History 2404E Lecture Notes - Lecture 10: Foot Binding, Thomas Piketty
20 Nov 2018
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Lecture 10: social and political consequences of the industrial revolution. Industrial revolution: began in the 1840s/50s in russia. It had the same effects as in britain, but at a later time period. Now all you needed to show was that you were injured. It also provided an incentive for employers to care more about safety, since they have to pay part of the bill: the formation of trade unions. Individual workers didn"t have the power to negotiate, so the natural inclination was to organize. In britain a law of 1871 made it legal to form trade unions (which had existed in a kind of legal shadow since the 1920s) In germany average wages more than doubled between 1870 and 1914. Marx and engels failed to predict this: one reason was that in britain people could emigrate, which reduced the supply of workers. In germany, the economic market was dominated by cartels in the 19th century.
