Flash cards
(75 cards)
1
Q
What year marks the beginning of the Great Divergence?
A
1500
2
Q
What major global economic change occurred between 1500 and 1800?
A
Europe began diverging economically from the rest of the world
3
Q
Which voyages initiated the first globalization?
A
- Columbus (1492)
- da Gama (1498)
4
Q
What were the primary exports from the Americas during this period?
A
- Silver
- Sugar
- Tobacco
5
Q
What was the primary export from Africa after the abolition of the slave trade?
A
- Palm oil
- Cocoa
- Minerals
6
Q
What did Asia primarily supply in global trade?
A
- Spices
- Porcelain
- Textiles
7
Q
What enabled long-distance sea travel and trade dominance?
A
The full-rigged ship
8
Q
What economic consequence did Spain face from its wealth in silver?
A
Inflation (Price Revolution)
9
Q
Which two countries built long-term empires via joint-stock companies?
A
- England
- Netherlands
10
Q
What major demographic shift occurred in England and the Netherlands from 1500 to 1800?
A
Rapid urbanization
11
Q
What did the consumer revolution in Europe lead to?
A
Increased demand for global goods (sugar, tea, tobacco, coffee)
12
Q
What energy source did England develop that became the cheapest globally?
A
Coal
13
Q
What agricultural change occurred in England and the Netherlands?
A
Agricultural revolutions increased food production
14
Q
How did high wages impact literacy and education in Europe?
A
Supported higher literacy, numeracy, and education
15
Q
What were the roots of capitalism before 1500?
A
Early roots in China and the Islamic world
16
Q
What internal developments in Europe supported economic growth?
A
- Banks
- Stock companies
- Property rights
17
Q
What was established by the Glorious Revolution in England?
A
Balance of power and strengthened Parliament
18
Q
What were the political institutions that fostered economic growth in England and the Netherlands?
A
- Power-sharing
- Rule of law
19
Q
True or False: The trade during 1500-1750 was a large share of GDP.
A
False
20
Q
What was the conclusion regarding the Great Divergence?
A
Began with Europe’s global expansion but driven by internal changes
21
Q
What key external change contributed to the rise of Europe?
A
Discovery of sea routes by Columbus and da Gama
22
Q
What internal changes encouraged European economic growth?
A
- Political competition
- Institutions supporting capitalism
- Agricultural and energy revolutions
23
Q
What was the impact of the French Revolution on legal equality?
A
Introduced equality under law across gender, class, religion
24
Q
What significant legislative change regarding class equality occurred during the French Revolution?
A
Introduction of uniform direct taxes
25
What was the contradiction of the French Revolution regarding slavery?
Slave trade persisted post-1789 despite ideals
26
Who led the Haitian Revolution?
Toussaint Louverture
27
What is Seymour Drescher's concept of econocide?
Abolition as a political choice that hurt British economic interests
28
What economic arguments were used against slavery?
* Free labor more efficient
* Slavery becoming economically obsolete
29
What was the outcome of the 1833 British Slavery Abolition Act?
800,000 freed with compensation to owners
30
What was a significant change in labor systems post-abolition?
Imposition of new systems of indentured Asian labor
31
What is capitalism defined as?
* Economic system based on individualized property rights
* Market economy with decentralized decisions
* Labor as a commodity
32
What economic growth rate did Britain experience from 1750 to 1870?
Early growth around 1.5% annually
33
What technological advancements drove the Industrial Revolution?
* Steam engine
* Textile machines
* Iron/steel production
34
What was the first factory-based industry central to the Industrial Revolution?
Cotton industry
35
What was the most transformative technology of the Industrial Revolution?
Steam engine
36
What political context supported Britain's economic growth post-Glorious Revolution?
Strong interventionist state supportive of capitalism and innovation
37
What drove falling transport costs in Britain?
Improvements in fuel efficiency, canals, road network, locomotives, and steam ships
## Footnote
The developments in transportation led to significant reductions in the costs associated with moving goods.
38
What was the role of the English constitution in economic growth?
Supported growth through tax powers, military spending, and infrastructure development
## Footnote
Parliament's ability to tax consumer goods and invest in infrastructure played a vital role in the capitalist economy.
39
What was a significant cultural influence during the Industrial Revolution?
The Scientific Revolution fostered belief in natural laws and practical experimentation
## Footnote
This belief influenced inventors and the general public, contributing to technological advancements.
40
What factors contributed to Belgium being the first continental industrializer?
* Access to coal
* Experienced textile labor
* Legal equality after 1830
* Strong state support for infrastructure
* Protection of industry until independence in 1830
## Footnote
These factors combined allowed Belgium to establish a strong industrial base early on.
41
What were the key sectors of industrial growth in the USA after the 1820s?
* Textiles
* Railroads
* Steel
## Footnote
These sectors were pivotal in driving rapid industrialization and economic growth in the United States.
42
True or False: The USA lagged behind Britain in industrialization by 1860.
True
## Footnote
Despite rapid growth in certain sectors, the USA was still dependent on British imports for manufactured goods.
43
What characterized Germany's industrial growth post-1850?
* Focus on steel, chemicals, and machinery
* State investment in technology and infrastructure
* Strong technical education system
* Coordinated banks and industrial policy
## Footnote
These elements combined to enable rapid industrial development in Germany.
44
Fill in the blank: The concept of industrialization has been expanded to include _______.
[lasting processes in labor systems, demography, and the role of the state]
## Footnote
This reflects a broader understanding of industrialization beyond mere economic metrics.
45
What were the reasons for Britain's decline in industrial leadership?
* Resistance to change
* Lagging in research and development
* Shift to financial services instead of manufacturing
## Footnote
These factors contributed to Britain's transition from being the 'workshop of the world' to the 'office of the world.'
46
What was a major impact of the Second Industrial Revolution (1870-1914)?
Innovations in chemicals, electricity, and mechanical engineering
## Footnote
These innovations aimed to combat decreased demand and led to the development of capital-intensive industries.
47
How did globalization impact trade dynamics during this period?
* British free trade policies
* Communication and transport revolutions
* Shift to free trade imperialism
## Footnote
These changes contributed to a more integrated global economy and altered trade practices.
48
What did dependency theory suggest about global inequality?
Structure of the global market explains international inequality
## Footnote
This theory posits that resource-rich countries experience different growth patterns compared to resource-poor nations.
49
What led to the emergence of social citizenship during industrial capitalism?
State interventions to mitigate negative effects of industrial capitalism
## Footnote
This included progressive taxation, welfare transfers, and labor protections to ensure basic living standards.
50
What political forces contributed to the egalitarian revolution in the North Atlantic world?
* Expansion of universal suffrage
* Rise of labor parties
* Social democratic movements
## Footnote
These forces played a critical role in promoting policies aimed at reducing inequality.
51
What demographic changes influenced the egalitarian revolution?
Economic growth, migration flows, and labor market shifts
## Footnote
These changes created a more politically active and economically aware populace.
52
Which instruments were used to promote diminishing inequality?
* Progressive taxation
* Unemployment insurance
* Minimum wage laws
* Public spending on welfare
## Footnote
These instruments were essential for redistributing income and ensuring economic security.
53
What was the result of the political struggles, institutional development, and social mobilization during this period?
The 'human face' of capitalism emerged, showing that technology and capitalism can coexist with equity only when balanced by political mechanisms and state intervention.
54
What political forces contributed to the egalitarian revolution in the North Atlantic world?
Expansion of universal suffrage, rise of labor parties, social democratic movements, and trade unions pushing for redistributive policies.
55
What economic and demographic changes supported the egalitarian revolution?
* Industrial growth created wealth but also labor unrest due to inequality
* Declining fertility and mortality shifted population structures
* Urbanization and mass education expanded the politically active middle and working class.
56
What instruments were used to promote diminishing inequality?
* Progressive taxation
* Creation of welfare states
* Labor market regulations.
57
What major shift occurred in industrial production after 1975?
Industrial production began shifting from the North Atlantic to the Global South.
58
Which countries became key industrial producers after 1975?
* South Korea
* Taiwan
* Brazil
* China.
59
What were the drivers of change for the new international division of labor?
* Globalization
* Foreign direct investment (FDI)
* Technological change.
60
What economic transition occurred in the Global North post-1975?
Economies shifted from manufacturing to services and high-tech industries.
61
What were the economic and labor market effects of the shift in the Global North?
* Rising income inequality
* Decline of unions
* Increase in dual-income households.
62
What are 'deaths of despair'?
Suicides and addictions that rose among displaced, low-skilled workers.
63
What long-term implications arose from the new international division of labor?
Ongoing need for policies to manage labor displacement and support vulnerable workers.
64
What factors contributed to divergent labor market participation in post-industrial society between the US and Europe?
* Strong welfare systems in Europe vs. minimal support in the US
* Stronger unions and labor protections in Europe
* Institutional support for women's work in Europe.
65
What characterized the rise of Tiger States like Taiwan and South Korea?
* Japanese colonial infrastructure
* Strong state-led industrial policy
* Universal education.
66
What was the impact of neoliberalism in Russia during the 1990s?
Sharp fall in production, life expectancy, and rise of oligarchs due to lack of regulatory infrastructure.
67
How did China's approach to market reform differ from Russia's?
China employed gradual, state-controlled reform while Russia underwent rapid 'shock therapy'.
68
What is the Glass-Steagall Act?
US law separating commercial and investment banking, enacted in 1933.
69
Define 'Cohort Fertility Rate'.
Average children born per woman in a specific birth cohort.
70
What does 'Purchasing Power Parity (PPP)' measure?
Exchange rate adjusted for relative costs of living between countries.
71
What was the outcome of China's phased, state-led transition?
Sustained growth, poverty reduction, and rising living standards.
72
What are the similarities between the economic development of Tiger States and China?
* Export-oriented growth strategies
* Strong state involvement in industrialization.
73
What distinguishes the timing of growth between Tiger States and China?
Tiger States industrialized earlier (1960s–1980s) while China started reforms post-1978.
74
What is the Age Dependency Rate?
Ratio of dependents (young + old) to working-age population.
75
What were the social consequences of rising income inequality in the U.S.?
Declining marriage and social stability among working-class populations.
