Industrial Revolution

Words: 1179
Pages: 5

Throughout history a country’s economic development has depended on technology. For example, Eli Whitney invented the cotton gin in 1974 which to the increased production of cotton in the southern United States. In turn, new technology, such as steam powered boats and railroads, was invented to move the cash crop. Additionally, telecommunications, such as the telegraph, improved the way shipments were organized and tracked. Ultimately, this fusion of raw materials and technology led to the Industrial Revolution. The United States is not the only country that has seen telecommunications improve infrastructure. Batuo (2015) discussed how over the past two decades “telecommunications infrastructure is related to economic growth in a panel …show more content…
Phase One took place at the turn of the 19th and 20th centuries when global trade and investments spread due to the invention of the steamship, telephone, and the conveyer belt. Through these new technologies, countries were now able to interact on a global scale. This continued until World War I ended the global sharing of communications, information, and economics (p.7). Phase Two began in the late 1970’s when advancements in information technology and telecommunications ushered in the digital era. Developments like the Global Positioning System (GPS) allowed airplanes to transverse the globe. In turn, this brought people, products, and cultures together. Also, innovations like computers, the internet, telephones, optic cables, and radio signals have lowered the cost of transferring information, thus increasing economic growth across the globe …show more content…
An article by Rutherford (2005) described how the advancement of global telecommunications systems has lead to the interconnectivity of major world cities. These interconnected major world cities, along with their developed infrastructures, function like “command points for organization of the world economy” (p.2390) This can be seen in the fact that major world cities are hosts to many multinational corporations. The new norm is that work is being done on a global level by these corporations with offices and firms located all over the globe, and the services provided by these major world cities is the source of their economic