The confluence of developments in technology, labor and management practice, and market expansion in the period from 1760 to 1850 so drastically altered the context of economic relations that, taken together, these changes have earned the name, Industrial Revolution. This book, the first in a series of titles to explore turning points and important events in business history, explains the nature of these changes, how they came about, how people reacted to the new economic environment, and the direct impact that they have had on the way business is conducted today. This volume will address how the Industrial Revolution played out in Europe, the United States, and the rest of the world, emphasizing the role of the government in both promoting and regulating commerce. It will clarify the important distinctions between the original Industrial Revolution and the second Industrial Revolution (approximately 1850 to the early 20th century), which was characterized by accelerating growth, brought about the introduction of the internal combustion engine, electric power, and other technological and managerial developments. Featuring biographical sketches, photos, a timeline, a glossary of key terms, and excerpts of primary documents, The Industrial Revolution reveals the daily life of the entrepreneurs, bureaucrats, and workers who experienced the dramatic changes in technology, business, and trade, and the resulting changes in society and culture.
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