [12] When this plan began, the USSR was fifth in industrialization, and with the first five-year plan moved up to second, with only the United States in first ...
At the conclusion of its eighth and final rate-setting policy meeting of the year on December 18, 2024, the Federal Reserve announced it was lowering the federal funds target interest rate by 25 ...
Tariffs have historically served a key role in the industrialization of the United States. Their purpose was to generate revenue for the federal government and to allow for import substitution industrialization (industrialization of a nation by replacing imports with domestic production) by acting as a protective barrier around infant ...