Industrialization

A process of technological, economic and social transformation which coincides with transition from an agriculture-based to an industry-based economy. Industrialization is a consequence of technological innovation in the means of production which leads to a reduction in production costs and the possibility for goods to access large-scale markets. Economic development also accompanies industrialization, with rising income levels being recorded in each country undertaking a shift in its economic production. Drastic social changes are another factor deriving from industrialization as rural workers begin to be employed in factories, causing the rise of large towns and cities (urbanization). The first wave of industrialization, the Industrial Revolution, occurred in Great Britain in the 19th century and soon expanded to the rest of Western Europe and the United States.