The growing population of the middle class during the Industrial Revolution had a growing influence over the country’s global reputation and economy. Not only did the middle class increase the revenue of the country, but also the revenue of themselves as a class. With more money as a class, this broad group of people were able to influence the economic, social, and political atmosphere of the time. The middle class bought many goods causing business to flood into urban areas. They also put some of their money into savings accounts which greatly increased how the banks could keep money flowing throughout the British economy.
Topic: The impact of the Atlantic Trade System on the birth of capitalism. Thesis Statement: The Atlantic Slave Trade played a significant role in the birth and development of capitalism in a positive way in Western World. Slaves sold as a property for profit and these profits contributed to the growth of modern finance and also slave labor in the plantation for Atlantic trade contributed to the development of capitalism in a way that it enabled more production and stimulated the economy of time. 1ST MAIN IDEA: Growth of the slave plantation gave rise to increase in labor and contributed to growing more fertile and abundant product. So, profits from plantations provided economic development and industrialization such as the increasing of the general prosperity.
Slave trade abolished in Britain and United States Introduction Before the American Revolution, slavery was a norm and accepted throughout the new world. Major European powers entered the transatlantic slave trade, because they had slave colonies. British came and dominated the slave trade because of its influence in Africa, where its ships carried African captives as compared to other nation. It was estimated that about three million slave were shipped across the Atlantic Ocean as a result. The colonies (British) produced a vast volume of goods like sugar, rice, tobacco and indigo needed for the home market, and the nation grew rich at the expense of slaves.
The revolution resulted in the development of a new social class the middle class. This class contained factory, min owners as well as engineers, doctors and lawyers. The flourish of this new social class greatly noticeable in Britain as the British scholars were more practical rather than theoretical. As Strayer explains, the discoveries on atmospheres and vacuums promoted the innovation of the steam engine in Britain (Strayer, 2012; 834). The industrial revolution brought the social status of business men up as they benefited the most from the industrial revolution, it can also be said that the factory and min owners were the sponsors of the industrial revolution.
Catrina Marr Engl. 650 - Spring 2018 Midterm Exam 1. Compare and contrast the transatlantic slave trade and the United States domestic slave trade When African slave trade began in 1540 approximately ten thousand individuals were captured per year. European traders then modeled a system of slavery based off African culture (described in early chapters of Equiano's narrative) and African slave trade soon gave way to an international, transatlantic slave trade; by 1750 - nearly two hundred years later - this figure increased 10-fold. The century between 1725 to 1825 yielded the highest rates of transatlantic slave trade recorded.
… The growing demand for and production of sugar created the plantation economy in the New World…” (Shah, 7). This means that sugar industries really depended on slaves to work on plantations in order to give them the amount sugar they want. This connects to the
From the 1870’s to 1900’s, Britain had one of the largest and most powerful armies in the world. With that sort of potential, it would’ve been a mistake not to colonize Africa. Taking control of the tip of Africa was extremely strategic of Britain, as from there they could control the trading routes and begin settling for future invasions and in the end, colonization. Also, the new Capitalist society forming because of Britain’s industrial revolution developed social problems many obvious social problems. The gap between the rich and the poor was larger than ever, and homelessness was on the rise as cities became extremely dense and overpopulated.
There were inventions in this time period that totally changed trade, travel time, communication and efficiency in the factories. Take the steam engine for example; in the article it says, “ The steam engine also revolutionized transportation, leading to ships propelled by steam power, which allowed for more reliable travel on the ocean… The steam engine was also the power source for trains… The result of this invention was an economy that boomed.” The invention of the steam engine total changed everything. Stronger boats and more railroads were made with them. People could travel cross-country much more efficiently. Also, with the new, strong ships, you could assure a safe cruze across the big waves of the 7 seas.
It also provided jobs for those who worked in all of the different shore-based activities, with providing the ships with what they needed. What also provided employment for many more was the demand for a large number of shops and boats. This need for ships and boats founded a successful shipbuilding industry, which again stimulated the Dutch timber trade. The Dutch ships were specially designed for carrying timber. One of the strengths of the Dutch Republic was their ability to combine the various industries to archive economic development.
This paper explains several reasons how the workers get motivated, more jobs are created and how businesses can save money on labor. And make the business more popular in the society. “28 million people will be benefited by the minimum wage increase across the country. Raising the minimum wage will put more money in people’s pocket which will pump back into economy by spending it on goods and services in community” -- President Barack Obama. The first minimum wage