MGMT 1030 Lecture Notes - Lecture 2: Textile Manufacturing, Second Industrial Revolution, Roaring Twenties
8 May 2018
School
Department
Course
Professor
MGMT 1030
Lecture 2
Third Industrial Revolution
- 1940s to Present
- Pillars of Welfare State Established (1940s)
- Beveridge advocated ‘cradle to grave’ social safety net and
nationalization of industry
- Government needed to promote social safety during times of
industrial change
- Britain has lagged behind relative to other nations but remains an
important economic power
- Continued loss of imperial markets
- Major player in petroleum, automobile and pharmaceutical industries
First Industrial Revolution
- 1790s to 1850s
- Agricultural Improvements & The National Economy
- Southern cotton
- Less labour was needed because of cotton gin
- Westward migration/slavery b/c of soil exhaustion, improved tech &
gov’t sold at low prices
- Transportation Improvements
- Roads, canals, railroads
- Erie Canal (1825) linked the Great Lakes
- Trade Policy divided the US
- Growth of Industry
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