Period 5: Industrialization and Global Integration 1750-1900

Industrialization fundamentally changed how goods were produced Europe’s location on the Atlantic Ocean The gographical distribution of coal, iron and timber European demographic changes Urbanization Improved agricultural productivity Legal protection of private property An abundance of rivers and canals Access to foreign resources The accumulation of capital Machines (steam engines, combustion engine, etc) using fossil fuels (coal and oil) increased the amount of energy that was available.

More ways production was changed Factory system (more specialized labor) Moved from northwestern Europe to other parts of Europe and the US< Russia and Japan Second industrial revolution led to new methods in the production of steel, chemicals, electricity and precision machinery.

New patterns of trade Caused a decline of economically productive, agriculturally based economies Caused areas to create single natural resources Cotton, rubber, palm oil, sugar, wheat, meat, Guano, Metals and minerals Led to growth of cities Led to find new markets Textile production in India British and French try to open Chinese market

New patterns continued Global demand for gold, silver and diamonds = mining centers Copper in Mexico Gold and diamonds in South Africa

The Rise of Financial Institutions Adam Smith and John Stuart Mill Large-scale transnational businesses The United Fruit Company The HSBC Hong Kong and Shanghai Banking Corporation Financial instruments expanded Stock markets Insurance Gold standard Limited liability corporations

Transportation and Communication Railroads, Steamships, Telegraphs, Canals

Global Capitalism Resisted economic change and attempted to maintain preindustrial forms of economic production Rise of state-sponsored visions of industrialization Reforms in Meiji Japan, factories and railroads in Tsarist Russia, China’s Self-Strengthening Movement, Muhammad Ali’s development of a cotton textile industry in Egypt

Other reforms State pensions and public health care in Germany Expansion of suffrage in Britain Public education in many states

New societies New social classes (Middle class and industrial working class) Family dynamics, gender roles, demographics change – children and wives work, rise in jails, etc. Unsanitary conditions

Alternative visions of society Utopian socialism Marxism Anarchism