SOSC 1520 Lecture Notes - Lecture 5: Josiah Wedgwood, Second Industrial Revolution, Industrial Revolution
6 Feb 2017
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Document Summary
Pre-capitalist trade system: focus = positive balance of trade, driver = inter-state competition, result = colonialism & imperialism. Contrast with capitalism: adam smith criticized mercantilism. In adam smith"s eyes, the wealth of nation is not measured the size of their treasury, but by a win-win competition rather than mercantilism. Also, a nation can make a much more stable income by specializing in something to make. Industrial revolution: progression toward industrialism, mercantilism: no production efficiencies, putting out system: independent craftspeople, manu-facture: specialized work, still human and animal power. The work was done outside the home in special designed buildings; the fist factories. 1750-1850: first: steam and water power, mechanized production and transport, key resources: wage labor, coal, leading product: textiles, leading figure: industrial innovator, inventor. Josiah wedgewood (pottery) factory innovations: location, technology, division of labor, clocking-in system, rules/regulations, school and housing: marketing strategy: showroom, branding, and commissions.
