Impact Of Globalization On The Age Of Industrialization

Over the course of history, never has there been a more significant transition of societal organization than that from feudalism to capitalism. The monetization of trade completely changed people’s standard of living in that they were no longer tied to a social monarchy and could engage freely in commerce. As well, newly discovered technology allowed populations to achieve economies that could generate successful productivity. In recognizing and analyzing this distinct historical event, it then begs the question of what exactly made the greater impact on the age of industrialization. There were numerous contributing factors that propelled worldwide economic development. Britain, as the most advance economy of the time, showed leadership in its introduction of limited liability law which is arguably the primary force behind the movement towards industrial capitalism. With investors now able to freely enter business with one another while being shielded from substantial debt th at could otherwise deter them from participating in commerce, the opportunity for new advances in economic development emerged, as made apparent in the aftermath of these laws,. The following essay will verify how, in accepting this principle and integrating it into their economy, it is evident why Britain became an international forerunner for financial prosperity. To begin, an explanation of limited liability should be provided prior to deconstructing the reasoning behind what makes it such a keyShow MoreRelatedIndustrial Revolution1160 Words   |  5 Pagesï » ¿ Industrialization of the 19th Century in America Matt Capone FIN 419 Professor Moore May 3, 2014 Over the course of time, the country of America has changed in many ways. Towards the end of the 19th century, a significant change took place in the fundamental structure of the economy. 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