Class Notes (1,100,000)
CA (620,000)
UTSC (30,000)
Geography (700)
GGRA02H3 (100)
Lecture

lecture 4


Department
Geography
Course Code
GGRA02H3
Professor
Michael Bunce

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- surplus value of labour
- forced migration
- sugar trade - spatial interaction (goods and materials), change in character in
places
Empires
- colonization, exploitation
Æ
capital for industrial system
- world
Æ
European States (1599-1950)
- industrialism
Britain -- industry + empire (Hobsbawm)
Æ
great wealth generated from this empire
- changing nature of places - polluted, congested
18th - 19th century
Æ
the age of capital, the first industrial revolution
Æ
exchange (market) economy
Æ
new labour markets
Æ
massive capital investment in factories
Æ
new sources of energy - steam power
Æ
global sourcing of raw materials and labour (inputs of energy)
Æ
new modes of transportation (steam ships, steam railways)
Æ
spread of industrialization and geographic change
- urbanization - new centres of commerce and industry
- money, economy, accumulation of great amounts of money
Social and environmental consequences of age of industrialism
- pollution (air, water, global warming)
- class system -- proletariat
- depletion of resources (deforestation, fossil fuels)
The second industrial revolution
- first half of 20th century
- mass production: Fordism (assembly line, special tasks) and Taylorism (carefully
calculate how long it took for a worker to perform a particular task -- minimize it)
Æ
maximizing output and efficiency of production
- internal combustion engine: the era of oil
- first multinational corporations
--- disruptions of WWI (imperialist countries - territoriality), Communism, the Great
Depression changed political economic order
--- WWII: seedbed of modern global capitalism
Advanced capitalism: the age of globalization
- second half of 20th century
Æ
21st
- Bretton Woods agreement (1945) - Western powers reorganized global financial
system, help poorer countries developing (IMF, World Bank) -- first organized global
order, government intervention
- American economic dominance
- Keynes -- government should intervene/regulate economies
- Cold War and the H-Bomb
Æ
fueled their industrial system through military
- competing ideologies
- global production chains
Æ
By the 1990s almost entire world had adopted fundamental elements of a
market economy (Sachs, p. 98)
www.notesolution.com
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