Historical Events And Their Impact On The World

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Major Historical Events and Their Impact on the World We Live In Today The world we live in today has been shaped by certain events in the past. The Industrial Revolution during the 18th to 19th century, the Industrialization of the 20th century, World War I and World War II, all left traces and have greatly impacted the way we live in today particularly out living standard. The goal of the paper is to discuss the effects of these historical events on the way we live in terms of living standards. The First Industrial Revolution The Industrial Revolution during the 18th to 19th century was referred to as the First Industrial Revolution, which was about the introduction of machines powered by water or steam (‘Did Living Standards Improve during the Industrial Revolution?’ 2013). During this period, Britain transitioned to a machine-based economy, in which machines were viewed as autonomous agent of irreversible change (Wilson, 2014). What is of crucial importance of the First Industrial Revolution to present day standard of living, is that this historical event ushered in the technology by which large-scale, sustained growth was eventually to take place (Heilbroner & Milberg, 2011). For instance, the First Industrial Revolution led to the development of a “mass” consumer market, triggering higher demand and rising pressure to search for new techniques. To illustrate this, take the case of the Society for the Encouragement of Arts and Manufacturers (itself a significant
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