Before the industrial revolution, per capita GDP in nations differed by a factor of little over time and across countries.
The first three industrial revolutions that had an impact on our contemporary society are listed above. The steam engine, the age of science and mass production, and the rise of digital technology were three innovations that fundamentally altered the world as we knew it.
Agriculture and handicrafts-based economies were replaced by economies based on large-scale industry, mechanized manufacturing, and the factory system during the Industrial Revolution. Existing industries became more productive and efficient as a result of new equipment, power sources, and organizational techniques.
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