POLS 262 Chapter Notes - Chapter 4: Pax Britannica, International Political Economy, Second Industrial Revolution
6 Feb 2017
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Involved the application of machinery to production, the introduction of new energy sources to power the machines, and the reorganization of the labor force into factories. Began in britain and lasted from mid-1700s-1870s. Second industrial revolution (1870s) focused on new products and technologies, led by germany and the us. Revolved around developments in iron and coal power and railroad building. The introduction of mechanized production meant that the labor force had to gather in a single place to work with the machines. This resulted in the creation of the factory system, which concentrated a large number of workers engaged in different technical operations. Created a new economic relationship between people: The industrial population was divided into capitalist employers, owners of factories/materials, and workers, owned their labor that was sold for wages. Production was organized in the factor with specialized machines and specialized labor. Entire economy became dominated by capitalists pursuing profit.
