POLS 1201 Lecture Notes - Lecture 5: Industrial Revolution
20 Apr 2018
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Competition from early developers: england and the us. During war, there"s no competition because what is usually exports are going into the army instead: development strategies. Would be ok if it was high reward, but it"s a low reward. Volatility/instability of markets: if another country starts exporting the same thing, all of a sudden, there"s competition. Declining share of wealth: it"s difficult to get rich as quickly as the industrialized countries. Political model: model depends on repression, all the countries that adopted this model were unstable dictatorships with high inequality and lots of conflict. Figure out how to take things that you used to import, and replacing it with making it yourself. Easiest place to start: things you have the raw materials for. Ex: if you have cotton, start making clothes. In order to sustain this, you need to make sure that people: Will buy the things produced in your country instead of outside.
