Nature of the Industrial Revolution There has been much objection to the term because the word revolution suggests sudden, violent, unparalleled change, whereas the transformation was, to a great extent, gradual. Some historians argue that the 13th and 16th cent. were also periods of revolutionary economic change. However, in view of the magnitude of change between 1750 and 1850, the term seems useful. Dramatic changes in the social and economic structure took place as inventions and technological …
showed first 75 words of 972 total

showed last 75 words of 972 total
…also brought a need for a new type of state intervention to protect the laborer and to provide necessary services. Laissez faire gradually gave way in the United States, Britain, and elsewhere to welfare capitalism. The economic theories of John Maynard Keynes reflected this change. The Industrial Revolution also provided the economic base for the rise of the professions, population expansion, and improvement in living standards and remains a primary goal of less developed nations.