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by Archaeology Newsroom

The Industrial Revolution in Greece

The study of the phenomenon in Greece faces the basic obstacle that the industrial revolution in the form it took in Europe never existed here. We never had a continuous and sufficient process of economic growth based on a successive social transformation and on a consistent technological revolution in the industrial sector. The industrialization of Greek economy took place in three independent phases none of which released an impetus that would make possible the channeling of the entire economy towards a consistent and self-feeding growth. The first phase of acceleration and generalization of the industrial phenomenon covers the decade of 1870. The conditions for the appearance of the second phase of industrialization reach maturity only after the Balkan wars, therefore this phase is placed in the interval between the two World Wars and presents two temporary crises in the 1920s and 1930s. Then for the first time it is realized that industry can not only survive in Greece but can also play an important role in the growth of Greek economy, a fact that was until then questioned. Finally, the third phase of acceleration of the Greek industrialization commences in 1962-63 and lasts until 1973.