HI125 Lecture Notes - Lecture 10: Financial Engineering, Industrial Revolution, Leading Edge
Document Summary
Corps are becoming freely available no longer need to beg like before. Mass production and consumption (national brands) tremendous productivity branding. Through important long distance networks that are seaborne railroads change all of this. Defined by large capitalization, spatial breadth, administrative sophistication, mass production, and separation of ownership and management. Made possible by transportation and communication networks, and mass production technologies. Develops its own logic of concentration it makes sense to get bigger and bigger to cut costs and receive a national audience. Railroads democratize" transportation and moves the new goods. Wooden tracks used in british mines and as early as 1767 iron is substituted 1805 first general purpose railway (horse drawn) Economic transformation: lowers costs of transportation and increases speed of movement. Social change: easier movement of people and growth of towns (idea of commuter towns) Business no longer local: national markets and networks time and space: nation building. Data monitoring and reports: western union (1846 1866)
