11.3_EconomicDevPoliticalDev - I. Transformation of...

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I. Transformation of American Economy- Market Revolution a. Shift to a more commercialized economy i. 1780-1800 there is a huge jump in world population- hockey stick ii. 1780-1820- rate of economic growth in western societies and soon the world as a whole, it shoots up to a sustained level between 1-2% iii. By the 1830’s there are yearly levels of 3-4% in Britain and US iv. Only partially attributable to Industrial Revolution, too small. Not paying attention to the magnitude of what happened. Ken Plamerist (sp?) calls this the Great Transformation b. Economic transformation and American concepts of freedom i. Changes are driven by, and creating, new concepts of American freedom ii. More people are involved in politics, more people involved in changing ideals of freedom iii. Malthusian Catastrophe wrote that agriculture production determines population growth. His ideas are right for animal populations, and right for previous human populations, but totally wrong for the future populations (hockey sticks) c. Chair Analogy i. Duncan Fyphe- Was right on the verge of becoming a Master. Hires Journeymen to work for him, to make and sell many more thing. This also shifts the career
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11.3_EconomicDevPoliticalDev - I. Transformation of...

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