Short History of GLOBAL MARKET INTEGRATION in 20th century - BSIT - Block K
Summary
TLDRThis video explores the history of global market integration in the 20th century, starting from the Agricultural Revolution in the Fertile Crescent to the Industrial Revolution in Europe and America. It discusses how technological advancements like the steam engine and improved transport networks led to a more interconnected world economy. The script also highlights the economic and social impacts of these changes, including increased productivity, urbanization, and widening economic disparities.
Takeaways
- 🌐 Global market integration in the 20th century refers to the process of combining separate national economies into a larger economic region.
- 📈 Integration occurs when goods and services prices follow similar patterns across different markets over a long period.
- 🏭 The Industrial Revolution, starting in the 1800s, was a major driver of global market integration, transforming agrarian and handicraft economies into industrial and urbanized ones.
- 🌾 The Agricultural Revolution, or Neolithic Revolution, was a precursor to the Industrial Revolution, allowing for the domestication of plants and animals, leading to surpluses and population growth.
- 🚂 Technological advancements like the steam engine, railroads, and marine steam engines were critical to the creation of a global transport network.
- 🌍 The reduction in transport costs due to technological advancements allowed goods to be traded across the world more cheaply than local production.
- 🏙️ The Industrial Revolution led to the rise of industrial towns and cities, with Britain being the birthplace and early leader in industrialization.
- 🏛️ The Fertile Crescent is considered the cradle of agriculture, where early agricultural societies formed due to its ideal farming conditions.
- 🔩 The iron and steel industry was key to constructing the machinery and infrastructure needed for industrial progress.
- 🌉 Improved infrastructure like roads, canals, and railways facilitated the movement of goods and contributed to the growth of industrial towns.
- 🌉 The shift from cottage industry to factory production increased productivity and led to mass production, but also resulted in economic inequality and poor working conditions.
Q & A
What is the definition of global market integration?
-Global market integration refers to the process where separate national economies become more interconnected, forming a larger economic region. It involves the exchange of goods, services, and capital across borders, leading to a more unified and interdependent global economy.
How does market integration manifest in the context of goods and services?
-Market integration occurs when prices of goods and services in different locations follow similar patterns over a long period of time. If groups of goods move proportionally to each other and their price relationships are clear among different markets, it indicates that the markets are integrated.
What is the significance of the Agricultural Revolution in the context of global market integration?
-The Agricultural Revolution was a turning point in the history of the world, leading to the first major economic change. It allowed societies to build surpluses, which in turn led to the development of permanent settlements, trade networks, and population growth, laying the foundation for global market integration.
What role did the Fertile Crescent play in the development of agriculture?
-The Fertile Crescent, located in what is now Northern Africa and the Middle East, was the first place where humans settled into agricultural villages. Its fertile soil, gentle rains, and long growing seasons made it an ideal spot for farming, thus playing a crucial role in the development of agriculture.
How did the Industrial Revolution transform economic and social structures in Europe and America?
-The Industrial Revolution transformed agrarian and handicraft economies into industrial, urbanized ones. It saw the development of mechanization in factories, mass production, and the rise of wage labor. This led to increased productivity, urbanization, and economic growth, but also resulted in poor working conditions and increased economic inequality.
What was the impact of the steam engine on industrialization?
-The steam engine was integral to industrialization, as it powered factories, locomotives, and ships. It allowed for the increased use of machines over human or animal power, leading to greater efficiency and the development of new industries.
Why was Britain the birthplace of the Industrial Revolution?
-Britain was the birthplace of the Industrial Revolution due to factors such as relative peace and stability, abundant native resources, a powerful navy, and a supportive environment for engineers and inventors. Additionally, the wealth from its colonies provided a catalyst for industrialization.
How did the Industrial Revolution affect the population distribution in Britain?
-The Industrial Revolution led to a significant shift in population distribution, with people moving from the countryside to cities for industrial labor opportunities. By 1900, 85 percent of Great Britain's population lived in towns or cities, compared to only 15 percent in 1750.
What were the economic casualties of the Industrial Revolution?
-The economic casualties of the Industrial Revolution included poor working conditions, low wages, and dangerous work environments, primarily for women and children who were the main factory workers. This led to increased economic inequality despite overall productivity gains.
How did technological advancements contribute to international market integration?
-Technological advancements such as the railroad, locomotive, and marine steam engine revolutionized world transport, connecting distant markets and reducing transportation costs. This allowed goods to be carried across the world more efficiently, contributing to the creation of a truly global economy.
Outlines
🌐 Global Market Integration Overview
The paragraph introduces the topic of global market integration in the 20th century. It discusses the concept of market integration, where prices of goods and services in different locations follow similar patterns, indicating a single market for the same product. The speaker, Juan Carlos El Molina, provides an overview of global market configuration, the impact of the Industrial Revolution on foreign integration, and the positive and negative aspects of market integration. The script also touches on the historical shift from hunter-gatherer societies to agricultural communities, which laid the foundation for economic development and global market integration.
🌱 The Agricultural Revolution
This section delves into the Agricultural Revolution, also known as the Neolithic Revolution, marking a significant economic shift from hunter-gatherer societies to settled agricultural communities. The Fertile Crescent is identified as the cradle of agriculture, where favorable conditions like fertile soil and gentle rains supported the domestication of plants and animals. The revolution led to the establishment of permanent settlements, the development of trade networks, and population growth. However, it also introduced new challenges such as vulnerability to weather, dietary deficiencies, and the spread of diseases due to increased population density. Despite these issues, the Agricultural Revolution is seen as a pivotal moment in human history that set the stage for further economic advancements.
⚙️ The Industrial Revolution and its Impact
The paragraph discusses the Industrial Revolution, which transformed agrarian and handicraft economies into industrial and urbanized ones. The revolution was underpinned by the Agricultural Revolution, which increased food production, supported population growth, and enabled the shift of labor to industrial towns. The use of machines in farming reduced the need for farm workers, who then moved to industrial centers. The development of the steam engine, powered by coal and iron, was a key driver of industrialization. The revolution led to the growth of cities, with a significant increase in urban populations. It also resulted in better living standards and access to a wider variety of goods due to mass production. However, it also brought about economic inequality and poor working conditions, especially for poor women and children who worked in factories. The paragraph concludes by noting that while Britain was the birthplace of the Industrial Revolution, by 1900, the United States had become the world's leading industrial nation.
🚂 Technological Advancements and Global Market Integration
The final paragraph focuses on the advancements in international market integration that led to the creation of a truly global economy. Technological innovations such as the railroad, locomotive, and marine steam engine revolutionized transportation, connecting the world and creating a faster transport network. This allowed goods to be carried across the world at lower costs, making them cheaper even in distant markets compared to local production. The paragraph summarizes the history of global market integration and concludes the video script on a hopeful note, suggesting that the audience has gained valuable insights into the topic.
Mindmap
Keywords
💡Global Market Integration
💡20th Century
💡Industrial Revolution
💡Agricultural Revolution
💡Domestication
💡Fertile Crescent
💡Manufacturing
💡Mass Production
💡Economic Casualties
💡International Market Integration
Highlights
Introduction to the topic of Global Market Integration in the 20th Century
Definition of Global Market Integration and its significance
Explanation of how market integration occurs through similar price patterns
The impact of the Industrial Revolution on global market integration
The shift from hunter-gatherer societies to agricultural villages
The Agricultural Revolution as a precursor to the Industrial Revolution
The Fertile Crescent as the birthplace of farming
Challenges faced by early agricultural societies
The Agricultural Revolution's role in enabling surpluses and trade
The transformation of agrarian economies into industrial ones during the 1800s
The role of the steam engine in powering industrialization
The development of the textile industry through mechanization
The growth of urban populations due to industrial labor opportunities
Great Britain as the birthplace and early leader in the Industrial Revolution
The spread of industrialization to other countries by 1900
The shift from home-based production to factory wage labor
The economic and social consequences of the Industrial Revolution
The advances in international market integration and the creation of a World economy
The impact of technological advancements on global transport and trade
Conclusion and summary of the history of Global Market integration
Transcripts
so our topic for today is brief history
of Global Market integration and 20th
Century so my name is Juan Carlos El
Molina base 80 first year
block k so
Global Market regulation in 20th century
so person overview
introduction Global Market configuration
example product positive and negative
revolution industrial revolution
foreign
Young
um
integration
it is a set of Affairs of crossing of
involving attempts thrown by separate
National Economic into a larger economic
region
integration is
[Music]
goods and services
integration
occurs when prices among the current
locations or related Goods follow
similar patterns available
over a long period of time groups of
goods often move proportionally to each
other and when their religion is very
clear among different markets it is said
that apparently that the market are
integrated this equation in which
markets for the same product become one
single market so you
Market integration is
among countries is
uh
related
population
Industrial Revolution foreign
foreign
students are positive integration demand
is restrictions
foreign foreign
can you tell me what was it thanks Arjun
well somewhere around ten thousand to
twelve thousand years ago humans were
living all over the globe in small
Loosely organized groups of
hunter-gatherers
these groups moved around a lot hunting
whatever animals they could find and
using available plants for food Life as
a hunter gatherer was hard you had to
follow flocks where they drifted and
pick up and move when the resources of
one area were exhausted eventually
people in the Middle East Africa and
Western Asia began to settle down into
agricultural Villages
agriculture is the process of modifying
the environment in order to use it more
effectively these Villages formed when
people began to domesticate plants and
animals by domestication we mean to make
something useful to humans
that can include anything from roping
livestock to taming a dog to selectively
breeding vegetables to make them bigger
and more nutritious
so with their domesticated plants and
animals villagers had a steady source of
food
animals could also be used to work on
the land as well as Supply leather Furs
and fertilizer
according to the experts they considered
that the very first place where humans
contributed in farming was something
called the Fertile Crescent
this area of what is now in Northern
Africa and the Middle East had fertile
soil gentle rains and long Springs and
Summers all of which made it an ideal
spot for farming
the agricultural life wasn't easy at
first people didn't have the stress of
moving around constantly but they became
more vulnerable to elements like weather
and their diets suffered from lack of
variety early villagers could only Grow
Limited types of food the people tended
to be smaller and less healthy than
hunter-gatherer populations then there
are the issues of waste and disease when
large populations start to settle down
together they produce a lot of trash and
when so many people live close together
diseases spread easily it's true
agriculture doesn't seem like such a
great development at first but our lives
would be really different if our
ancestors had never settled down today
we can look back on the first
Agricultural Revolution which is also
called the Neolithic Revolution as a
turning point in the history of the
world the first big economic change was
the Agricultural Revolution when people
learned how to domesticate plants and
animals
they realized that it was much more
productive than hunter-gatherers
societies
became the new agricultural economy
farming helped societies build surpluses
meaning that everyone had to spend their
time producing food and like
hunter-gatherers they spent most of
their time in Hunting Fishing and
harvesting wild food this in turn led to
Major developments like permanent
settlements trade networks and
population growth
[Music]
the economic developments of the 1800s
saw the development of agrarian and
handicraft economies in Europe and
America transform into industrial
urbanized ones the term to describe this
phenomenon would be known as the
Industrial Revolution and was first used
by French writers but made Popular by
English economic historian Arnold
toynbee the Industrial Revolution was
underpinned by the Agricultural
Revolution from the mid-18th century to
the mid 19th century agricultural
production increased significantly
the huge increase in food output
supported the expansion and sustained a
large population and boosted trade the
increased use of machines over human or
animal power in farming also meant that
less Farm Workers were needed and they
could leave the land to Industrial towns
better metals and richer fuel also
contributed to industrialization by
creating the steam engine an integral
machine to industrialization which
powered factories locomotives and ships
the new steam engines use coal and iron
both in their construction and as fuel
increasing demand for these resources
roads canals and Railways changed
Britain dramatically connecting Britain
and allowing Goods to be sent over long
distances visually the Revolution was
clear in the new industrial towns with
smoking factories dominating the skyline
the cities were horrible to live in
overcrowded and dirty with dangerous
conditions in the factories and strict
rules and punishments the industrial
revolution saw mechanization in
factories of the textile industry which
was previously manufactured in the home
creating the term cottage industry now
production could be increased on a large
scale because of new inventions such as
the spinning mule and the power loom the
iron industry developed with Henry
bessemer's inexpensive process for
mass-producing steel Iron and Steel were
key materials for constructing the tools
in Machinery steam engines and ships
needed for the industrial progress
industrial labor opportunities Drew
people to the cities from the
countryside to such an extent that in
1750 only 15 percent of the population
of Britain lived in towns by 1850 over
50 percent of the entire population of
Great Britain lived in either a town or
a city and by 1900 it was 85 percent
London had 4.5 million people Glasgow
760 000 Liverpool 685
000 and Manchester and Birmingham five
hundred thousand Great Britain was the
birthplace of the Industrial Revolution
and was the only mature industrial
economy for a long time historians have
speculated that this was because as an
island there was relative peace and
stability for Britain compared to
Mainland Europe rather than spending on
a large defensive standing army Capital
could be spent on other Ventures and
there was confidence for investors
native resources were also abundant and
readily available for initial
technological developments and
inventions engineers and inventors were
also respected and encouraged in British
society and were backed by wealthy
patrons a powerful navy and an Empire
bringing in vast wealth from its
colonies also contributed to the
Catalyst for industrialization before
others
nevertheless Germany France Switzerland
Belgium and the United States soon
emulated Britain's industrial change and
by 1900 Britain would no longer be at
the top with the United States as the
world's leading industrial nation in the
20th century
the second major economic Revolution is
the Industrial Revolution
Ary tools like steam engines
manufacturing and mass production with
the help of this the work of the people
became easier
factories popped up and changed her work
function it instead of working at home
where people work for their family by
making things from start to finish they
began working as wage laborers and then
becoming more specialized in their
skills
productivity went up standards of living
rules and people lead access to all to a
wider variety of goods due to mass
production however every economic
Revolution comes with economic
casualties the workers in the factories
who were mainly poor women and children
work in dangerous conditions for low
wages
as a result 19th were known as travel
Barons with more productivity came
greater wealth but also greater economic
inequality
[Music]
within centuries saw substantial
advances in international market
integration
in the creation of a truly World economy
technological Advance was critical in
this
the railroad locomotive and the Marine
steam engine revolutionized World
transport team ships connected the World
Sports each other creating a new and
faster World transport Network Pride
rates fell and goods could be carried
across the world to ever more distant
markets and still be cheaper in those
far away places on the same item
produced local
so that is the history of Global Market
integration
I hope you learned a lot today thank you
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