1. Industrialization and the Marxist Response
    : Between 1850-1871, Continental industrialization came. Innovations of British Industrial Revolution were regulars of economic expansion. This age had both depression (recession) and prosperity
  2. I.                   Industrialization on the Continent 
    • a.      The transformation of textile production from hand looms to power looms completed In Britain for cotton (1850s) and wool (1870s)
    • b.      On Continent, 1850-1870 increased mechanization of cotton and textile industries, although countries still behind Britain
  3. 1870
    •                                                               i.      By 1870, hand looms disappeared in Britain, but not in France
    •                                                             ii.      This period of industrial expansion on the Continent wasn’t fuel by textiles as by growth of railroads, which stimulated growth in iron and coal
  4. Between 1850 and 1870
    • a.      Between 1850 and 1870, Continental iron industries transitioned from charcoal iron smelting to coke blast smelting
    •                                                               i.      Despite dramatic incresees in production of pig iron, Continental countries didn’t surpass British
    • 1.      1870: Britisn iron industry produced ½ world’s iron
    • 2.      Middle decands of 19th, the textile, mining and metallurgy industries on the Continent converted to the use of the steam engine
  5. An important factor
    • a.      An important factor in market expansion= elimination of barriers to international trade
    •                                                               i.      Essential international waterways were opened up by elimination of restrictive tolls
    • 1.      The Danube River in 1857 and the Rhine in 1861 were declared freeways for all ships
    • a.      The negotiatison of trade treaties in the 1860s reduced/ eliminated protective tariffs throughout much of w. Europe
  6. Government's role
    • a.      Governments role in allowing and then encouraging formation of joint-stock investment banks
    •                                                               i.      Bansk were crucial to Continental industrial development because they mobilized enormous capital resources for investment
  7. 1850s and 1860s
    • 1.      In 1850s and 1860s, banks were very important in the promotion of railway construction, although railroads weren’t always safe investment
    • a.      Spanish banking system,w hich depended on railway shares, fell
  8. Before 1870
    • a.      Before 1870, capitalist factory owners remained free to hire labor on own terms beased on market forces
    •                                                               i.      Although workers formed trade unions in an effort to fight for improved working conditions and reasonable dwages, the unions tended to represent only a small part of the industrial working class and proved ineffective
  9. Real change
    • 1.      Real change for industrial proletariat only in development of socialist parties and socialist trade unions, which came after 1870
    • a.      Theory that made them possible was Karl Marx’s
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