1. Period 5: Industrialization and Global Integration

2. 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.

3. 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.

4. 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

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

6. 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

7. Transportation and Communication
Railroads, Steamships, Telegraphs, Canals

8. 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

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

10. 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

11. Alternative visions of society
Utopian socialism
Marxism
Anarchism