ICT, Transnational Networks and International Order - Essay Example

Succeeding the steamed powered mechanization of industry and transport is the electrification of industry, transport and home. Electricity is seen to be a radical technology in three ways: “First, it was closely related to scientific activity, as no technology had been before…The second characteristic of electrical technology was its generic nature. An example of this generic nature is the fact that electric power was used as an input for a range of industries, as well as playing an important role in the emergence of the chemicals industry which introduced completely new products and processes of production.

Third, the generation of electricity used different inputs (steel and coal) from earlier technologies, thereby encouraging the growth of these sectors as well” (Simonetti,337-375). The rise of the two countries USA and Germany started in this revolution. “By the end of the nineteenth century, Britain had a well-developed educational system, a system of production based on family firms, a financial market developed around the financing of trade and large investments (joint-stock companies), a strong patent system, and an empire of colonies that could serve as markets for its growing industry.

The leading sectors of the economy consisted of a range of consumer goods industries, notably, textiles, metalware, paper, food, watches, and some producer goods industries such as shipbuilding and textile machinery. Its industrialization and urbanization had begun before the emergence of the railroads” (Simonetti, 347). “ “However, the situation was quite different in the USA and Germany. Following the completion of the Union after the American Civil War (1861) and the unification of Germany (1871), both economies had large domestic markets.

In both cases, railroad investments were made to connect the different parts of the country, and both economies enjoyed the benefits of a continent-wide system of transportation by the late nineteenth century. Moreover, large-scale investment in railways gave rise to new financial institutions and forms of corporate finance” (Simonetti, 347)