Final Exam_Essay - IC 235 Final Exam Essays Essay #1 I....

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IC 235 Final Exam Essays Essay #1 I. Intro a. INTEGRATE migration systems theory II. 1870-1914 a. Winners i. European Capitalists 1. European financiers lent money to New World a. Bonds b. Loans 2. Europe was capital-rich, invested in New World infrastructure a. Ex: railroads 3. The gold standard allowed for European capitalists to become winners a. No exchange risk fixed exchange rates = little risk b. Nation-state fiscal austerity c. International seal of approval d. Lower interest rates e. More international investment 4. London was the center finance world 5. the United States, Argentina, and Germany caught up to the UK, France, and the Netherlands in economic productivity a. This was fueled by European capital 6. Flow of capital led to increase in specialization ii. New World Manufacturers 1. U.S., Argentina, Australia 2. They industrialized after UK, France, Netherlands a. New World eventually had an advantage because they had newer, more productive technology 3. Immigration fueled labor forces a. Most immigrants were working age i. Male ii. 15-40 b. New World’s population was predominantly working age c. Mass Immigration meant lower wages and better selection 4. Freedom of capital flows allowed for much investment in new industries and the establishment of more factories a. Gold standard allowed for ease of investment 5. Demand for goods was high a. Europeans needed finished goods b. Losers i. African Colonies (ex: Congo) 1. European countries rushed to colonize Africa in the late 19 th century 2. They used colonies for sources of labor and natural resources 3. There were many instances of exploitation of indigenous people a. Example: Congo rubber industry b. Workers thought they were going to be “civilized” and introduced to world markets. This did not occur. 4. European countries did not build up colonies’ infrastructure
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a. Consequently, they were not ingratiated into the global market 5. Colonies did not have: a. Infrastructure b. Education Systems c. Internal markets for goods d. Modern technology e. Independent trading partnerships with foreign countries other than their mother country 6. After colonial powers left, the colonies were not prepared to enter the global economy a. Had less resources b. Workers had no skills c. No organized economy ii. Domestic workers in the new world (USA, Argentina, etc.) 1. Immigration to the New World peaked during the wave of globalization in the late 19 th and early twentieth centuries 2. This immigration expanded the labor force in the new world, lowered job opportunities, and drove down wages. 3. Advances in working conditions and industrial regulation were halted by immigration because of the influx of workers a. Companies could always find people to fill positions even if working conditions were bad 4. After WWI, immigration quotas were established a. The xenophobia that existed at this time is partially due to waves of immigration III. 1970-Present a. Winners i. Asian Employers 1. Low wages, low prices, less labor regulation, and more favorable tax structures
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This essay was uploaded on 02/20/2009 for the course ILRIC 2350 taught by Professor Boyer during the Fall '09 term at Cornell University (Engineering School).

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Final Exam_Essay - IC 235 Final Exam Essays Essay #1 I....

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