The Industrial Revolution and the Industrious Revolution

Abstract

The Industrial Revolution as a historical concept has many shortcomings. A new concept—the “industrious revolution”—is proposed to place the Industrial Revolution in a broader historical setting. The industrious revolution was a process of household-based resource reallocation that increased both the supply of marketed commodities and labor and the demand for market-supplied goods. The industrious revolution was a household-level change with important demand-side features that preceded the Industrial Revolution, a supply-side phenomenon. It has implications for nineteenth- and twentieth-century economic history.