The Industrial Revolution, which began in Great Britain, ushered in a new era of economic prosperity for many people. Through higher employment rates in factories, the income of the average citizen rose. This income was then used to purchase goods, which required more factory workers, which further increased income.
Generally speaking, this recession was far more devastating than other relatively recent economic downturns in that it lasted longer than expected and many more homes and jobs were lost than expected. Thus the term "Great Recession".
