A Comparative History of Commerce and Industry, Volume II: by David E. McNabb

By David E. McNabb

A Comparative heritage of trade and undefined, quantity II deals a subjective assessment of ways the cultural, social and fiscal associations of trade and advanced in industrialized international locations to supply the establishment we now recognize as agency.

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Additional info for A Comparative History of Commerce and Industry, Volume II: Converging Trends and the Future of the Global Market

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4 Pa r t I I Transformation of British Commerce and Industry 4 Chapter 3 R e bu i l d i n g Bri t i s h C o m m e r c e and Industry W hat happened to the British business system after the great depression of the late 1800s? Did this nation’s economic position decline as a consequence of overproduction or growing international competition? Was it true that British entrepreneurs were unable or unwilling to adopt the many technological and managerial advances coming out of Germany and the United States?

4 Chapter 2 The Path t o Industrializ ation T he growth of a system of commerce and trade was the driving force behind the emergence of modern capitalism. This does not mean that it did not exist in many guises for many centuries before this transitional period. Certainly, trade and commerce must have taken place as early as the dawn of civilization and the first cities. Townsfolk need to trade with people outside of their walls for much of their food and most of their luxuries. We know that small-scale businesses were operating even before the Golden Age of Greece and the flowering of the Roman Empire.

Rebuilding British Commerce and Industry 29 business system still struggling to retain its earlier lead in the industries of an earlier age. The second industrial revolution was to a large extent characterized by the gradual loosening of a dependence on traditional raw materials, such as coal and iron ore. New materials, processes, and technology were grafted upon the old industrial base and, in many places, supplanted them. An example is the chemical industry. The major feedstock for the early chemical industry was coal; the first major value-added products of the coal commodity were synthetic dyes for the textile industry.

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