Premium Essay

Britain

In: Historical Events

Submitted By memoriesfade
Words 1090
Pages 5
Country First Rev. Second Rev. Third Rev.
Britain • 1760’s – 1830’s
• Agriculture improve:
• Open field inefficient
• Animal raising and new crops
• Transportation: canals, turnpikes
• Financial:
• Bank of England created
• Adam Smith’s invisible hand
• Provincial banks created
- Technological:
• Spinning Jenny, steam engine • 1840’s – 1940’s
• Transportation:
- railway
-shipping changes from wood to steel construct.
-automobiles
• Mining:
• Steel, iron, coal
• Financial:
• Limited liability
• Larger firms
• Technological:
• Textile and electrical engineering
• Depression after WWI:
• Cotton market down and exports down
• Bankrupt due to WWI
• Response via tariffs, limited unemployment insurance, devaluation of currency and abandonment of gold • 1940’s - PRESENT
• Beveridge → nationalize industries services
• Lagged behind other countries but major player in petro, auto, and pharmaceuticals
USA • 1790’s – 1850’s
• Agriculture and National Economy:
• Cotton gin spurred slavery in West
• Transportation:
• Railway, canal, roads
• Technology:
• Textiles, vulcanizing rubber, wheat reaper, telegraph
• Immigration:
• Chinese, Irish, Germans (up) • 1860’s - 1940
• Transportation:
• Railways increase
• Technology:
• Telephone, patents, Bell & Edison
• Entrepreneurs:
• JP Morgan, Carnegie, Rockefeller
• Roaring 20s:
• Exports increase
• Ford and the car
• Tariff law (Fordney’s)
- 1929 depression:
- unemployment increase
- Roosevelt’s New Deal
- collective bargaining
- WWII: - spur economy and unemployment down
Made money from lending • 1940’s - PRESENT
• Post War:
• Low unemployment
• Exports boom
• Gov. spend up
• Gov’t economy share
• Problems:
• Deficit increase
• National debt increase
• Poor income distribution
Japan • -1867
• Transportation:
• Increase railways
• Output:
• Silk increase, exports...

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