Discuss the interpretation of First Industrial Revolution as an Term Paper

Discuss the interpretation of First Industrial Revolution as an Industrious revolution - Term Paper Example Due to the introduction of improved methods, production could be made at a much larger scale than before. Improvements in methods of production and production possibilities in large scale allowed the manufacturers to produce better quality products at lower cost and within a lower period of time than it could produce previously. There are debates regarding the origin of the industrial revolution. According to some authors and historians, the beginning of the revolution was in Britain. The industrial revolution has been often termed as British invention. However, according to some other sources the roots of the revolution is unclear. Several European countries participated in the revolution and made it a global success. Some researchers have claimed that the term was first coined in France. Significant improvements can be found to have taken place during this period in France in economic as well as social spheres. These combined changes were named as ‘revolution industrielleâ₠¬â„¢ in France and it was considered to be an economic counterpart of the political revolution that was taking place in the country during the period. Industrious revolution One thing is apparent from this discussion; it is that the industrial revolution took place as a result of considerable hard work and diligent attitude of the people that took the leading position in this revolution. The industrial revolution is the outcome of an ‘industrious revolution’ that took place in different parts of the world to improve the status of production units in the economies that participated in this activity. It took the form of industrial revolution when many countries from Europe as well as Asia took part in it. The phase of industrious revolution was prior to the industrial revolution between the 17th century and the 19th century. According to some scholars, this revolution was the forerunner of the industrial revolution (Craig and Thomas 248). The phenomenon of industrious rev olution refers to the spending behavior of households during the 17th century. Therefore, it relates to the production as well as consumption of products and services. The simplistic explanation of the cause of revolution is that there was an unprecedented rise in demand for goods and services in the market. The industrious revolution took place before the industrial revolution took shape. Understanding of the industrious revolution would allow readers to understand the context of the industrial revolution better. According to information revealed by various sources, the first industrial revolution took place in the early Modern Period. The period of revolution was characterized by availability of excess of money as well as excess amount of food crops. This was the result of development of new technology and methods of production. However, the force that led to these technological advancements took shape during the pre-industrial revolution period, known as industrious revolution. D uring this period England moved from being an economy with sporadic technological changes to an economy in which persistent technological advancements took place. Well known historians, Joachim Voth and Jan de Vries have

Russia's Most Important Economic Sectors Essay Example | Topics and Well Written Essays - 1250 words

Russia's Most Important Economic Sectors - Essay Example Shortly after liberty, the new Russian government announced a much more determined program of political and economic reformation. The agenda included an alteration of the financial system from the values of state planning which is the basic and administrative direction to the well agreed market-based economics. As result â€Å"The economic decline bottomed out in mid-2009 and the economy began to grow in the third quarter of 2009† (Economy – Overview n.d.). On the other side, Russia’s financial growth was still focused mainly in a few sectors. The advantages of growth were not widely dispersed throughout the society. Over one-third of the people of the Russian Federation sustained to live below the poverty line. According to some study it is very clear that Russia’s long term challenges are inadequate workplace, corruption, complexity in accessing capital for smaller – non energy companies, and deprived infrastructure in need of huge investments. Ru ssia ranks ninth as the largest economy of the world: it contributes to the sixth place by purchasing power. The country has abundance of the petroleum, oil and natural gas. The country is also the store house of rare and precious metals. Despite the setbacks faced by the other countries in the erstwhile Soviet Union, Russia managed to be in a good position in the world’s economy. The main sectors of the Russian economy are energy, natural resources, agriculture, industry and manufacturing. Energy Sector: One error of the energy business is its construction, which is subjected by government-backed monopoly and distinguished by inequity next to private businesses, small family operators and global players. State-owned company such as Gazprom or Rosneft, as well as several confidential companies with close links to the supporting leadership such as Gennady Timchenko’s Novatek, has privileged admission to licences, upstream assets, tax exception etc. Foreign investors are able to function in Russia only if they set up good functioning relationships with member of the controlling clans. The quickest way to be honored projects and contract in Russia is to present those clans stake in reputable international companies. The energy sector also endures from poor value of administration. Since the rein of Vladimir Putin and his associates to power in 2000, activities to important positions in the Russian establishment, as well as the energy industry, have been made according to certain criterion: individual loyalty and the capability to manage cash flows Natural Resources Including Coal, Gas, Oil, Timber and Metals Sectors: Russia may contain as much as 35% of the world's supply of natural gas. It has proven reserves nearly twice that of Iran, the number two spot holder. Its reserves of oil are debated, but the US Geologic Survey estimates that they may be as high as 25% of the world's oil. The US Department of Energy states: "Russia is also the world's la rgest exporter of natural gas, the second largest oil exporter, and the third largest energy consumer" (Russian Resources 2010). The vast gas, oil, coal, and timber raw materials of Siberia and the Russian Far East create Russia rich in mineral deposits. On the other hand, most such resources are positioned in remote and climatically adverse