Thursday, January 18, 2007

Industrialization

A process of social and economic change from pre-industrial (an economy where the amount of capital accumulated per capita is low) to an industrial state. This is closely intertwined with technological innovation, particularly the development of energy production and metallurgy.

Most pre-industrial economies, the majority of the population were focued on producing what they need to survive. Majority of people became the labour force in arigculture. However, producing food and products don't make profits. It is the trade and commerce make all the money off the production. -------Increasing trade and commercialisation happened everywhere in industrial regions.

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