Characteristics Of Industrialization

Industrialization is the process by which an economy is transformed from primarily agricultural to one based on the manufacturing of goods. Individual manual labor is often replaced by mechanized mass production, and craftsmen are replaced by assembly lines. Characteristics of industrialization include economic growth, more efficient division of labor, and the use of technological innovation to solve problems as opposed to dependency on conditions outside human control. But now the question is what happens before industrialization occurs? (http://www.investopedia.com/terms/i/industrialization.asp)

This is how it all started in the great age of maritime exploration and discovery which led to the initiation of all water routes between Europe and Asia, and the success which gave the Europeans supremacy over the northern hemisphere and an advantage to take settlement there. These events one after another and other events

(Camerom,1993:106)

When the Spanish government wanted to stop the exportation of bullion but that was technically impossible, as the government itself failed to comply to that, leading to the bullion being spread throughout Europe which led to continued price increases which tripled at the end of the sixteenth century. which left the rise in money wages lagging behind the rise in commodity price, and created a critical decline in real wages.