Power and Principles: The rise of industrialism and ideology

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HL European History

2002-09-17

Power and Principles:

The rise of industrialism and ideology

Notes Page 2-6a

The Industrialism of the West

  • Starting in Britain industrialism spread into Europe and north America
  • Germany and the US quickly became rivals to Britain but the west was the powerhouse
  • Steam, textiles, oil, electricity, steel and chemicals were great new innovations

Britain and the Age of Steam

  • Though it was the age of industrialism, Britain retained its strong working middle class
  • flexibility of the working class allowed Britain’s business to prosper
  • The bank of England was a solid support for industry and provided the stability that convinced many middle class Brits to invest in business.
  • American and British consumerism provided a large market for cheap, mass-produced goods

Industrialism Spreads to Europe and the Americas

  • The IR quickly spread from Britain across the world, each country adapted their own version of the British model, unique to themselves.
  • Importing machines and skilled labours from Britain, Europe was able to skip whole stages of development
  • Immense capitalism was required and the government and banks funded the operations more substantially than in Britain
  • Railroad and trade innovations allowed for the easy transport of goods
  • Latin America developed much slower, initially trading raw materials for manu. Goods

Power Sources, Transportation, Communication

  • The electric generator and internal combustion engine were invented providing power
  • Electricity, gas and oil were put to common use in everyday life
  • Steel became the material of choice for construction spurred by the need for transportation, such as train bridges
  • The emergence of the chemical industry produced things like plastics and dynamite
  • Railroads crisscrossed much of the landscape in less than 30 years
  • The telegraph allowed for instant communication between states and overseas
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Free Enterprise and Big Business

The Rise of Free Enterprise

  • Entrepreneurs created the free trade movement which spawned the generation of free enterprise, eliminating tariffs and regulations allowed monopolistic corporations
  • Germany, France and Prussia followed soon after the Brits
  • With producers competing for trade in the free market, the public was sure of getting the cheapest prices

Corporations and Cartels

  • Free competition allowed for the expansion of monopolistic corporations
  • The market was changing constantly, booming then depressing
  • Family firms quickly turned into joint-stock held companies
  • Corporations with endless pockets swallowed up smaller competition
  • A cartel was an ...

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