Topic > Capitalism and the Industrial Revolution - 1770

The Industrial Revolution of the 18th and 19th centuries was undoubtedly the most important turning point in history. It transformed the production of goods from artisanal to mercantile, exponentially increasing production and decreasing production costs leading to prosperity and an unprecedented supply of goods to the world's markets. Industrialization and mass production were the fuel that lit the flame of already existing capitalism, creating radical changes in wealth and its distribution. Within a few generations the very fabric of society was virtually rebuilt as millions of people left the farms and villages of the countryside to work in the cities. This sea change did not immediately affect the entire globe, but remained concentrated in Western European countries and the United States, thus laying the foundation for the hierarchy of nations in the world, which has changed only slightly since then. While there are several factors that helped facilitate this state of affairs, the main reason for its existence can be compared to a dishonest poker game with the West dealing a deck of cards to the rest of the world. Industrialized countries used restrictive trade laws, sometimes military force, and, above all, exploited regional conflicts between ethnic groups to create a hierarchy or class system between nations, the effects of which are still visible today. Westerners believed themselves to be both culturally and intellectually superior to people in places like Egypt, India, and the rest of Asia. So, instead of seeing themselves as exploiters of foreign populations and cultures, they instead saw themselves as serving the greater good of humanity by elevating... middle of paper... Lerstein's dependency theory, with its core, periphery, and semi-nations. peripheral and to a large extent made the world what it is today. Western factories could produce products of equal quality to those produced locally at a lower price. For startup industries to thrive, they must produce goods that they can sell at a profit, the wave of cheap imported goods from the West has made this unlikely. Industrialization has had a huge impact on the world order and hierarchy of nations. Western Europe and the United States, which first followed this path, became the undisputed economic leaders of the world. Mechanization allowed their economies to grow enormously by devouring raw materials from ports around the world. They exploited conflicts within other nations and used restrictive trade regulations to maintain their superior status.