Essay World Economy from 1850 Until Today

3248 Words 13 Pages
Analyze the development of the world economy from 1850 until present day.
Constantly changing, the world economy will never be the same as it was a year ago, a month ago, or even a day ago. It might repeat itself in a similar manner or proceed in cycles but because of globalization it never stagnates and there is endless activity. Two hundred years in the past, our society and economy was radically different and went through multiple phases to reach where we are today. Though the boundaries of these phases cannot be specifically defined, the world economy from 1850 until present day can be roughly split up into three different stages. The first stage being British dominance, the second being American domination, and lastly globalization
…show more content…
This new rich middle class contrasted with the poor proletariat thus creating class divisions. However, despite this separation, the Industrial Revolution was blooming.
Yet comparing the industrial revolution to a blossoming flower is almost grotesque and inhumane. The effects of the Industrial Revolution on people’s lives, namely the proletariat, were appalling. Living in such repulsive conditions the proletariat greatly suffered throughout the revolution. Workers were forced to move to the city if they wanted to find jobs and had to live in crammed shacks. No longer working in their homes, the functioning of proletariat families was disrupted; mothers, fathers, and sometimes even children worked long hours and obviously were not allowed to decide when they worked. The working class was paid very little and worked very hard at their same repetitive jobs, they we re the exploited class. Conditions in the factories were also terrible and extremely dangerous, many people died from machine related accidents or diseases contracted from the factories they worked in, such as white lung. Streets were breeding grounds for diseases because of the pilling garbage and the lack of sewage draining. Still, the Industrial Revolution continued its path to changing the economy and society of today.
The Industrial Revolution created a capitalistic and consumerist society; one that is always in need for new markets and one

Related Documents