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Globalization I: European Imperialisms. Commodities, Wage Labor, and a New Global Economy 19th century imperialism created a new global economy What was.

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Presentation on theme: "Globalization I: European Imperialisms. Commodities, Wage Labor, and a New Global Economy 19th century imperialism created a new global economy What was."— Presentation transcript:

1 Globalization I: European Imperialisms

2 Commodities, Wage Labor, and a New Global Economy 19th century imperialism created a new global economy What was new? Everything… --Where and how people lived. --What people produced and traded. --How goods were moved. --What people ate and wore.

3 “New Mobility” -- CAPITAL International financial system (London) The Pound Sterling The Gold Standard. --1717-1931 in Britain. --By late 1870s nearly the whole world on the gold standard. --U.S.$ convertibility to gold suspended 1971. Stable currencies = mobility + global investment

4 The role of commodity production in the new global economy Basic materials of industrial society Food (e.g., meat, wheat, rice, bananas) Stimulants (e.g., coffee, tea, sugar, chocolate, opium) Raw materials (e.g., oil, rubber, copper, tin, palm oil) Precious metals and stones (e.g., gold, silver, diamonds) Worldwide division of labor and regional comparative advantages ( Adam Smith and David Ricardo)?

5 Characteristics and consequences of commodity production Disruption of old land use patterns and food production (cash economy, wage labor, taxes, company stores) Migration of workers to centers of production (plantations, mines, construction sites) Regional specialization in commodities (cash crop production and plantations)

6 Cotton American South India China Africa Tobacco American South Southern Africa Argentina/Brazil North Carolina Plantations

7 Tea – Assam, China, Ceylon Pineapples --Hawai’i, Brazil, Philippines Bananas--Caribbean, Brazil, East Africa, India Coffee--Central America, East Africa, Brazil Cocoa--Ghana-- Nigeria

8 “New Mobility” --LABOR Laborers:From: SlavesAfrica SettlersEurope Indentured workerse.g., China, India Contract workerse.g., Ireland

9 SHIPPING Suez Canal, 1869 Panama Canal, 1914 RAILROADS Across continents (North America, Asia); from inland resources to coasts (Africa, India) Transport

10 New geographies of production and trade - Plantation and settler economies - Regionally concentrated monocultures - Large scale labor migrations - Global networks of commodity transport

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