An American sociologists and writer once said, "Technology like art is a soaring exercise of the human imagination," by Daniel Bell. The modern period was a time of economic change, and it happened from 1750 to 1914. The modern period was at the same time as the industrial revolution, so during that period while there were advancements in machinery, there were also advancements in the economy. This period was a turning point for the economy and caused it to change quite a bit. It changed the economy in ways such as production rates, the way families brought in money, technological advancements, and more trade. Even though the modern period was a time of change, you could even argue that it was also a time of continuity in ways such as colonization. …show more content…
Source 7 demonstrates a graph showing the gross domestic product in France, Germany, China, and Brazil. In France and Germany, the gross domestic product value shot way up at the start of the modern period, but China and Brazil stayed about the same during the time. With the modern period coming to play we can clearly see how production and production value had increased and changed since places like Brazil that were much farther away and did not have all the same advancements and technology did not have the same gross domestic product increase as the places that were involved in the modern period. Another example is that the way families brought in money has changed. Before the modern period, families could have their children work with small …show more content…
Advances in technology such as trains, steamboats, and other machinery/equipment display the extent of the economic change during that time. In source 2, the value of machinery and equipment is shown in a graph. The graph shows how as time went on, machines increased in value. In the U.S., the value of machines was about 873 million dollars but by 1913 it was 268,359 million dollars (about $830 per person in the US). This exhibits how technology shows economic change in the modern period because as the machines became more advanced, they became better at putting out products quickly which helped the economy. To continue, another illustration of the modern period's extent of economic change is in trade. In source 4 it states,” Its value can hardly be overestimated among such people as the Waganda, both on account of their natural aptitude and their eager desire to learn. Even the less advanced and more primitive tribes may benefit equally,” British Colonial Administrator Capt. F. D. Lugard, The Rise of Our East African Empire, 1893). This reveals how far the economy has changed because they used other places and traded information to help expand the