“Industrialization in Contemporary World”

<< Urbanization

Ushered much of the world into the modern era,

revamping patterns of human settlement, labor and family life.

<< Economic Prosperity

Changed the world by transforming business,

economics and society. These shifts had major effects on the
world and continue to shape it today.

“The Hidden Gems of Industrialization”

Industrialization has come to be regarded as synonymous

with economic growth and development. No country desirous of
rapid economic progress can afford to neglect industrialization.

Industrialization can help the progress of agriculture,

trade, transport and all other economic activities.

Industrialization is the key to economic

development. All advanced countries of the world are
industrialized. It will make the best possible use of our human
and physical resource. All types of goods for all types of people
should be produced in large, medium, cottage and small scale
industries.
“Relevance of Industrialization”m, cottage and
small scale industries.
<< Philippines
This is a sovereign island country in Southeast
Asia. It consists of about 7,641 islands that are categorized
under three main divisions from north to south: Luzon,
Visayas and Mindanao.

In the Philippines, interest of economy, rapid industrialization

is important for generating employment opportunities,
utilization of all types of resources, promotion of education,
training and research, improving the productivity of labor and
balanced regional development.

“Disadvantages of Industrialization”

Although new methods and machinery simplified work

and increased output, industrialization introduced new
problems as well. Some of the drawbacks included air and
water pollution and soil contamination that resulted in a
significant deterioration of quality of life and life
expectancy.

Industrialization also exacerbated the separation of

labor and capital. Those who owned the means of
production became disproportionately rich, resulting in
wider income inequality. Industrialization impacted society
in other ways. Workers were forced leave their families and
migrate to urban areas in search of jobs. They worked long
hours, were poorly nourished and lived in overcrowded
conditions, which led to disease and stress.
 Industrialization typically leads to the migration of
workers to cities, automation and repetitive tasks. Due to
these factors, factory workers tend to lose their
individuality, have limited job satisfaction and feel
alienated. There can also be health issues brought on by
dangerous working conditions or factors inherent to the
working conditions, such as noise and dirt.

One negative byproduct of industrialization is

environmental pollution that can adversely impact human
health. When companies do not pay tor the environmental
damage they cause, or when these harms are not captured in
pricing, this is considered a negative externality. The cost
burden is placed on human society in the form of
deforestation, extinction of species, widespread pollution,
excessive waste and other forms of environmental
degradation.

Rapid urbanization brought on by industrialization

typically leads to the general deterioration of workers'
quality of life and many other problems for society, such
as crime, stress and psychological disorders. Long working
hours usually lead to poor nutrition and consumption of
quick and low-quality foods, resulting in increased
incidences of diseases such as diabetes, heart attacks and
stroke.

“Advantages of Industrialization”
Industrialization is the development of industries in
a country or region on a broad scale. This development
has many advantages.

The main advantage comes from the fact that

industrialization gives us more goods that can be bought at
affordable prices. When an economy industrializes, things
are made more rapidly and in higher quantity. This means
prices can go down and a lot of other goods can be made. A
myriad of economic benefits stems from this particular
development. Another advantage of industrialization is
conservation of time.

Not surprisingly, the business world goes by the

famous saying of Benjamin Franklin “Time is money”
because time is limited. No matter how we slice it, there
are only 24 hours in a day. Unlike agrarian labor, factory
work demands punctuality. People have to learn to live by
the clock. Punctuality and productivity are principal goals.

When industrial companies in an industrial estate like

Science Park of the Philippines learn to take control of
their time, they improve their ability to focus, and with this
increased focus comes enhanced efficiency. Generally, it is
a very desirable thing in business because good time
management supposedly improves the bottom line.

Finally, industrialization creates new job

opportunities, resulting to reduction of poverty to a great
extent. It generates employment opportunities by developing
industries for the people. At the same time, the usual areas
that you can count on to increase business often are
reduced in a tough economic environment. Consumers buy
fewer goods.

Businesses hire fewer employees who need insurance.

Large insurance companies are relatively stable, but
they can rely on downsizing to remain viable. For the
most part, industrialization guarantees insurance for
stability in people’s careers. After all, businesses and
individuals alike need some sort of insurance no
matter what state the economy is in.