Economic History

In: Historical Events

Submitted By pipaxia
Words 562
Pages 3
Inês Rodrigues 2nd Semester 2011/2012

Written Essay – Economic History “The most important outcome of the catch-­‐up of more nations is a more fierce international competition in industries which are capital-­‐intensive and increasingly knowledge-­‐intensive.” Can you present nineteenth-­‐century examples and actors, to illustrate this affirmation? The development of capital-­‐intensive and knowledge-­‐intensive industries and the large industrial enterprise in driving technological change and in playing a critical role in the catch-­‐up process in these industries was a global as well as an American phenomenon. Historically we can see that large firms worldwide clustered in the same capital-­‐intensive industry groups. And also their location remained remarkably stable. Before the nineteenth century, Europe presented low rates of growth and low values of GDP per capita. Although during the nineteenth-­‐century, we saw German and American large industrial firms investing on a large scale in physical and human capital and emerging scale-­‐intensive technology in new industries. Even after the World War II, they continued to…...

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