Capitalism And The Industrial Revolution

Decent Essays
According to Thomas L. Friedman, author of The World is Flat, the concept of globalization happened in three eras. The first era occurred 1492 until 1800 with the age of exploration and discovery. Globalization 2.0 followed, lasting 1800-2000. It was characterized by the Industrial Revolution. The third era of globalization began in the year 2000, and occurs to this day (Friedman, year, p.8). But the real question is, what sparked the rise of globalization? The term is modern, but the concept is not. Capitalism and the Industrial Revolution played a huge part in the development of industrial cities and globalization. The need of goods that cannot be produced everywhere sparked trade and exploration, and with that came capitalism and the rise of technology as well. Surplus of products led to a population growth, and technological advances led to trade. The world was being utilized for economic growth. With globalization 2.0 came the industrial revolution, and a huge economic time for the United States. More trade and technological advancements and inventions helped people and products prosper. Transportation in the form of trains and steam engines grew the economy and industrial cities rapidly. Multinational corporations led to new immigrants, and thus diversifying populations. Unemployment rates decreased with the demand of jobs that needed to be filled. Everything could be accomplished faster than ever before. The population of the United States doubled and even
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