HIS109Y1 Lecture Notes - Cotton Gin, Physiocracy, Textile Industry

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Acceleration of economic growth -- eco & social consequences. Substituion of machines for human effort --> productivity increased (improvements to income of workers) Changed face of europe --> impacted lives of men, women, children (regardless of class, etc. ) Capitalism -- first in italy, low countries and across eueope 16th-17th c. (mercantilism) Britain and france = restrictions on trade, monopolies --> gold and silver coming in rather than out. Capitalism driven by market -- consumer consiption is important --> lead to rise in comsument consumption (middle class wanted what upper class had - but cheaper) Enlighmtnet -- private protety was inalienable right. Restitctions on trade placed by absolutist gov"t -- unnatural. Greater good for greater # of people. Physiocrats = fr economic thinkers, ideas ppular in 1750s-60s. Didnt believe in influence on power of manufacturing --> more emphasis on land (france = mostly land) Freedom for domestic & int"l trade -- to strengthen frace"s scomonmy.

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