Wednesday, March 16, 2016

Chapter 18: pg 879-912

Due to the Industrial Revolution, there was now an enormous amount of productivity which created the need for extensive raw materials. Wheat from American Midwest and southern Russia, meat from Argentina, bananas from Central America, rubber from Brazil, cocoa and palm oil from West Africa, and gold and diamonds from South Africa. In addition to all these new needs, Europe still needed to sell its own goods. It was very common that in industrial capitalism countries would produce more goods than its own people could by. Additionally, most Europeans invested their money abroad.

Europeans had many colonial takeovers, this way was cheaper and less likely to lead to war. However, this did not last long. Soon enough Europeans made new empires everywhere, along with the force of a powerful military threat. In the end of the fights, they prevailed most everywhere.

The culture in the empires once the colonial rule was in place changed the way of working. It changed taxes, enterprises, labor, and transportations. It also increased the demand in the supply of goods. Because of this the type of work changed. Instead of subsistence farming, they now tried to sell what the produced for cash income. The cash was used to pay taxes and buy machines. The Artisans in returned suffered because the machines prices had to be lower.

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