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Some individuals became very wealthy, but some lived in horrible conditions.A class of prosperous industrialists, ship owners and merchants dominated, accumulating great wealth, but at the same time the working classes had to live with minimum comforts in overcrowded environments.
This creates even more jobs and demands for housing, thus establishing an urban area.
In the modern era, manufacturing facilities like factories are often replaced by technology-industry hubs.
Once an area is industrialized, the process of urbanization continues for a much longer period of time as the area goes through several phases of economic and social reform.
This concept is best illustrated by comparing a city such as Bangkok, located in a lesser-developed country, with an American city such as Los Angeles and a European city such as Berlin.
Scientific innovations and technological improvements contributed to the advancement of agriculture, industry, shipping and trade and to the expansion of the economy.
With the increase of capital and the need for credit, banking developed not only in London but also in the countryside.
Initially, this was just to meet the water and food needs of large populations.
However, since the Industrial Revolution, the trend of urbanization along waterways has continued because large bodies of water are needed to sustain industry.
Characteristics of industrialization include economic growth, more efficient division of labor, and the use of technological innovation to solve problems as opposed to dependency on conditions outside human control.
Industrialization is most commonly associated with the European Industrial Revolution of the late 18th and early 19th centuries.