Outrageously Funny Word Dictionary :: Preindustry

👉 Pre-industry is a concept in economics that refers to the period before the establishment of an industry or economic system, which typically involves the development and growth of small-scale industries. Pre-industry economies are characterized by decentralized production systems with limited government intervention, where businesses operate independently without external financial support. The term "preindustry" was introduced by economist Robert Shiller in his book "The Theory of Economic Development," and it has since been used to describe a wide range of economic conditions and development processes

preindustry