09.23.09 - 09.23.09 World Economy Early commercial...

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09.23.09 World Economy Early commercial expansion 1500 – 1900 Initially commodity integration grew slowly (a little over 1% annum) 1720-1780 international trade doubles in alue 1789 to 1840 international trade increases more than threefold ‘1840’s -1870’s merchandise trade increases more than fourfold Early commercial expansion o Transport and communications Railways and steamship (become relatively fast and affordable) Suez canal (1869) and Panama Canal (1915) Telegraph and telephone systems o Capital Flows International financial market growth and integration(credit, loads, investments) o More sophisticated financial systems that lead to more trade and more integration in the world economy o Around 1870 we move from steam to electric power Population flows (1450’s to 1800’s) o Migrations of coerced slave and contracted indentured labor o 1800’s o populations grew faster relatively due to the diffusion of the industrial revolution Demographic transition theory o Relates births deaths and economic growth
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This note was uploaded on 02/01/2010 for the course GEOG 208 taught by Professor Akin during the Spring '10 term at McGill.

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09.23.09 - 09.23.09 World Economy Early commercial...

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