In recent years, scholars from a variety of disciplines have addressed many perplexing questions about the Industrial Revolution in all its aspects. Understandably, economics has become the focal point for these efforts as professional economists have sought to resolve some of the controversies surrounding this topic. This collection contains ten of the best articles written by economists on the subject of the Industrial Revolution ... Among the questions discussed are the causes for the pre-eminence of Britain, the roles of the inputs for growth (capital, labor, technical progress), the importance of demand factors, the relation between agricultural progress and the Industrial Revolution, and the standard of living debate. The essays demonstrate that the application of fresh viewpoints to the literature has given us a considerable new body of data at our disposal, making it possible to test commonly held hypotheses. In addition, this new data has enabled economists to apply a more rigorous logic to the thinking about the Industrial Revolution, thus sharpening many issues heretofore blurred by slipshod methodology and internal inconsistencies.-- Back cover.

Government subsidies have contributed to China's success as manufacturer and exporter in capital-intensive industries. China's state-capitalist regime uses subsidies to stabilize and create common understandings of markets among governments and firms.

World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolu­tion, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear­able sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manu­facturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individu­als. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frame­works that advance progress.

With searing wit and incisive commentary, John Kenneth Galbraith redefined America's perception of itself in The New Industrial State, one of his landmark works. The United States is no longer a free-enterprise society, Galbraith argues, but a structured state controlled by the largest companies. Advertising is the means by which these companies manage demand and create consumer "need" where none previously existed. Multinational corporations are the continuation of this power system on an international level. The goal of these companies is not the betterment of society, but immortality through an uninterrupted stream of earnings. First published in 1967, The New Industrial State continues to resonate today.