00:01
How did the industrial revolution increase the economic growth rate and income levels in the united states? so the industrial revolution, let's have a background of it.
00:18
Industrial revolution was basically the period where there was a major industrialization in the first half of the 18th century.
00:29
So there was a major industrialization, first half of the 18th century.
00:54
So this period, during this period, it was basically an extensive use of power, dream of nationary, and also economic and social change in the country.
01:31
Economic changes.
01:34
So now that we know what the industrial revolution is, we want to know how it's increased the economic growth rate and income levels in the united states.
01:43
So because of the industrial revolution, many jobs, many new jobs were offered higher pay.
01:50
The industrial revolution created many new jobs that offered ira pay.
02:11
And because of the industrial revolution also, a self -reinforcy cycle began and new inventions and investments.
02:18
There was new inventions and investment generated profits.
02:21
So it created new inventions and investments generating profits.
02:26
And this profits were also invested in new investments and investments, which obviously for that provided more profit...