Economics/Politics Portfolio on Various Economic and Political

¶ … Economics/Politics

Portfolio on Various Economic and Political Concepts

The Industrial Revolution

What was Changed by the Industrial Revolution

How the Revolution Changed the Economy

Examples from Past and Present (1900's & today)

The Industrial Revolution, a multi-decade event that took place in the 19th century (1820-approx. 1870), completely transformed the way goods were produced across two continents. Prior to its start, which took place in the UK, and its continuation, especially focused in Germany and the U.S., most goods were produced by hand, at home.

The revolution, however, mechanized production processes and introduced machines and factories that, inevitably, improved and increased production. Yet this could not have been achieved without various inventions, such as the cotton gin and other weaving machines, or water powered machines (i.e. trains), many of which propelled countries, and especially the American economy, forward in a unique and successful way.

Prior to the Industrial Revolution, American society in particular was very pastoral, and very much home based. Even in big cities, where trade was often omnipresent through the comings and goings of ships, there were many inefficiencies, and business was almost always conducted from a local perspective, with a handful of employees.

Once the revolution took place and introduced machines and other mechanized processes, businessmen had not only better products to sell, especially in the manufacturing industry, but also products that were more easily produced by a larger workforce, and which could be more easily carried across a country such as the U.S. Or traded between countries. It was because of this singular event in human history that countries such as the U.S., UK and Germany are the forefront runners of the world economy today.

An example of how the revolution changed the processes of the past, especially in the 1900's, can be seen by its mechanization of the manufacturing process, especially in relation to clothing and, later, automobiles. It was because of the Industrial Revolution that the latter facet especially was introduced, evolved, and aids life in so many ways today.

It would not have been possible for Henry Ford, for instance, to put in place his highly mechanized, factory-based process, and construct such a strong, lasting industry, without the revolution. Even today, looking at this example (cars) and others (i.e. The evolution of technology), one can see that the industrial revolution has kick started many positive innovations and ideas, some of which would never have taken place without this fantastic period in Western history.

Defining Revolution and Terrorism

This section will first provide three definitions for both concepts of revolution and terrorism, and will subsequently analyze these concepts in turn, as well as offer personal understandings of these ideas. First, there are three main ways in which to define revolution. The first is offered by the Free Online Dictionary, and states that revolution means a change or an "overthrow or repudiation and the thorough replacement of an established government or political system by the people governed" or a radical and pervasive change in the strata of society.

A similar definition is provided by the Merriam-Webster dictionary and states that revolution signifies a sudden, fundamental and, many times, radical change, whether political, social or economic.

A third definition states that revolution is "a total or radical change; as, a revolution in one's circumstances or way of living" or "a fundamental change in political organization, or in a government or constitution; the overthrow or renunciation of one government, and the substitution of another, by the governed."

Terrorism can be defined, in turn, as "the use of violence and threats to intimidate or coerce, especially for political purposes," or as a method through which to resist a government.

Another definition for this concept states that terrorism is a means, often violent, of coercion.

A third definition of terrorism states that, under U.S. Law, terrorism means "premeditated, politically motivated violence perpetrated against noncombatant targets by subnational groups or clandestine agents."

In order to demonstrate understanding of the above concepts, the definitions for each may be simplified to mean the following:

1) revolution -- an act of mobilizing change in society, whether it be social, political or economic, and

2) terrorism -- an act perpetrated by a non-state actor to intimidate and cause disorder, often premeditated.

By these personal definitions, revolution is something positive, whereas terrorism is something negative, yet in the latter case positive is not always a characteristic, and revolutions may, in fact, often be negative. A revolution, however, through American history has often been positive, and most recently, one has seen revolutions all across the Middle East, through which individuals are able to change lives and create a better society. Terrorism, however, best exemplified by the September 11 attacks on this country, is always negative, as it always brings suffering to a population.

Global Economic Systems

The world is a fascinating place, and its multitude of different cultures make it a very interesting place to study, both from an economic and a political viewpoint. This section will thus describe various global economic systems, to better understand ways in which the world governs itself, and the next section will understand an examination of global political systems.

As mentioned above, there are many various economic systems across the globe. They range from protectionist, to liberalized, to trade based, and so forth. Many of these systems have similar characteristics, and many are utilizing in a country because of the unique things that country has to offer, whether it be raw materials, workforce, means of productions, etc. Three of the most prominent examples of global economic systems include: the capitalist system, the socialist system, or a mix of the two. These systems signify a free market and creativity-based system, a planned or government-conducted system, or a mix between protectionist and capitalist enterprises, respectively.

The similarities here are that each system has at heart the interest of creating a stable society. The differences, however, are extensive. A free market, capitalist system, will often place a business at the core of everything, as well as profit, which would reign supreme. Furthermore, it would advocate a free trade, or liberalized economy in order to increase profits by building relationships with other countries. A socialist system would, instead, focus on the country and the ways in which a nation could sustain itself, and would be government controlled and population focused, with little trade. A mix of the two would be ideal, especially for developing countries, which could open themselves up for trade, thereby helping their economies grow, while retaining control over certain industries and over the well-being of the population (i.e. through a socialist network of healthcare, etc.).