DawnModIndustry - The Dawn of Modern Industry...

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The Dawn of Modern Industry Proto-industry to industry Proto-industry (cottage, domestic, putting out) Dispersed, rural workers who purchase some of their means of subsistence Organized by urban entrepreneurs who supply raw materials and take finished goods to distant markets Proto-factories Landowner-entrepreneurs build centrally organized factories for production - but NOT mechanized Ironworks, glassworks, shipyards, textiles Industry not overnight - transition in key areas Characteristics of Modern Industry Primary and Secondary sectors Diminished relative role of agriculture Yet greater productivity - feed more people Rise in secondary sector (mining, construction, manufacturing) Extensive use of mechanically powered machinery Introduction of new inanimate sources of power - fossil fuels Widespread use of materials not occurring normally in nature “Revolution” a Misnomer Early emphasis on “age of gadgets” (inventions), the sudden nature of the change, and the “bad effects” of industrializing Need to look at range of changes over time Industrial production, national income, efficiency, etc. Social and intellectual change important as well
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This note was uploaded on 02/17/2009 for the course ECON 4514 taught by Professor Shuie during the Spring '08 term at Colorado.

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DawnModIndustry - The Dawn of Modern Industry...

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