We were all hunter-gatherers thousands of years ago. Then humans discovered farming, bronze, and iron. It gave rise to Bronze Age and Iron age.
Then came the First Industrial Revolution. Coal and Iron were in use before. But it was only during the First Industrial Revolution that they were put to use at scale. Almost all aspects of life were transformed: agriculture, clothes, transport, work etc.
Industrial revolution led to large scale technological, socioeconomic, and cultural changes.
Second Industrial Revolution was primarily driven by use of electricity and electric goods (industrial and home appliances) at scale.
Third Industrial Revolution was driven by Information Technology: computers, internet, smartphones, apps, and cloud computing at scale.
We are now in the Fourth Industrial Revolution. This is driven by Artificial Intelligence (AI), drones, solar, battery technology for large scale storage, robotics, micro-satellites (e.g. Starlink, satellite communication capabilities in consumer smartphones).
The Fifth Industrial Revolution will be driven by space travel and space colonization, hypersonic travel, quantum computing, nuclear fusion, carbon fiber manufacturing, and 3D printing.
With each new industrial revolution, money, power, and status increases exponentially.
It is no coincidence that only USA – and no one else - is master and innovator of third, fourth, and fifth industrial revolution at scale. All other nations still think and act in terms of old way of doing things. At best, they can copy well.
The lesson here is that people, corporations, organizations, and nations need to participate in new industrial revolutions, or risk becoming irrelevant, stay in middle income trap, and lose wars while the world surges ahead.