ABSTRACT

The industrial revolution effectively caused the modern version of globalization. In turn, globalization, particularly since the mid-twentieth century, has reshaped the industrial experience in many ways. The two basic features of the industrial revolution—technology and organization—extended their worldwide impact after 1945. International technology included routine air travel that enabled business leaders and technical experts to meet regularly and thus form something of an international community in their fields, across political and ideological boundaries. The explosion of multinationals and their increasing ability to operate a variety of economic activities, from resource extraction to capital transfers, in almost every part of the world constituted the clearest sign that the industrial revolution had entered a new, global phase after 1950. The process of globalization combined with the spread of industrial revolutions to new areas created growing similarities among many economies and societies—sometimes, despite very different political systems.