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Manufacturing takes turns under all types of economic systems. In a free market economy, manufacturing is usually directed toward the mass production of products for sale to consumers at a profit. In a collectivist economy, manufacturing is more frequently directed by the state to supply a centrally planned economy. In mixed market economies, manufacturing occurs under some degree of government regulation.

Modern manufacturing includes all intermediate processes required for the production and integration of a product's components. Some industries, such as semiconductor and steel manufacturers use the term fabrication instead. The manufacturing sector is closely connected with engineering and industrial design. Examples of major manufacturers in North America include General Motors Corporation, General Electric, and Pfizer. Examples in Europe include Volkswagen Group, Siemens, and Michelin. Examples in Asia include Toyota, Samsung, and Bridgestone. The Industrial Revolution was the transition to new manufacturing processes that occurred in the period from about 1760 to some time between 1820 and 1840, according to various historians. This transition included going from hand production methods to machines, new chemical manufacturing and iron production processes, improved efficiency of water power, the increasing use of steam power and development of machine tools. The transition also included the change from wood and other bio-fuels to coal. Some of these innovations were mechanical while others were based on applications of science and experimentation. The Industrial revo

ution began in Britain and within a few decades spread to Western Europe and the United States. The Industrial Revolution marks a major turning point in history; almost every aspect of daily life was influenced in some way. Most notably, average income and population began to exhibit unprecedented sustained growth. In the words of Nobel Prize winner Robert E. Lucas, Jr., "For the first time in history, the living standards of the masses of ordinary people have begun to undergo sustained growth ... Nothing remotely like this economic behavior has happened before". The earliest use of the term "Industrial Revolution" seems to be a letter of 6 July 1799 by French envoy Louis-Guillaume Otto, announcing that France had entered the race to industrialise. In his 1976 book Keywords: A Vocabulary of Culture and Society, Raymond Williams states in the entry for "Industry": "The idea of a new social order based on major industrial change was clear in Southey and Owen, between 1811 and 1818, and was implicit as early as Blake in the early 1790s and Wordsworth at the turn of the [19th] century." The term Industrial Revolution applied to technological change was becoming more common by the late 1830s, as in Jerome-Adolphe Blanqui description in 1837 of la revolution industrielle. Friedrich Engels in The Condition of the Working Class in England in 1844 spoke of "an industrial revolution, a revolution which at the same time changed the whole of civil society". Credit for popularising the term may be given to Arnold Toynbee, whose lectures given in 1881 gave a detailed account of it.