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Essay / Research Paper Abstract
This 5 page paper discusses why modern economic growth can be traced to Europe. Bibliography lists 5 sources.
Page Count:
5 pages (~225 words per page)
File: KV32_HVecogro.rtf
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Unformatted sample text from the term paper:
first thing that springs to mind is the Industrial Revolution. It began in Europe, not the U.S., and was perhaps the most important factor of all in explaining economic growth.
Its not possible to overstate the impact of the Industrial Revolution; it changed everything. When the first machines that could handle factory work were developed, employers established factories in the
cities. This resulted in a huge migration of people from rural to urban areas, thus changing the face of society completely. For the first time in history, more people lived
in cities than lived in the countryside. It was also possible for people to provide for their families with much less work than was previously required. Of course there was
a huge downside to the new model as well: conditions in the factories were poor; children were regularly used as laborers; and the hours were brutal. Kuznets notes that
there are six characteristics of modern economic growth that can be identified that will in fact show when this growth is taking place. The first are the "high rates of
growth of per capita product and of population in the developed countries" (248). The second is a rise in productivity; the third is the high rate of "structural transformation of
the economy" (Kuznets 248). One such transformation is mentioned above: the shift of workers from rural to urban centers, as mentioned above. Kuznets traces the change from agricultural to non-agricultural
pursuits; later, from non-agricultural work to services (Kuznets). Along with this shift comes a shift from "personal enterprise to impersonal organization," with a "corresponding change in the occupation status of
labor" (Kuznets 248). Fourth, society and its corresponding ideology have also changed: "Urbanization and secularization come easily to mind as components of what sociologists term the process of modernization" (Kuznets
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