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Lecture 9

Hist 106 Lecture 9.docx

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Simon Fraser University
HIST 106
Paul Garfinkel

Lecture 9: Second Wave of Industrialization (reading: chapter 23, pp. 690-694) NOTE: Some lecture content from this past week relates to the remaining parts of Chapter 23, pp. 694-714; Week 6 lectures will also touch upon subject matter covered in these pages. Lecture questions: [1] Why did the second wave of industrialization come from economic crisis? [2] Why was there a “second wave” of industrialization? [3] Why were workers so profoundly affected by this so-called second wave? • In 1850 there is increasing prosperity (more of everything) • The rest of the continent is catching up to Britain • Other countries are hiring British professionals to get industries started • Governments getting very involved (state protectionism, nationalizing) The second wave again changes the Balance of power in Europe and makes Europe a global trading power [1] Why did the second wave of industrialization come from economic crisis? • British industry started based on agriculture • The second wave started during an economic depression Great Depression (1873-95) • Agriculture prices and going down because of world market • Competition forms between US/Australia/Argentina because of improved shipping − Perishable food can be shipped − Suez Canal built • Slumps in the business cycles − The way countries were affected was based on what their major exports were − Steel and heavy industry was able to withstand slumps. • Germany is focused on heavy industry (steel, coal, iron, chemicals) • Britain has coal and can sell it to industrializing nations • Europe become polarized with wealth in the North West and poverty in the South East. The resolution for this depression was... 1. Tariffs (protectionism) − Protected jobs/markets − Took them off of the world market − Only Denmark, Britain and Netherlands upheld free trade 2. Trade and investment − Had to get some things from other countries − This demand meant investment in less developed countries (sometimes going out of the contintent) 3. New Markets − Important for good from abroad − Europe selling surplus toAsia,Africa and SouthAmerica This ends up with a balance of power shift. Germany and Russia are exporting more and Britain and France see a decline. [2] Why was there a “second wave” of industrialization? The second wave of industrialization was brought on by a turn to heavy industry and rising competition for competition and capital. 1 wave: textiles/cotton/coal nd 2 wave: steel/engineering/chemicals Steel: ship building, machine building Engineering: arms, bicycles, type writers, cars Chemicals: dye, fibers You see petroleum and electricity as new sources of power
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