Answer:
The Industrial Revolution was the transition to new manufacturing processes in Europe and the United States, in the period from between 1760 to 1820 and 1840.[1] This transition included going from hand production methods to machines, new chemical manufacturing and iron production processes, the increasing use of steam power and water power, the development of machine tools and the rise of the mechanized factory system. The Industrial Revolution also led to an unprecedented rise in the rate of population growth.
Textiles were the dominant industry of the Industrial Revolution in terms of employment, value of output and capital invested. The textile industry was also the first to use modern production methods.[2]: 40
The Industrial Revolution began in Great Britain, and many of the technological and architectural innovations were of British origin.[3][4] By the mid-18th century Britain was the world's leading commercial nation,[5] controlling a global trading empire with colonies in North America and the Caribbean, and with major military and political hegemony on the Indian subcontinent, particularly with the proto-industrialised Mughal Bengal, through the activities of the East India Company.[6][7][8][9] The development of trade and the rise of business were among the major causes of the Industrial Revolution.[2]: 15
The Industrial Revolution marks a major turning point in history; almost every aspect of daily life was influenced in some way. In particular, average income and population began to exhibit unprecedented sustained growth. Some economists have said the most important effect of the Industrial Revolution was that the standard of living for the general population in the western world began to increase consistently for the first time in history, although others have said that it did not begin to meaningfully improve until the late 19th and 20th centuries.[10][11][12]
GDP per capita was broadly stable before the Industrial Revolution and the emergence of the modern capitalist economy,[13] while the Industrial Revolution began an era of per-capita economic growth in capitalist economies.[14] Economic historians are in agreement that the onset of the Industrial Revolution is the most important event in the history of humanity since the domestication of animals and plants.[15]