What factors contributed to industrialization in the EUA?

Several factors contributed to the industrialization of the EUA (European Union and the United States) in the 19th and early 20th centuries. Firstly, the presence of abundant natural resources played a vital role in fostering industrial growth. Both regions possessed extensive deposits of coal, iron ore, and other essential minerals, which facilitated the development of industries such as steel production and mining. Additionally, a large population of rural workers transitioning to cities provided a readily available labor force to fuel industrial expansion. Technological advancements, including the invention of new machinery and the steam engine, also revolutionized production methods, increasing productivity and efficiency. Lastly, favorable government policies and capitalist economic systems encouraged entrepreneurship and investment, leading to the establishment of factories and the growth of industries. Combined, these factors propelled the industrialization of the EUA and contributed to their economic dominance on a global scale.

This mind map was published on 9 August 2023 and has been viewed 109 times.