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Tuesday, March 25, 2014

How did the Industrial Revolution affect the scale of businesses and overall economic activity?


The Industrial Revolution led to an increase in the labor force as a whole.  Large scale factories arose, allowing for even more increases in the scale of industry.  For example, businessmen, known as the Boston Associates, employed female workers in the colonies.  These girls worked on textile mills and helped to expand America into the global textile market.  This shift to female labor also represents another way that Industrial Revolution increased the scale overall global economy.
Additionally, large businesses began to dominate the world economy.  A prime example of this was the United Fruit Company.  It allowed the Americas gain wealth and power through bananas.  The United Fruit Company had so much power that its participating exporters were known as "Banana Republics".  The company had economic and political influence in Latin America, showing how the Industrial Revolution had more than just impact on the world economy.


Sources:

" The Banana Republic: The Myth of the United Fruit Company." Myths of Latin America. N.p.,    n.d. Web. 24 Mar. 2014
"Economic Growth and the Early Industrial Revolution." Ushistory.org. Independence Hall Association, n.d. Web. 21 Mar. 2014.

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