Development of World Economies (Coursework Sample)

Development of World Economy
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Question 9
The Industrial revolution is traditionally considered the most important break in the history of mankind since the Neolithic period (Cameron, 1997, p.45). The period took place between 1760 to around 1850 (Cameron, 1997, p.46). The years vary for different countries since they did not transit to the new methods simultaneously. The Industrial revolution marked a period of the birth of self-sustained processes towards economic growth and effectiveness of duties (Cameron, 1997, p.47). The transition included going from the manual ways of production where human labor was used, to using machines for production. Many companies were established.
The industrial revolution was very important because it marked a major turning point in the lives of the people at that time. The living standards of the people underwent a sustained growth due to the increased activities that were brought about by the development of industries (Cameron, 1997, p.50). This was a major breakthrough because if it never took place, the living standards of people would have remained low and production would still be subsistence (Cameron, 1997, p.50). People would still be confined and they would not be doing any efficient and important thing that would earn them income.
Industrial revolution improved efficiency of work since use of human labor force and simple tools/machines would not always give the desired results. This revolution marked an important break in the history of humankind since work was done efficiently with the use complex machines that were invented (Cameron, 1997, p.54). The efficient operations raised the income per capita for many nations and in turn, raised the economies of the country due to the vast activities that were carried out by the new industries established (Cameron, 1997, p.55).
Industrial revolution also improved the transport sector. The development of machines that could curve and turn metallic parts made it possible for the development of big engines that would travelled for quite long distances without hitches. The engines enabled the movement of people from one region to another for purposes of trade and made touring easy. This in turn led to the growth of the overall economy of countries that adapted to the industrial revolution. Industrial revolution is perceived to be the main reason why there are great technological advancements in the modern society (Cameron, 1997, p.58).
Question 8
The solitary route to the 21st century traversed through North Britain in the late 18th century because Industrial Revolution began in this country (North et al., 1992, p.67). Industrial revolution began in Britain and later on spread to Western Europe and the United States (Cameron, 1997, p. 60). This period marked vast transformation in the manufacturing and transportation sectors that would completely change the world economic growth up to date. Industrial revolution came with the birth of many industries and major alteration in the transport system used. Britain was at the epicenter of the major transformations because Industrial Revolution began there.
Industrial revolution greatly changed the mind frame of the people from the laid back communists to the aggressive capitalists who worked hard to raise money that would cover their needs. The birth of industries came with many job opportunities for the people with better pays and working conditions. This made people go for the jobs and in turn it improved the living standards of people greatly since they would earn good money from the many industries that were established. Industrial revolution made work for the people very easy because there were machines that were invented to make work easier and more effective than it was before (Cameron, 1997, p.61). These changes that were brought about by the revolution irreversibly altered the way people live and work up to current times. Changing the mindset of people to go back to the communist ways where production is subsistence is an impossible task.
Industrial revolution altered and raised the economic levels of the countries starting with Britain where it began. The revolution, which led to rise of industries in countries, changed the economic path of the world up to current time. Establishment of many industries enhanced trade between countries which improved the economic conditions of the world. Countries became self-sufficient due to the birth of industries and transformation of the transport means. The revolution made people aware that they could earn a living out of their skills and other attributes. This completely changed the mind set of people making them exploit their skills while raising their economic status. It greatly improved the living standards of people and made them smarter than they were before. The current diversified industries in the world are a product of Industrial revolution that started in Britain in the late 18th century.
Industrial revolution that started in Britain in late 18th century is the main cause for the current economic conditions of countries in the world (Cameron, 1997, p.62). The revolution changed the perception of people making them strive to improve themselves economically, a scenario that is seen up to date and can never be reversed under what circumstance. The current technological and economic advancements of 21st century are a work of the revolution that took place in the late 18th century (Cameron, 1997, p.62).
Question 5
The small island of Great Britain played quite a decisive role in the world economic history by being the country where the industrial revolution began (Rosenberg et al., 1986, p.57). If the country decided not to adapt the technology changes that were brought about by the revolution, then industrial revolution could not have occurred and spread about as it did. Great Britain played such a decisive role in the economic history since it adopted the new changes that brought about establishment of industries and transformation of other sectors like transportation. The revolution kick started in Britain spread to other Western Europe countries and United States and later on to the rest of the world leading to complete transformation of the economy of world (Cameron, 1997, p.62).
The economy of many countries took a very positive turn due to Industrial Revolution. The establishment of industries enabled countries to...