Did y’all know this about Labor Day?? Really neat perspectives from a bloggish buddy!
The industrial revolution changed the world. One thousand years ago, Chinese technology created a new and better version of steel. Over the centuries that recipe spread, until it reached the British Isles, where iron and coal were abundant and were near each other, and where transportation by water made it easy to distribute what was manufactured. Labor-saving devices such as mechanical spinners and looms allowed increased production, and what happened in Britain began to happen in other European countries, in North America, and eventually throughout the world.
Capitalism had already begun to develop in medieval Europe. Workers formed guilds which controlled each craft, putting the power of production into the hands of workers. Along with the guilds came financial leagues which led to modern banking and a new financial system. With the industrial revolution came a new form of capitalism. Only those who had access to wealth could buy the…
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