MGMT 1030 Lecture Notes - Lecture 4: New Class, Industrial Revolution, American Civil War
20 Jul 2016
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Merchants finding markets in britain for grain and timber : unstable economic expansion. Population in semi-isolated farms; families produced goods they needed at home. Skilled artisans supplied imported goods; but had to rely on different occupations to survive. Poor transportation system; limited circulation of mass-produced goods & suffered from unstable consumer demand. Freer international trade caused export industries to fluctuate but demand for upper. Large influx of immigrants which made farm land scarce. What stimulated the economy: growth of trade in natural resources. Trade in resources from upper canada to lower canada and urban centres. Processing agriculture and forest products; expanding beyond custom work". Food-processing companies were born; sawmills provided a huge amount of jobs: developing transportation sector. Initially with steamboats on lakes/rivers and new canals; end of 1840s into railways. Growing demand for steam engines and metal equipment. 1860 railway companies operating two rolling mills in toronto and hamilton.
