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HIST261 (46)

February 7th 2014.docx

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Eric Strikwerda

th February 7 2014 Canada Inc.: the rise of the modern corporation and the second Industrial revolution An Evolving Economy CND lives were drastically changed by the acceleration the second indur5tial revolution in CND. The second industrial revolution (hereafter 2 IR) was based on the new technologies such as: the internal combustion engine, the development of resources, electrical power and new chemical processes. This started the continuous move away from primary industries to secondary industries and increased growth in the tertiary sector (service industries) The 2 IR Technological innovations increased product output without expanding the labour force. Electricity also had a large factor in this and will be further discussed in a later class. A new emphasis was placed on ‘consumer-durable’ goods, and there was a construction boom, as well as the rise of suburban growth. Expanded credit, banking and insurance opportunities allows allowed companies to grow. A good example of how the economic sectors evolved is the AUTOMOBILE. • Ontario had a corner on most of the market in manufacturing. • The war had proved the usefulness of the automobile. • Cars could deliver goods directly to a store, without the hassle of using trains. • Every city then needed, car dealerships, gas stations, repair shops, auto insurance brokers, tire shops, etc. • Demand for better roads led to construction of hard surfaced highways. • Taxis • Restaurants and cabins along busy routes. • To0urism boomed – increased number of jobs. • The increase in HP meant more accidents, and death, and a larger police force. Secondary industries also boom car appliances, furniture, radios, retail stores all of which contributed to the rise of a consumer society. The rise of the department store also contributed to this (ex: Eaton’s) and represented 20% of the CND retail market. It also promoted mass taste and uniformity. New Technologies New technologies allowed for the increase in productivity and volume of goods, old machines made new machines, and mechanization lead to mass production. Taylorism: Scientific management, also called Taylorism, was a theory of management that analyzed and synthesized workflows. Its main objective was improving economic efficiency, especially labor productivity. It was one of the earliest attempts to apply science to the engineering of processes and to management. ( Fordism: 1.The standardization of the product (nothing hand-made: everything is made through machines, molds and not by skilled craftsmanship) 2.The use of special-purpose tools and/or equipment designed to make assembly lines
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