Industrialization is not only an engine for employment, wealth and technical skill, but an engine for the development of technology. Modern conveniences, medical advances, changes in lifestyle, education, popular living locations, transportation development, machination - all of these are examples of how industrialization has contributed to widespread and large scale changes to how people live, and how well they live.
It is also probably the single greatest factor for the enlargement of and migration to the cities. Take the explosion in the US population in the North after 1865, for example, as a direct result of rapid industrial development.
The most evident advantage of industrialization would be the development of wealth or capital. Industrialization generated a great deal of wealth for many people. Workers were able to find a source of work that could expand to employ more people. Factory owners experienced more of a wealth bounce from industrialization. I would also suggest that another advantage of industrialization was the movement to a more urbanized setting. Prior to industrialization, individuals lived apart from one another and in distant settings. With most of the factories being located in the cities, individuals were able to move to these areas and become closer to one another with greater physical examples of community being formed. Finally, I would say that the development of roads, canals, and changes in how information was relayed as well as the improvements in transportation ended up being a result of industrialization because of the desire to move goods to farther reaches of the nation. Underscoring all of these is the fact that in order for any nation to emerge into a concept of modernization and contemporary settings of power, industrialization has to be evident. Historically this has been true and in the end, many distinct advantages have resulted and do result from industrialization.
To me, the main advantage of industrialization is not any of the things mentioned in the first answer. I think that the main advantage comes from the fact that industrialization gives us many more goods that can be bought at affordable prices.
When the economy industrializes, things get to be made more quickly and in greater quantity. This means that the price of these things can go down and that many more things can be made. This allows us to buy more things than we could before. This is why, for example, we can afford many more shirts that are mass produced than we could if tailors were making each one by hand.
A variety of benefits flow from that particular advantage. Let us look at the two most important of these.
The first advantage is that more goods can be produced by an industrialized economy. The machines help people do their work more quickly. This means that more of everything from clothes to corn can be produced. This improves the overall standard of living in an economy.
The second advantage is that many workers are freed up to do things that will further add to the economy. Machines decrease the need for low-skilled labor. This means that more of the population is free to get more education and training and to take jobs that add more value to the economy.
Thus, industrialization makes an economy run more efficiently, allowing more goods to be produced and more labor freed up to improve the economy still further.
Certainly the biggest advantage of industrialization is that it eases the daily responsibilities and tasks of people by placing most of the bulk of tasks on technology and other resources. Industrialization also opens the door to lots of employment opportunities which, in turn, also open the door to establishing businesses to satisfy the needs of those employed by the industry. In all, everyone is equally satisfied and well-compensated with industrialization.
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The main and perhaps the only advantage of industrialization is that it increases productivity, which enable production of a large variety of products and service economically. This in turn leads for improved standards of living for the entire society or the economy.
The increased prosperity, and standard of living of people is evident in various forms such as better and more food, clothing and shelter, longer life expectancy, freedom from drudgery of physical work, more and better means of entertainment and other leisure activities, better facilities for development of intellectual capabilities of individuals and for satisfying their intellectual inquisitiveness, and greater interaction among people through better means of communication and travel. The list is almost never ending.