Evolution of the “Industrial Revolution” Phenomenon: Prerequisites and Factors

Abstract

The article analyzes the evolution of the “Industrial Revolution” phenomenon, which makes it possible to form the author’s position on the phenomenon under study, contributing to the transformation of the economic system of society at similar stages of its development as a whole. Four Industrial Revolutions are analyzed in terms of the existing prerequisites for the transition in accordance with the time intervals of each of them, as well as the factors that influenced the analyzed phenomenon. The main features of the first (18th – 19th centuries), second (second half of the 19th century – early 20th century), third (1960 – the first decade of the 21st century), fourth (2011 – up to the present time) industrial revolutions are defined. Based on the system analysis, the components of each of the industrial revolutions are identified, as well as the factors (hindering their development or having a beneficial effect on it) that have had a different impact on them. The economic and institutional aspects of all industrial revolutions are reflected, as well as their impact on economic systems on a global and national scale is shown. As a result of the study, the features of the development of economic systems at various levels that accompany the “entry” of states into the realities of the Industrial Revolution 4.0 were revealed, and the possibilities of their further adaptation and transformation in the future were indicated.