History of Global Market Integration

Global market integration can be recognized as the patterns and similarities interconnectedness of the different markets location around the world. It can be linked to the agricultural revolution and the industrial revolution.  1. The first big economic change was the Agricultural Revolution (Pomeranz, 2000).  ▪︎ when people learned how to domesticate plants and animals, they realized that it was more productive than hunter-gatherer societies 2. The second major economic revolution is the Industrial Revolution of the 1800s.  ▪︎ with the rise of industry came new economic tools, like steam engines, manufacturing, and mass production. Every economic revolution comes with economic casualties. As a result, nineteenth - century industrialist were known as a robber baron – with more productivity came greater wealth, but also greater economic inequality. In the late nineteenth-century, labor unions began to form. These organizations of workers sought to improve wages and working...