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industrial revolution:

generic identity of an industrial development upheaval brought about by technological, economic, and political changes. Great Britain was the locale of a significant enterprise and economic development event in the 18th century when it kicked off the Industrial Revolution—the term is case-sensitive because it identifies when and where major changes in agriculture, manufacturing, mining, and transport had a profound effect on the socioeconomic and cultural conditions starting in the United Kingdom, then subsequently spreading throughout Europe, North America, and eventually the world (source of quote).

The quote points to the revolutionary industrial development event that gave rise to what would eventually become identified as the practice of economic development during the latter half of the 20th century. An influential economist and political scientist of the 20th century, Joseph Schumpeter (1883-1950) brought economic development into the picture with publication of The Theory of Economic Development in 1912.


related: industry; industrial; economy; About Economic Development

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FYI: definition of industrial revolution define industrial revolution what was the industrial revolution that triggered industrial development, then economic development goes back to the Industrial Revolution define Industrial Revolution definition of Industrial Revolution

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Economic Development Services, Inc. / copyrights and all rights reserved / 12/17/2012