Mamu Ally
Jan 24
Analyse the forces behind the rise and eventually the collapse of legitimate trade in the 19c?
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Jan 24
The rise and eventual collapse of legitimate trade in the 19th century can be attributed to several key forces:
1. Industrial Revolution: The Industrial Revolution, which began in the late 18th century, led to significant advancements in technology, transportation, and manufacturing. This resulted in increased production and demand for goods, leading to the expansion of legitimate trade.
2. Colonialism and Imperialism: European powers, particularly Britain, France, and Germany, expanded their colonial empires during the 19th century. This allowed them to establish trade networks and exploit the resources of their colonies, leading to a surge in legitimate trade.
3. Abolition of the Transatlantic Slave Trade: The transatlantic slave trade was officially abolished by Britain and other European powers in the early 19th century. This led to a shift in labor patterns, as plantation owners turned to legitimate trade to sustain their economies.
4. Technological advancements in transportation: The development of steamships and railways during the 19th century revolutionized transportation, making it faster and more efficient. This facilitated the movement of goods across long distances, enabling the growth of legitimate trade.
5. Economic competition and protectionism: As legitimate trade expanded, European powers engaged in fierce economic competition to secure markets and resources. This led to the rise of protectionist policies, such as tariffs and trade barriers, which eventually hindered the growth of legitimate trade.
6. Political instability and conflicts: The 19th century witnessed numerous political upheavals, including revolutions, wars, and the collapse of empires. These events disrupted trade routes, damaged infrastructure, and created an uncertain business environment, leading to the eventual collapse of legitimate trade.
7. Rise of industrial capitalism: The rise of industrial capitalism in the 19th century led to the concentration of wealth and power in the hands of a few industrialists and financiers. This resulted in the exploitation of workers, unequal distribution of resources, and economic crises, which ultimately contributed to the collapse of legitimate trade.
Overall, the forces behind the rise and collapse of legitimate trade in the 19th century were interconnected and influenced by economic, political, and technological factors. While the rise of legitimate trade was driven by industrialization, colonialism, and technological advancements, its collapse was caused by protectionism, political instability, and the negative consequences of industrial capitalism.
1. Industrial Revolution: The Industrial Revolution, which began in the late 18th century, led to significant advancements in technology, transportation, and manufacturing. This resulted in increased production and demand for goods, leading to the expansion of legitimate trade.
2. Colonialism and Imperialism: European powers, particularly Britain, France, and Germany, expanded their colonial empires during the 19th century. This allowed them to establish trade networks and exploit the resources of their colonies, leading to a surge in legitimate trade.
3. Abolition of the Transatlantic Slave Trade: The transatlantic slave trade was officially abolished by Britain and other European powers in the early 19th century. This led to a shift in labor patterns, as plantation owners turned to legitimate trade to sustain their economies.
4. Technological advancements in transportation: The development of steamships and railways during the 19th century revolutionized transportation, making it faster and more efficient. This facilitated the movement of goods across long distances, enabling the growth of legitimate trade.
5. Economic competition and protectionism: As legitimate trade expanded, European powers engaged in fierce economic competition to secure markets and resources. This led to the rise of protectionist policies, such as tariffs and trade barriers, which eventually hindered the growth of legitimate trade.
6. Political instability and conflicts: The 19th century witnessed numerous political upheavals, including revolutions, wars, and the collapse of empires. These events disrupted trade routes, damaged infrastructure, and created an uncertain business environment, leading to the eventual collapse of legitimate trade.
7. Rise of industrial capitalism: The rise of industrial capitalism in the 19th century led to the concentration of wealth and power in the hands of a few industrialists and financiers. This resulted in the exploitation of workers, unequal distribution of resources, and economic crises, which ultimately contributed to the collapse of legitimate trade.
Overall, the forces behind the rise and collapse of legitimate trade in the 19th century were interconnected and influenced by economic, political, and technological factors. While the rise of legitimate trade was driven by industrialization, colonialism, and technological advancements, its collapse was caused by protectionism, political instability, and the negative consequences of industrial capitalism.
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