What is industrialisation/modernisation? What is its definition?
Industrialisation/modernisation = Increasing output by using technology (in agriculture, industry and services – in that order).
This is the core/heart/essence of industrialisation or modernisation.
From the Encyclopedia Britannica ("Economic Development"):
"A broader view of industrialisation is more relevant to economic development. In this sense, industrialisation is the application of modern science, technology and management to the task of raising the productivity of resources – not only in the manufacturing sector but in the economy as a whole, including the agricultural sector."
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1 comment:
Nice post. Industrialization & modernization both are the symbol of a country growth.
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