SOCI 307 Chapter Notes - Chapter 6: Industrial Revolution, Joseph Schumpeter, Industrial Espionage
5 Feb 2015
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Chapter 6- the long race to the bottom. In this chapter the author describes the race to the bottom" where each country lowers wages, working conditions to become more competitive and eventually to become the industry leader. From: britain -> new england -> southern piedmont ->japan ->asian tigers->china! The gaping dividing between the poor sweatshop workers of the east and the rich consumers of the west is a relatively recent phenomenon. Europe became more dominant in the 1700s onwards. (potentially increased with the industrial revolution) Chinese were self-sufficient and better vertical integration. (the family engaged in all phases of production, wives and children involved. England: problem of bottlenecks; by 1832 the price of cotton yarn had fallen to 1/20th of the price it had sold in 1780s. Beginning of the race to the bottom. Because of an increase in urbanization there was a higher demand.
