Showing posts with label *Economic. Show all posts
Showing posts with label *Economic. Show all posts

Friday, November 27, 2009

The Wage Labor

Working for Europeans was always the way to obtain money in these economies. In order to get money, they had to do some manual labor at a very small price. This labor is called the wage labor. Money earned from a man doing the job himself. Some of this wage labor was brought to many different parts of Africa and Asia. It was populated the most in the continents because African and Asian people were known to look up to the "whites", also known as Europeans, and do whatever they were told. Some types of wage labor included plantations, mines, construction sites, and building homes. These labor sites were located in many countries in Africa. For example, Trinidad, Fiji, Malaysia, Ceylon, and South Africa had very many plantations where the Africans could work at. Some ideas of labor were moving extremely heavy sacks of tea into a drying house so they could be exported to different parts of the world. Mines were probably the largest area of wage labor because over the 19th century, they found 55% of the world's tin. As a result, the Africans and Asians got a lot better at what they did and finally began to get higher paying jobs and less hours on the job. However, they would never fully be as rich as the Europeans.

Citation: The Ways of the World by Robert W. Strayer

Thursday, October 29, 2009

Cotton Gin

The Cottin Gin was one of the most powerful tools during the Industrial Revolution. First off, the cotton gin was a machine that quickly and efficiently seperated the seeds from the cotton. Not only was it at a very fast pace, but that it was a machine. This meaning, ALL of the seeds were picked out from the cotton since machines never fail to do its job. In addition, to having a machine picking the seeds out of cotton, the cotton gin made cotton so much less expensive since it was quicker and easier to make. As a result, more people could pay for cotton and it soon became a main product used for clothing. The Cotton Gin was not the only big revolutionary machinery made, it was definitely one of the more important revolutions happening during the Industrial Revolution.

Monday, October 5, 2009

The French Revolution Financial Crisis

Throughout the reading about the french revolution, I noticed many issues about how much debt France owed and how much money they needed to restore France's financial crisis. I decided to do more research on the issue. I found out that many controllers of France's finance tried their best to help but nothing worked until Charles Alexandre. He became the new general of finance in 1783, he stepped up to the plate and told everyone that rebuilding the financial structure was not going to work unless they "borrowed" money from the nobles and the King. Even though he persuade the king, the Assembly was not convinced and did not approve to give money to help fix the debt. He was then fired by the King and Etienne Charles took his place. Etienne decided to try to convince the people with civil rights like freedom of religious views. Then he tried Alexandre's way of asking the higher class for money. When this idea was rejected for the second time Etienne decided to attack. This made the people throughout France in great chaos which led King Louis and Etienne to surrender. After that disrupt, Etienne resigned and then Necker took power, he then prepared a meeting with the nations Reps before it became a greater issue then it already was. And that was just part of the economic issues for France.