Since the early 1800’s, communication has continued to change, develop and evolve.
The rapid development of technology has truly revolutionized our world over the past two centuries. Thanks to these advancements, it is now possible to disseminate information to a wider global network with speed and ease. Gone are the days of messengers delivering the post on horseback!
The Transportation boom – The construction of the canals and railroads – What did they offer?
• The American railroad system – offered speed (Insert quote from the textbook), as well as the ability to import and export raw materials and manufactured goods
• Canal building projects (in particular, the Erie Canal in New York) connected different bodies of water, which bolstered
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Employers now have the ability to connect with their employees and associates around the world. The internet offers instant communication (Skype, email, and instant messaging) in a matter of seconds, we are virtually connected. Information is transported a at a more rapid pace.
• More affordable means of doing business
W. Michael Blumenthal, author of the article The World Economy and Technological Change, asserts the impact communication and transportation has had on our society, “our capability to establish virtually instantaneous worldwide electronic links, combined with the technology of television satellites and jet transportation, has revolutionized how we live, where we go and what we do.”
2nd part of the question: Advances in communication have definitely affected the global economy.
• Speed means more business.
• There is a constant need to change and adapt, as new technologies are developed.
• Businesses/Large corporations competing with each other to keep up with the supply and demand (don’t know if this is the right
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Technological innovations will continue to change how we live and how we do business in the future. While new technology continues to evolve, we must not forget about the past technologies, as our society still benefits from these earlier inventions.
(i.e. Alexander Graham Bell and the telephone)
Bibliography
Blumenthal, W. Michael. "The World Economy and Technological Change." Foreign Affairs. January 28, 2009. Accessed December 3, 2015. https://www.foreignaffairs.com/articles/1988-02-01/world-economy-and-technological-change.
"Industrialization and Reform (1870-1916)." History of the United States. Accessed December 3, 2015. http://www.theusaonline.com/history/industrialization.htm.
Kose, M. Ayhan, and Ezgi O. Ozturk. "A World of Change: Taking Stock of the past Half Century." IMF. September 1, 2014. Accessed December 3, 2015.