HIST 106 Lecture Notes - Lecture 9: Business Cycle, Price Fixing, Joint-Stock Company

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Lecture 9: second wave of industrialization (reading: chapter 23, pp. Note: some lecture content from this past week relates to the remaining parts of chapter 23, pp. 694-714; week 6 lectures will also touch upon subject matter covered in these pages. In 1850 there is increasing prosperity (more of everything: the rest of the continent is catching up to britain, other countries are hiring british professionals to get industries started, governments getting very involved (state protectionism, nationalizing) The second wave again changes the balance of power in europe and makes europe a global trading power. [1] why did the second wave of industrialization come from economic crisis: british industry started based on agriculture, the second wave started during an economic depression. Great depression (1873-95: agriculture prices and going down because of world market, competition forms between us/australia/argentina because of improved shipping. Suez canal built: slumps in the business cycles.

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