With the development of mechanized industry in the late 18th century, a productivity revolution was unleashed that would soon spread from Britain to continental Europe, North America, and Japan. By the early 21st century, three successive industrial revolutions had profoundly transformed these societies as well as the rapidly developing economies of East and South Asia. This lecture/discussion course analyzes the historical forces driving this process. It begins by studying the transformation of Europe's overwhelmingly rural and agricultural economy into a predominantly urban and industrial one, looking closely at entrepreneurs, technology, and changing trading patterns during various phases of this process. Focus will be on Britain, Germany, the United States, and Japan, considering not only industrial development but also its broader implications, including colonial empire, great power rivalry, protectionism, economic depressions, and warfare, to highlight the complex relationship between economic and political power. The course will also analyze how industrial capitalism survived the disasters of the 20th century to drive a process of regional and global economic integration in the late 20th century. It will conclude by considering the opportunities and challenges posed to the mature industrial economies by the newly emerging industrial powers China and India.