All of this new technology and industrial processes we’ve seen in previous sections have massive repercussions. The most obvious outcome is to the economy. Mercantilism? No chance. It’s LAISSEZ-FAIRE time. This is all about Capitalism and it spreads as quickly as the Industrial Revolution itself. As these companies began to grow, they OUTGROW their national boundaries. Check the map. These are some of the Trans-National Businesses that emerged in this period. Many of these are still multi-billion dollar corporations in the 21st Century. Large corporations like these sell stock to let investors provide them with more capital. As the business grows, the shares of the stock gain in value. Risk is limited as it is spread out over thousands of people. This allows this Industrial Economy to thrive. Will it be equal and fair to all? No. We will see some backlash from the workers later. But, OVERALL; people’s’ standard of living improved in this period primarily due to advances in medicine and the Industrial Economy.

1. HSBC
2. DeBEERS
3. UNILEVER
4. UNITED FRUIT COMPANY
5. STANDARD OIL

1. THE WEALTH OF NATIONS (1776), Adam Smith
2. CONFESSION OF FAITH (1877), Cecil Rhodes
3. THE ASSEMBLY LINE (1913), Henry Ford
4. UNITED FRUIT COMPANY (1950), Pablo Naruta
5. THE HISTORY OF THE STANDARD OIL COMPANY (1966)

1. SHARE OF THE DEBEERS MINING COMPANY (1902)

2. US PRESIDENT TEDDY ROOSEVELT FIGHTS TO RESTRICT THE MONOPOLY OF STANDARD OIL (1906)

3. FORD ASSEMBLY LINE OPENS (1913)

4. NEW YORK STOCK EXCHANGE (1908)

5. UNITED FRUIT COMPANY EMPLOYEE IN HONDURAS (1954)

1. The Industrial Revolution drastically altered the world’s economy.
2. All of these changes led to a new, more truly global economy than ever before.
3. Stock Markets were established worldwide to facilitate investment in these companies.
4. Mercantilism is dead. Borders can no longer contain a successful company.
5. The Industrial Economy generally improved the standard of living for most people while leaving some overworked, abused, and neglected.