How Did Industrial Revolution Impact South Asia?
A research letter written by Michael Cembalest, chairman of market and investment strategy at JP Morgan, and published in the Atlantic Magazine shows how dramatic this economic power shift has been. The size of a nation's GDP depended on the size of its population and labor force in agrarian economies prior to the Industrial era. With the advent of the Industrial revolution, the use of machines relying on energy from fossil fuels dramatically enhanced labor productivity in the West and shifted the balance of power from Asia to America and Europe.
Vision 2047: Political Revolutions and South Asia from WBT TV on Vimeo.
Major East-West Power Shift Since Industrial... by faizanmaqsood1010
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