Second Industrial Revolution
Probably the first period in history in which economic progress was observable after one generation was during the British Agricultural Revolution in the 18th century. However, technological and economic progress did not proceed at a significant rate until the English Industrial Revolution in the late 18th century, and even then productivity grew about 0.5% annually. High productivity growth began during the late 19th century in what is sometimes call the Second Industrial Revolution. Most major innovations of the Second Industrial Revolution were based on the modern scientific understanding of chemistry, electromagnetic theory and thermodynamics and other principles known to profession of engineering.