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INDUSTRIAL REVOLUTION - Coggle Diagram
INDUSTRIAL REVOLUTION
THE ORIGINAL ACUMULATION
The entry into Europe of huge amounts of precious metals from America was called "the accumulation originating ", that is, the growth of capital available for the development of capitalism.
Among that group of merchants and bankers irrigated by Western Europe, entrepreneurs emerged that, an economist Austrian-American (1883-1950), are the individuals that assume economic risks not personal
PROTESTAN REFORMATION
In this process, the German Martin Luther (1483-1546) had a leading role.
He questioned the papacy and corruption in Rome for the practice of selling indulgences, while, as he claimed, salvation depends only on the grace of God and not on any forgiveness of men.
This religious phenomenon drastically changed society and deepened the practice of frugality and saving, along with the conviction that economic success was good and even a sign of divine blessing.
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IRON, STEAM AND MACHINE
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Since 1733 the loom had been mechanized. The first step was the flying shuttle, patented that year by British inventor John Kay, which greatly increased the fabric speed.
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