GGR336 Lecture 3 - Note to self* megan.ireland@utoronto.ca...

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Note to self**** megan.ireland@utoronto.ca GGR336 Lecture 3 Accordance to Lewis’s Manufacturing Montreal Rise of the Industrial City: - Capitalist industrialization - industrial change? A reconstituted political economy - urban change? New societies - new geographies Industrial revolution and a reconstituted political economy: 1. New technologies (power) and industrial sectors (machine tools, steel, chemical) drive on going capital accumulation (labour, land and machines) - by mid 19 th century new machines begin to develop (appliances, cars) and existing sectors change dramatically (shoe making industry) 2. From the 1820s the development of banks and other financial institutions both lubricated and drove the rapidly expanding industrial economy - the rise of Wall Street and City Hall Park - insurance, accounting include other financial institutions - NYC in USA becomes the hub, Montreal in Canada 3. Transformation of agriculture (modernization) - increased agricultural productivity (more is produced at a cheaper rate) - factors leading to this: colonization of new prime land, improved tools, improved farming techniques - important impacts: leads to migration of surplus rural labour, increases food supply - all leads to urbanization and industrialization 4. Various forms of communication and transportation technologies reduce cost and time, and revolutionize - railroad is critically important in 1890 - telegraph - first time links between people instantaneously -Changing investment and accumulation patterns as capital shifts into new fields and new institutions emerge to facilitate capitalist growth
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GGR336 Lecture 3 - Note to self* megan.ireland@utoronto.ca...

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