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second industrial revolution (1870-1914 (think start of ww1))
transition from coal/steam → electricity ⚡, gas, oil
greater distribution of wealth
class system appearing (upper, upper middle, lower middle, working)
during ind. rev, commerce went from decentralized to CENTRALIZED.
Decentralized
CUSTOM goods
BARTERING
defined social class
SLOW FASHION cycle
centralized
MASS PRODUCED goods
TECHNOLOGY
SOCIAL MOBILITY
FAST FASHION cycles
Capitalism
socio-economic classes (if you had a high wealth, your status was high as well) (status and amount of money you made are interlinked)
rights of individuals and corps
private production
supply & demand determined by market economy (FREE market)
socialism
Karl Marx
equal wealth distribution
socio-economic equality (your social status was not determined by how much money you made)(social status and money not interlinked)
state control production
central economies (USSR)
consumerism
the idea that people should buy and own more than what they need to survive. industrial revolution led to this.
rationing of textiles, food, metal
What specific side effect of WWII affected consumerism?
industrial revolution
the transition to new manufacturing processes in Europe and U.S.