HIST 103 Lecture Notes - Lecture 3: Wage Labour, Mercantilism, Mahatma Gandhi
Document Summary
Hist 103 world history since 1900 lecture 3: networks of money and power the. British empire, port cities and global capitalism 1890 1914. Us succeeded britain as the dominant power. Most dominant in the international scope between 1850 1873. By the late 19th century, british power was in decline. Decline was largely due to the competition from other countries (which are experiencing rapid economic growth: germany, us, russia. The sun never sets on the british empire. Britain was the 1st in shipping, naval, and economic power: major force in spreading capitalism. 1850 prewar: led intense globalization, 50% of british capital is oversea. Britain"s hegemonic position was secured by empire. Britain made investments internationally, and america invested domestically. Britain was the pioneer in free trade: free trade is the early phase of global political economy, mercantilism preceded that. I gain, you lose a: reflects a careful and protected market. Britain became the most efficient producer during the revolution.
