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The Development of Modern World History in Economy, Marco Polo's…
The Development of Modern World History
in Economy
1940—1510
1510—1760
1760—1840
1840—1860
The monopoly of capitalism
The second industrial revolution
After 1870, all kinds of new technologies and inventions emerged one after another and were applied in various fields of industrial production, which promoted the further development of economy. The second industrial revolution emerged vigorously and mankind entered the electric age.
The second industrial revolution promoted the rapid development of productive forces and brought about earthshaking changes in society. The situation that west was advanced while the east was backward was formed.
In the 1980s Germans such as Karl Friedrich Benz succeeded in building cars powered by internal combustion engines.
In 1866, a German named Siemens built the generator.
The industrialization of capitalism
The first industrial revolution
In the 1760s, in the capitalist production in Britain, big machine production began to replace the factory handicraft industry, and the productivity developed unprecedentedly. The process is known in history as the "industrial revolution".
The industrial revolution greatly strengthened the links between different parts of the world, accelerated world economic development, and established the dominance of the capitalist over the world. Britain, the first country to complete the industrial revolution, became the world's dominant power.
In 1765, the weavers Hargreaves invented the "Jenny loom", which opened the prelude of the industrial revolution.
In 1785, Watt's improved steam engine was put into use, providing a more convenient power.
The industrial revolution greatly promoted the development of capitalist economy and natural science research. Capital accumulation and market demand reached a higher level.
The primitive accumulation of capitalism
Early colonial expansion
The colonial rulers plundered a great deal of wealth from the colonies and converted it into capital in Europe.
In 1588, Britain defeated the Armada of Spain, the leading colonial power, and began to establish maritime hegemony and actively colonized overseas. World domination of Britain was established in the second half of the 18th century.
It accelerated the development of European capitalism and provided capital and market for the coming industrial revolution.
In the early 17th century, France colonized North America, mainly establishing New France and Louisiana.
The birth of capitalism
The opening of new sea-route
European fleets appeared in oceans around the world, searching for new trade routes and trading partners to develop Europe's nascent capitalism.
It made the world become a whole, promoted the primitive accumulation of capital and the spread of species all over the world, and strengthened the links between continents.
The wealth accumulated by overseas trade inspired European colonization of the Americas and Asia.
Zheng He made seven voyages to the western seas to explore south and southeast Asia.
In 1498 Vasco da Gama, aided by a Muslim navigator familiar with the monsoons of the western Indian Ocean, discovered a new route to India, making the Silk Road overland no longer the only route to eastern markets.
Marco Polo's exploration of Eurasia and his book The Travels of Marco Polo.
In 1600, British merchants formed the East India Company and began to rule India.
