Stephen Davies is a program officer at the Institute for Humane Studies and the education director at the Institute for Economic Affairs in London.

What was the industrial revolution? According to Dr. Stephen Davies, it was an extraordinarily innovative period in history that generated the highest living standards the world had ever seen. For instance, over the course of the 19th century, average per capita income in the United Kingdom rose by a factor of six. To put this in perspective, prior to the industrial revolution, it typically took 300–400 years for the standard of living to rise by a factor of 0.5. Why did this explosion of human flourishing take place? Dr. Stephen Davies claims that people began to embrace an engineering culture along with a respect for trade and business. It was this synergy of trade and engineering that led to a revolution in production and business organization.

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