Unit 4_Micro-finance and Social Entrepreneurship.pdf

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International Affairs
INTL 1101
Ioannis Livanis

INTL1101GlobalizationInternational Affairs Unit 4 Microfinance and Social Entrepreneurship NotesIndustrial RevolutionOccurred in Europe because of colonizationOccurred in BritainEnclosure movement wealthy farmers bought land from small farmers economies of scale poor farmers move to cities for workagricultural reform super farmsColonial expansion income from IndiaNapoleonic Wars Britain emerges without major economic problems and still has a commercial fleetMild weather conditions of the northwest of England provided ideal conditions for the spinning of cotton providing a natural starting point for the birth of the textiles industry technological breakthrough Spinning Jenny etcProtestant work ethic emphasis on progress technology and hard work favored rational pursuit of economic gain and worldly activities which had been given positive spiritual and moral meaning protestant communities are better at capitalism than catholic ones because of religious morals ie Catholics are supposed to spread the wealth and not keep it for themselvescapitalism requires capital individualistic empowerment talks about religion but created a cultural developmentDoesnt take into account blind luckNeeds of the PoorLifecycle needs education homebuilding old agePersonal emergencies sickness injury unemployment
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