The Industrial Revolution and Its Impact on the Economy

Most of us think that there was one industrial revolution, and for the most part that is what the history books will tell us. But to the contrary, economists actually break down human innovation over previous centuries into three distinct revolutions. This was seen by economists as very distinct from the steam-powered revolution but it had a lot more of an impact on the level of wealth in the economy than the first revolution did. Things like the internal combustion engine facilitated more efficient transport; electricity made working throughout the night not only possible but workable. indoor plumbing was instrumental in allowing larger city centres to come together without breaking down into cesspools of disease.