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Economic Impacts of the Industrial Revolution

  • Adam Smith

    Adam Smith

    He is known for his economic theories. He created the first comprehensive system of political economy. He also created the idea of an invisible hand which is the tendency of free markets t handle themselves by looking at competition, supply and demand, and self-interest. This gave people an idea of how things should work.
  • Karl Marx

    Karl Marx

    He created the Communist Manifesto which talks about communism and growth. He had political and philosophical thought had huge influence on political and economic history.
  • Sanford and James Dole

    Sanford and James Dole

    Sanford Dole was the first president of the Republic of Hawaii which happens later on. James Dole created the Hawaiian Pineapple Company which is now Dole. They are a huge company which impacted economies.
  • HSBC

    HSBC

    HSBC came from the idea of a bank that serves international needs. They opened their doors and they helped finance trade between Europe and Asia which helped out economic relations.
  • Standard Oil

    Standard Oil

    It was an American oil-producing and marketing company. It was the largest oil refiner at the time. Because of this, more inventions and innovations would be created and later put into use.
  • DeBeers Diamonds and Cecil Rhodes

    DeBeers Diamonds and Cecil Rhodes

    Cecil Rhodes was a buissnessman and politician. He founded the Debeers Diamonds company which controlled global trade for a large period of time. They were huge in the diamond market and because of their huge presence, they greatly impacted economies and trade.
  • United Fruit Company

    United Fruit Company

    It was founded by mergers of the Boston Fruit Company and a ton of other companies. They took control of over 90% of the banana import business in the US and Europe and they took over competitors in Central America which gave them huge dominance in that industry.
  • Henry Ford

    Henry Ford

    Ford founded the Ford Motor Company. He was an industrialist and business magnate. His automobile inventions revolutionized the industry and transportation. He became one of the most well known and richest people ever.
  • Unilever

    Unilever

    Margarine Unie and Lever Brothers sign an agreement to create Unilever. They tried to get out of each others interests of margarine and soap production but they decided to have an amalgamation instead. They took most of the raw material supply which negatively impacted the economy.