Countries like Brazil, Argentina and Mexico have waited almost a hundred years to start the process of industrialization and development of techniques, this delay is called late industrialization, given that the first Revolution took place in England at the end of the 18th century, beginning of the XIX century.
A lot changed after the first Industrial Revolution, there was an evolution in techniques, which favored the development and gave rise to the current period, which is called the third Industrial Revolution (technical, scientific, informational); and an increase in the means of communication, which accelerated the globalization process.
The role of capital in the globalized economy
Productive Capital: Long-term investments, capital invested in the production chain, such as construction of industries and factories.
Speculative Capital: Generation of short-term profits, this capital is intended for investment in stock exchanges, trading in shares, buying and selling foreign exchange (currencies) and buying public debt securities.
This type of investment is widely practiced nowadays because of the means of communication, which have reduced distances; today it is possible to check the best investment markets through the internet, television and newspapers.
the transnationals
They are large companies or business groups that operate outside their country of origin, and that have expanded their capital flows, in addition to acting decisively in the fragile economies where they are installed.
Transformations in the production system
Fordism: Industrial production practice, created by Henry Ford, who adopted a production system where the worker remained stationary and the product moved on a conveyor belt, this procedure was intended to reduce production time and increase productivity.
new working relationships
Unemployment has led to a new branch of activity called the informal sector. Informal workers are those who, unemployed, work informally, such as car washers and guards, day laborers, street vendors, etc. This activity is also called underemployment or disguised unemployment, as workers do not have the right to 13th salary, vacation, unemployment insurance, retirement and all other rights provided for by the Constitution Federal.
Do not stop now... There's more after the advertising ;)
By Eduardo de Freitas
Graduated in Geography
Brazil School Team
General geography - geography - Brazil School
Would you like to reference this text in a school or academic work? Look:
FREITAS, Eduardo de. "The development of techniques and globalization"; Brazil School. Available in: https://brasilescola.uol.com.br/geografia/o-desenvolvimento-das-tecnicas-globalizacao.htm. Accessed on June 27, 2021.
