The First Industrial Revolution,
based in Britain in the early 1800s, was about iron, textiles, and the
new steam engine.
The Third Industrial Revolution, based in the United States, is in "high knowledge" industries, primarily
In these high-knowledge sectors, a few key innovations have had wide-ranging effects on all production and consumption. In the process, they have dramatically raised income and transformed the economy, society, and politics.
industrial revolutions were grounded in secure legal rights to make contracts
and own property, including intellectual property in new ideas. There
is a strong continuity, then, from the early days of textile manufacturing
to today's industrial robots building the latest generation of electronic
What differed in each case were the characteristic ways that production and distribution were organized—on the factory floor, in the firms, and in sales to consumers.