Industrial Revloution

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use of capital—physical plant and equipment produced for the express purpose of increasing efficiency. A reliance on tools and machinery allowed individual workers to produce more goods than before, and the advantages of experience with a particular task, tool, or piece of equipment reinforced the trend toward specialization.
The growth of specialization and the application of capital to industrial production created new class distinctions. New social and vocational classes emerged that were distinguished from workers by virtue of their ownership or control of the physical means of production. The members of these new classes came to be known as capitalists.
Because the first Industrial Revolution occurred in Great Britain, that country became for a time the workshop of the world. For much of the 18th century, London had been at the center of a complex world trade network that became the basis for the growing export trade associated with industrialization. The export market ...

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