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One of the interesting topics handled in the article is the change in market structure during the industrialization in America. A keen analysis by Fred Bateman and Thomas Weiss indicate the type of competition that existed during that time. Competition by the economist in small scale production during the pre-war period was eliminated by ensuring by the production of homogeneous goods thus the target market did not have much of a choice on the available goods (The Changing Structure Of American Industry 462). Another important aspect I learn from the subtopic is the post-war market structures that came in mainly as a result of large firms that produced commodities in large quantities. The location of the manufacturing firms was highly affected by the presence of cheap and efficient systems of transporting the raw materials and finished products to the market. Several key questions are tackled in the article with an article with possible answers and explanations given to make me understand. The first is the contrast between pre-war and post-war industrialization that has driven many scholars to great depths of explaining it. The possible answer is about the scale of production, location and the homogeneity of the goods produced.
An important aspect in this article that I can relate to economics is the monopolistic market strategy. Large firms located in a certain area during that time came together and monopolized the market making sure they determined a lot of factors in the market. However, they were afraid of overpricing so as not to attract other firms to that
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(“THE SECOND INDUSTRIAL REVOLUTION Book Report/Review”, n.d.)
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(THE SECOND INDUSTRIAL REVOLUTION Book Report/Review)
“THE SECOND INDUSTRIAL REVOLUTION Book Report/Review”, n.d. https://studentshare.org/macro-microeconomics/1661945-the-second-industrial-revolution.
It was a period of complete transformation of French society. The long-lasting ideas about tradition and hierarchy of monarchy and religious authority were brought down by the new principles of equality and Natural rights. French Historian Alexis de Tocqueville has written the book, which focuses on the French society before French revolution.
This book upon its release caused a huge uproar in the world because it managed in introducing new horizons to the common public who craved to know what the circumstances were like before the industrial revolution dawned on the entire world and changed things forever.
Every technology however, has its pros and cons and it is important to review some of the articles as highlighted by the economist. To begin with, the first article to look at is then layer-by-layer on how a three-dimension printer works. Three-dimension printing includes a progression in which a software solicitation directs a succession of numerical portions that comprise imageries through the aid of a computerized design to a three-dimension printer.
market, integrated by the railroad and the telegraph, a story told in more detail in the Visible Hand (1977), and partly due to its competitive characteristics. The railroads pioneered modern management in the 1850s and later, through bills f lading, intercompany billing, equipment identification and management, cost accounting, pricing, and so forth.
The book depicts that this political problem is closely linked with the need to obtain control of crop surpluses which were vital to the industrialization program-as payment for machinery imports, as raw materials for light industry, and as food for the growing numbers of urban workers.
This adaptation was efficiency-driven: rapidly expanding markets and science-based technologies spawned commercial opportunities which could be seized only by creating business institutions capable of handling high-volume production and distribution. The response came in the form of new "organizational capabilities" ("administrative coordination," as Chandler describes it in The Visible Hand, 1977).
It looked like the world had changed completely with respect to its priorities. Industrial Revolution began in Great Britain. From Great Britain, it took roots in the whole of Europe, North America and Japan. Eventually the fruits of the revolution were to be
Satisfactory explanations and examples are well utilized to show the logic and economical effects and changes that led to a sudden increase in population during the nineteenth century (WaltonRockoff 209). I get a chance to understand the concept of
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