I need help creating a thesis and an outline on Main principles of industrial revolution. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. According to North, “institutions change shapes the way societies evolve through time and hence is the key to understanding historical change”(1990:vii, 3). Poor economic performance is the result of inefficient institutional structures. The difference growth rates among nations are the result of different types of societal rules that nations have. The great progress made by England compared to Spain is the different institutional structure of the two countries. Spain adopted a conquest strategy while England used a commerce strategy. However, there are some who consider North’s emphasis on the importance of institutions too naive. According to Donald Snooks, what determines the industrial climate and economic growth is not the institutions but individuals who are capable of making decisions (292).