3.2 The rise of modern globalization

Modern globalization took off in the late 18th century with the Industrial Revolution. Technological advancements like steam power and the telegraph sped up production, travel, and communication, connecting distant parts of the world like never before.

This era also saw the rise of capitalism and nation-states. Global markets expanded rapidly, while European powers built vast colonial empires. These economic and political changes laid the groundwork for our interconnected world today.

Technological Advancements and Innovations

Industrial Revolution and Technological Advancements

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• Industrial Revolution began in late 18th century England involved shift from manual labor to mechanized manufacturing using steam power and later electricity
• Technological advancements during this period included inventions like spinning jenny, steam engine, and power loom which greatly increased production efficiency and output
• Bessemer process introduced in 1856 allowed for mass production of steel at low cost leading to construction of railroads, bridges, and ships
• Interchangeable parts and assembly line production (Model T Ford) made manufacturing faster, cheaper, and more standardized

Transportation and Communication Innovations

• Transportation innovations during Industrial Revolution included steam-powered ships and locomotives which drastically reduced travel times and costs
• Steamships allowed for faster, more reliable overseas trade and migration (transatlantic crossings)
• Railroads expanded rapidly in 19th century connecting distant regions and facilitating movement of goods and people (Transcontinental Railroad)
• Communication developments like telegraph (Morse code) and later telephone allowed near-instant transmission of information across long distances
• Laying of transatlantic telegraph cable in 1866 revolutionized global communication enabling messages between North America and Europe in minutes rather than weeks

Economic and Political Systems

Rise of Capitalism and Global Markets

• Capitalism emerged as dominant economic system during Industrial Revolution characterized by private ownership of means of production, wage labor, capital accumulation, and competitive markets
• Factory system of production replaced traditional artisan workshops leading to urbanization as workers migrated to cities for industrial jobs (Manchester, England)
• Global markets expanded rapidly in 19th century as transportation and communication innovations facilitated long-distance trade
• International trade agreements (Cobden–Chevalier Treaty) and organizations (International Monetary Fund) helped regulate and stabilize global markets
• Gold standard adopted by many countries in late 19th century provided stable foundation for international trade by fixing currency exchange rates to price of gold

Nation-State System and Colonialism

• Nation-state system consolidated in 19th century with rise of nationalism and idea of sovereignty within defined borders
• Colonial empires of European powers expanded rapidly in this period as nations competed for control of overseas territories and resources (Scramble for Africa)
• Colonialism involved political and economic domination of foreign territories primarily in Asia, Africa, and South America
• Colonial administrations were established to govern territories, exploit natural resources, and create captive markets for manufactured goods (British Raj in India)
• Resistance to colonial rule took many forms including armed rebellions (Indian Rebellion of 1857), nationalist movements (Indian National Congress), and non-violent civil disobedience (Salt March)