The Industrial Revolution The Industrial Revolution was a period in history when mankind found innovative and efficient ways of producing goods, manufacturing services and creating new methods of transportation. This not only revolutionized the way the market system functioned, but also changed the way people perceived their status in society and what they required as basic necessities. However, the price that humanity was forced to pay for the emergence of the Industrial Revolution greatly outweighed the rewards that it brought alongside its origin. Prior to the Industrial Age, the Western European market operated on a simple "putting-out" system. The average producer was able to manufacture a product in the same area that he or she lived on and the demand for that product was usually set by a few local consumers. The process was easy and simple, pro....

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