Essay on Capitalism And The Industrial Revolution

Essay on Capitalism And The Industrial Revolution

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Learning about our past developments of economic, political and cultural background contributes to our understanding of how the world works today because history becomes a part of who we are and what we do. At the root, world history is connected events and memories that are bonded through globalization. Globalization is the process in which the world is connected through shared networks such as trade, rivalry, or even practiced culture. These shared networks established in the earlier days created a purpose to our traditions or habits. Learning about capitalism, I have understood that capitalism contributed to the world becoming globalized within our economic system.
First, Capitalism is an enterprise system that effects the principle of people’s rights. Capitalism is one of the biggest factors that contributed to the world becoming more globalized and it affects us now as much as it did in the earlier era. Capitalism played a role in mostly the world’s economic system as in the flow of money, trade, profit, wages, class, etc. Capitalism was clearly shown in the industrial revolution. During this time handmade items and man power slowly became extinct because they were replaced by machines and factories: “the hold of tradition, family, rulers and the church on economic life diminished, and the values of the market- risk taking and innovation, individualism and competition, accumulation of material goods, and an acute awareness of the clock time – became ever more prominent” (The Human Journey 285) .This allowed for a massive production of goods to be made altering the number of supply and demand to grow .Businesses relied only on these factories and machines to make the profits so, they put almost all of their money made into on...

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... multiple factors of the globe such as economic, social structure, relationship between regions, and much more. We can learn from the mistakes that caused the Great Depression and now create a working effective stock market today.
In conclusion, having an understanding of capitalism I can see the globalization in my world through the economic system. Having the ability to control money is powerful. Having power you can do virtually anything. That is why capitalism was the driving motive to a lot of factors happening within the economic system and still continues today. Before History 102 I only had a sense of how capitalism affected the U.S during that time frame. But now I see capitalism from a bird’s eye view and understand the connections made within globalization. I have become educated not only in the world from the past but mainly in the world I now live in.

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