Year: 2024
Type: article
Abstract: This article challenges the traditional view that the Industrial Revolution drove sustained economic growth globally and re-evaluates the impact of this important historical period from a non-Western perspective. The article points out that while the Industrial Revolution is often seen as a turning point for global economic prosperity, non-Western countries struggled with the aggression, colonization, and exploitation of Western imperialism during industrialization. Meanwhile, there were also problems of worsening economic inequality and social instability within Western countries. Furthermore, the article emphasizes the concept of "creative destruction", noting that the Industrial Revolution created new economic structures and opportunities while destroying traditional systems and causing profound social and economic changes. Therefore, the author argues that viewing the Industrial Revolution as a mere catalyst for global economic growth is a too simplistic understanding, neglecting its complexity and diversit.
Author: Weiqing Xiang
Institution: Nanjing University of Science and Technology
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4405729787