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  • Essay / Capitalism and the Industrial Revolution - 1770

    The Industrial Revolution of the 18th and 19th centuries was arguably the most important turning point in history. He transformed the manufacturing of goods from craftsmanship to commercialism, exponentially increasing production and decreasing production costs, leading to prosperity and an unprecedented supply of goods to the world's markets. Industrialization and mass production were the fuel that lit the flame of already established capitalism, creating radical changes in wealth and its distribution. Within a few generations, the very fabric of society was virtually remade, as millions of people left rural farms and villages for work in the cities. This monumental change did not immediately sweep the entire globe, but remained concentrated in Western European countries and the United States, thus paving the way for the hierarchy of nations in the world, which changed only slightly Since. Although several factors have contributed to this state of affairs, the main reason for its existence can be compared to a crooked poker game with the West consisting of dealing a stacked deck of cards to the rest of the world. Industrialized countries resorted to restrictive trade laws, sometimes military force, and especially exploited regional conflicts between ethnic groups to create a hierarchy or class system among nations, the effects of which are still visible today . Westerners considered themselves superior both culturally and intellectually to the people of countries like Egypt, India, and the rest of Asia. So, rather than seeing themselves as exploiting foreign populations and cultures, they instead saw themselves as serving the greater good of humanity by raising...... middle of article...... the Lerstein's dependency theory, with its core, periphery and semi-peripheral nations and has, to a large extent, made the world what it is today. Western factories could produce products of equal quality to those produced locally at a lower price. For start-up industries to thrive, they must produce goods they can sell at a profit, something the flood of cheap imported goods from the West has made unlikely. Industrialization had a monumental impact on the world order and hierarchy of nations. Western Europe and the United States, which were the first to follow this path, became the undisputed economic leaders of the world. Mechanization allowed their economies to grow monumentally by devouring raw materials from ports around the world. They exploited internal conflicts in other countries and used restrictive trade regulations to maintain their superior status..