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Early Modern Globalization and the Industrial Revolution, Essay Example

Pages: 6

Words: 1554

Essay

There has been a great debate on how early modern globalization impacted changes that have evolved to where we are in today’s society.  Monopolies, international trades, and political involvement all had a large hand in the industrial revolution.  An industrial revolution, during any time period is merely about change. Change for the betterment of an individual, a community, and even a country.  Many global events played out during the 1500-1700’s that set the stage for each country’s individual successes.  Political powers and money monopolized the modern globalization and dictated the direction of the industrialization during this time period.

There is no doubt that early modern globalization created a clear alliance between the business and governmental issues.  Government in a democracy allows the majority to set the rules. However, governmentsin a dictatorship, monarchy or other similar forms are ruled based on what is best for the ones in charge.  The old saying, “the rich get richer” has a significant amount of bearing in the early modern globalization.  The industrial revolution during this period was merely about change and a creation of a new type of society.  It was not necessary beneficial for all. The ones with the product and the money are the ones who dictated how the industrialization would evolve.

Early modern Globalization and the Industrial Revolution is almost a triangle of product, money, and demands.  Country A has excess of a specific product so they own the control to price it and export it in the means that best suites them.  Individuals set up their businesses and determined the terms for which they would operate.  “The big trade partnership of the sixteenthcentury and earlier were created with a planned date of dissolution – sometimes at the end of one voyage, sometimes after a set number of years – at which point all of the firm’s holdings will be liquidated and divided among the partners.”  (Violent birth of the corporation) So two men could determine to take their product and sell it to another country knowing the trip would take two years round trip.  They invest their money in the boat, crew, and living supplies as capital to start their business.  Comparable to a partnership in today’s business formations.  Once the trip is complete they have the options to liquidate their investments and split the profit equally.  This was how business was done during this period.  However, with money and government involvement change is inevitably going to come.

The new modernization of the firms did not come with an expiration date, they were the beginning of corporations.  However, the market at this time did not demand a corporate structure.  The money was based on individual runs or trades, and individuals could usually raise the money without having to go into a business arrangement with total strangers.  Many individuals felt that they would be better suited in a business deal that had specific start and finish dates.  They did not want total strangers having the power to dictate how they did business.  On the other side of the equation, investors had little confidence in this newly predicted business formation so there was not guarantee on repayment.  Corporations did not take off right away due to the uncertainties on both sides and business continued in the way they were used to operating.

The industrial revolution also sparked the mass production type of facilities.  These included coal-mining and cotton mills.  They were also typically family owned and operated.    Internationally earned capital demanded that the partners have some patients with earning their payout.  A typical voyage to and from East Asia could span over a three year period.  Obviously individuals with money would be better suited to operate in this type of business.  They have the funds to start, operate, and live that long without pay.  It could really limit the ability of individuals to continue in this type of industry.  The potential return can be significant, however there has to have initial capital to fund this as well.

Violence demanded the change from individual endeavors to corporations.  Violence was used to maintain monopolies, and others reacted with counter attacks as a result.  The game was seizing and fortifying by arming their ships to defend their territories.  The New World offered a shorter distance but face other obstacles.  “Unlike fortified European bases in Asia, which could buy supplies and buy laborers from highly commercialize neighboring societies, New World bases needed to be much more self-sufficient, and so had to be real colonies with productive agriculture – something that took much longer to create.” (Violent birth of the corporation 2)If a country attacked ships coming into their country, there would be no way for individual entrepreneurs to defend themselves to continue their exporting.  Business structures had no choice but to evolve.

The European dictators were not in favor of the new changes heading towards corporations.  They wanted to secure their monopolies based on their power to take it.  Companies who provided their own protection that came with a price did not last either.  The cost of war was extensive, and they were continually undercut by individuals who smuggled goods in.  Therefore these dictators could not continually fund preventing others from challenging their industry.  The price tag with that became far too heavy and they had to eventually get on board with the change of the business structure.

Not only money controlled the business and industrial revolution, but the government had a large hand in it as well.   This sparked the Revolutions.  The Revolution was essentially justified by three main Declarations.  In 1689 England created the Declaration of Rights. This was following the overthrowing of James II.  The United States followed in 1776 with the Declaration of Independence.  This signified the separation of Britain in the American Revolution.  And finally, in 1789 France launched the Declaration of the Rights of Man.  This is when Louis the XVI was overthrown and the old regime.  They were based on specific grievances that each country deemed it necessary to amend.  All three Declarations are a turning point in the modern globalization.

There were three major transcontinental trade the exploded during this time period.  “One was the slave trade from Africa to the New World.  Another was the export of huge amounts of gold and silver from the American mines to both Europe and Asia.  The third and the only kind to last well into the industrial age was a boom in what have been called the “drug foods”: coffee, tea, sugar, chocolate, tobacco, and later opium.” (Brewing up a Storm)  These were significant in their own specific countries and allowed for their own type of monopolies.  They became a large percentage of revenue for their growth as well.

It is important to understand that the change in the industry was summed up in a simple explanation.  “Trade was largely in tribute goods exacted through force or the threat of force; it was not private property created with the intention of profit.” (Brewing up a Storm.  It’s a commercial system regulated by the government running it.  The government and the monies that supported it dictated the terms and change or lack of change that took place.  Inevitably they help back the evolution in a way because they hung onto the desire to control the money and the product.  Not fully seeing the big picture and how profitable it could be to open the doors to total trade and production of good.   There were limitations on international trade. “But the loosening of Islamic rule was even more important: as long as tribute was paid, local rulers were allowed to do as much as they pleased.  Most rulers allowed traders of all faiths to move freely from port to port.” (When Asia was the World Economy)  Money dictated the rules.  Rules were optional during the industrial revolution if money was present.

Understanding the modern globalization and it total span is difficult.  Trade and business spanned over several countries of which one country held their own monopolies.  When alternate options challenged the monopolies the government tried to restrict them and the forces took matters into their own hand.  The money spend opposing change and growth only hindered the industrial revolution.  Inevitably change was necessary and it was going to come.  In some cases it took extreme force, but the ability to market their product was based solely on their ability to produce or manufacture it.

Political powers and money monopolized the modern globalization and dictated the direction of the industrialization during this time period.  There was an excessive push to gain control and monopolize modern globalization during this time period.  New governments were formed, declarations drafted, and change enforced.  Even in modern times, there is a lot of attempts to monopolize a market and capitalize on the profit that comes as a result.  Regulation and development demanded that war and power relinquish their control in the trade and import areas.  Countries agreed on trades and the modern globalization became profitable for the majority.

Works Cited

Pomeranz,Kenneth. Violent Birth of the Corporation.The World that Trade Created: Society,     Culture, and the World Economy, 1400 to Present. 2006. Print.

Pomeranz,Kenneth. Brewing up a Storm.The World that Trade Created: Society, Culture, and    the World Economy, 1400 to Present. 2006. Print.

Pomeranz,Kenneth. When Asia was the World Economy.The World that Trade Created: Society, Culture, and the World Economy, 1400 to Present. 2006. Print.

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