It also had a stable government, which allowed for the people to begin industrializing in the first place, harbors for trade, a very large population resulting in a very large workforce, and many water ways throughout the country to transport materials and products as well as to use for water power at mills. There are several reasons why the Industrial revolution started in the first place. One reason being that there was widespread resistance to disease in Europe as well as a reliable food supply, allowing for steady population growth, which in return created more demand for products, which in turn resulted in new ways of producing products more efficiently in response to demand. As a result of Industrialization, a new economic philosophy arose. Capitalism called for the lack of government intervention in the economy.
Industrialization greatly affected the balance of power in the world. Those nations that did industrialize became significantly more powerful. The first nation to industrialize was Great Britain. One of the major effects of industrialization was the need for raw materials, so it encouraged colonialism. The European powers attempted to dominate in far-flung places in order to make sure that they had the resources needed to drive their
Both economics and politics experienced radical changes during the Early Republic period in America. Remarkably subtle but undoubtedly significant was the development of a recognizable middle class during the Early Republic. This revolution can be attributed to what Wood refers to as a “consumer revolution of immense importance” and through the pervasive spread of commerce. A newfound appreciation for domestically internal trade and the recognition of the significance of this internal trade increased prosperity and gave more people enthusiasm for business. The quantity of those involved in buying and selling increased exponentially and in response, the development of modern day concepts such as businessmen and entrepreneurs arose.
Industrial Giant American manufacturing flourished for many reasons, for one new natural resources were discovered and exploited steadily, thereby increasing opportunities. These opportunities, in turn, attracted the brightest and most energetic and expanding population. The growth of the country added constantly to the size of the national market, and protective tariffs shielded that market from foreign competition. The foreign capitals entered the market freely, in part because tariffs kept out so many foreign goods. The first big business was railroads in 1886 by Charles Francis Adams, Jr.
Although the problem of smuggling had to be overcome, exportation in Britain was booming. Britain was in the midst of a mass industrial revolution and was ‘rich’ in the right resources such as cotton, other textile goods and coal. This was a real boost for Britain’s economy and was a factor completely
Globalisation has brought rapid economic growth and has seen India become more important player on the world political stage. It has also brought rising prosperity to some – notably India’s new middle class. Meera Nanda’s 2008 book, god and globalisation, examines the role of Hinduism, the religion of 85% of the population, in legitimating both the rise of a new Hindu ‘ultra-nationalism’ and the prosperity of the Indian middle class. Globalisation has created a huge and prosperous, scientifically educated, urban middle class in India, working in IT, pharmaceuticals and biotechnology sectors closely tied into the global economy. As a result of this these are precisely the people whom secularisation theory predicts will be the first to abandon religion in favour of a secular worldview.
Electricity, provided by new hydroelectric power stations and coal-fired steam-generating plants (making first head in 1910), was also an enormous factor in the Western societies’ advancement. Cities were lit up, telephones were created, and transportation methods were advancing at lightening speed. Along with all the technological advances impacting efficiency, they effected the prices of goods, now easier to transport and produce, and likewise the governing of markets; cartels began to make face. A world economy was emerging thanks to the growth of marine transport and railways. Consequentially, all of these changes took a toll on the societies expression.
Population increased as agricultural productivity did. The more food surplus they had, enabled them to support a larger population than ever before. The Han’s agriculture increased partly because of the iron industry for tougher implements, and the roman began to specialize production, and concentrate on latifundia for export. Colonization’s of neighboring nations also brought in large amounts of citizens. The Han Empire invaded northern Vietnam, Korea, and Xiongnu and subjected them to Han rule.
This concept is best exemplified by the causes and effects of Henry Ford’s Model T. Undoubtedly, The Model T was a great advancement in Technology, but it also marked a major turning point in the advancement of the middle class in the United States. The Model T improved the lives of rural families, urban middle class families and industrial worker and also created a more defined
Throughout the centuries, many technologies have been invented that have brought industries and manufactures to the world which creates jobs for everyone. As the world changes, more and more companies are producing a variety of goods and occupations to fulfill the needs for people. The economies of the different countries have grown rapidly especially in the developed countries; however, many developed countries, such as the United States of America, are migrating their companies to other developing countries in order to reduce the labor cost in the financial market. The outsourcing in other countries has giving many benefits to the U.S. economy in the short run as well as in the long run. Should America continue outsourcing because of the