Industrial Revolution and the Expansion of Europe: The Consequences on the Economies of Developing Nations

Abstract

This paper examines the expansion of Europe in the wake of the  
Industrial Revolution and the consequences thereof on the economies 
of  developing nations. The paper employed the qualitative research 
design  by relying heavily on existing secondary data. The paper 
utilized the  Capitalist Theory as a framework of analysis. Findings 
from the research  revealed that the industrial revolution and the 
subsequent expansion in  Europe led to the infiltration and 
disarticulation of the economies and  culture of the developing nations. 
Therefore, the paper concluded that the  Industrial Revolution 
transformed the social-economy of Europe. The  creation of an 
industrial proletariat produced a whole new force for  change. The 
development of a wealthy industrial middle class presented  a challenge 
to the long-term hegemony of landed wealth. Though that  wealth had 
been threatened by the fortunes of commerce, it had never  been 
overturned. Sequel to the above findings and conclusion, the paper  
recommended that thepolitical elites and leaders in developing nations  
across the globe need to understand and apply the principles of 
industrial  revolution as state policy in order to improve the lots of their 
subjects and  create enabling environment for a modern state system; 
developing  nations should stimulate primary production to enhance the  
competitiveness of real sector participation in their economies.