How did the Transportation Revolution create the foundations for the modern global economy? Please, the answer...

How did the Transportation Revolution create the foundations for the modern global economy? Please, the answer should be detailed.

Expert Solution

Thus the Transportation Revolution provided the impetus to the modern global economy. With rising trade among people within the US, the economy started to grow (although there were ups and downs due to the laissez-faire government). The connection with the foreign world became more rapid as now the country can take the advantage of comparative advantage. This provided a new market for the Colonial Britain, Spain amd France to trade slaves, spices, cotton, jute, fibre and other raw materials from Indian Subcontinent and Africa to the Caribbean and US. This also led to the immigration of workers and labour force and in some way a first hint of globalised world started to emerge.

Rahul Sunny answered 2 years ago

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