HIS102Y1 Lecture Notes - Lecture 13: Profit Motive, Wage Labour, Mercantilism
Document Summary
1780 1860: engage in blockage in wars try to starve and affect their trade, develop because no long competing. Britain and the industrial revolution: steam, steam engine, cotton, transportation. Imported cotton textiles from india into europe (cheap, lightweight, good quality, profitable: competed woollen industry developed its own domestic cotton industries using raw cotton from india, calico, ready markets in americas big importers of british cotton. Innovations in technology spinning jenny, flying shuttle, crompton"s spinning mule. Steam: burn coal to make steam (also great sources of water) 50 000 hours to 2 000 hours to 135 hours to produce same amount of cotton cloth. The transportation revolution: canals that are strategically placed that accelerates trade, erie canal, suez canal (reduce distance from bombay to london, steam + iron and steel industry makes fortified ships and railroads. 1830 first line (copied in europe and america: significantly decreased time to ship from one place to another, caught on in popular culture.
