Short History of GLOBAL MARKET INTEGRATION in 20th century - BSIT - Block K

Summary

This 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

00:00

🌐 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.

05:02

🌱 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.

10:03

⚙️ 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.

Keywords

💡Global Market Integration

Global Market Integration refers to the process by which separate national economies become more interconnected. This term is central to the video's theme as it discusses how economies have become more interdependent over time. In the script, it is mentioned that integration occurs when prices of goods and services in different locations follow similar patterns, indicating a single market for the same product.

💡20th Century

The 20th Century is the time period from 1901 to 2000, significant for the video as it focuses on the economic changes and developments that occurred during this era, particularly in terms of global market integration. The script highlights the economic revolutions and technological advancements that shaped global markets in the 20th century.

💡Industrial Revolution

The Industrial Revolution is a term used to describe the shift from agrarian and handicraft economies to industrial and manufacturing economies that occurred during the period from the 18th to the 19th century. The video discusses how this revolution was a precursor to global market integration, with the Agricultural Revolution leading to surpluses and the rise of permanent settlements and trade networks.

💡Agricultural Revolution

The Agricultural Revolution, also known as the Neolithic Revolution, refers to the domestication of plants and animals and the shift from hunter-gatherer lifestyles to settled farming communities. The video explains how this revolution was a turning point in human history, leading to surpluses and the development of trade networks, which are foundational to global market integration.

💡Domestication

Domestication is the process of selectively breeding and training animals or cultivating plants for human use. In the context of the video, domestication is highlighted as a key factor in the Agricultural Revolution, where humans began to modify the environment to use it more effectively, leading to a more stable food supply and the development of villages.

💡Fertile Crescent

The Fertile Crescent is a region in the Middle East that is considered to be the birthplace of agriculture. The video mentions this area as the first place where humans settled and began farming, due to its fertile soil and favorable climate, which made it ideal for the Agricultural Revolution.

💡Manufacturing

Manufacturing refers to the process of producing goods or parts of goods through the use of machinery, tools, and labor. The video discusses how the Industrial Revolution led to significant advancements in manufacturing, with the invention of machines like the spinning mule and the power loom, which increased production on a large scale.

💡Mass Production

Mass Production is the production of large quantities of goods, typically using standardized machinery and processes. The video explains how mass production, enabled by the Industrial Revolution, led to an increase in productivity and a wider variety of goods becoming accessible to people, which in turn contributed to global market integration.

💡Economic Casualties

Economic Casualties refers to the negative consequences or the disadvantaged groups that result from economic changes or revolutions. In the video, it is mentioned that the Industrial Revolution, while increasing productivity and wealth, also led to greater economic inequality and poor working conditions, particularly for women and children in factories.

💡International Market Integration

International Market Integration is the process by which markets across different countries become more interconnected and interdependent. The video discusses how technological advancements, such as the railroad, locomotive, and marine steam engine, revolutionized world transport, leading to a truly global economy where goods could be traded across vast distances more efficiently.

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

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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