History: Most Important Turning Points
A. Science (Industrialization) is the turning points
In Environment Science, 1750 usually used as baseline of pre-industrial era world temparature. And, 1850 usually used as baseline, because it begin to use “Instrumental Temperature Record”. It also can be attributed to the first world fair of 1851 in London (which next 1889 in Paris, Eiffel Tower), England was most urbanised country in Europe, London is the biggest city at 1850.
B. Money is the turning points
“In the sixteenth century, England was a laggard economy and least urbanised countries in Europe. In Tudor times (1485-1603) when an attempt was made to create a new mining or industrial venture it frequently involved attracting expert advice and craftsmen from the continent. Financial expertise in London did not compare with that in Italy or the Low Countries” (Wrigley 2010, Energy and the English Industrial Revolution)
“Johann Gutenberg invented modern press in 1440 To finance his experiments he had borrowed 1,600 guilders from Johann Fust, a local banker, between 1450 and 1452” (Davies 2002, A History of Money from Ancient Times to the Present Day)
What Wrigley mention is correct. In 1602 Amsterdam Stock Exchange was established by VOC -the same that funded VOC business in Indonesia. It is also illustrated by Davies that even in 1400s European banking is more advance than British banking. However, the face of modern banking is start to shape in British due to industrial revolution.
C. No specific turning points, it all related
However, other opinion might argue that there is no such things as turning points in the history, its a phenomenon that can not be separated. Linked each other, just like “Chicken and Egg”.
For example, in the latest era. In 1986, the Big Bang Financial Markets due to effect of Margaret Thatcher Neoliberalism, it began the sudden deregulation of financial markets, that lead London as the capital of world financial market (Pwc 2014, London is #1, while Jakarta is #29 not bad in the report Cities of Opportunity)