What led to the pricing of progress in the mid-19th century was capitalism.
Capitalism is not just the existence of markets. It is also capitalised investment, where elements of society and life - including natural resources, technological discoveries, works of art, urban spaces, educational institutions, and people - are changed or "capitalised" into income-generating assets that are valued by their ability to make money and yield future returns.
The average Chinese person had increased growth in their income level as the economy expanded.
The economy grew due to new technological and agricultural advances and efficient trade routes.
The era saw an increase in international trade, as Chinese merchants expanded their trade networks up to East Africa. Using paper money helped motivate people to deal with larger transactions than before.
During a visit in the 13th century CE, Italian explorer Marco Polo described Hangzhou as the most magnificent city in the world.
Hangzhou has been an important city since the 7th century CE, when its Grand Canal was built to connect the urban centre to Beijing. It is the world's longest artificial river.
Woodblock printing developed in Buddhist monasteries to reproduce spiritual texts. During the Song era, it was widely adopted for non-religious purposes and supercharged intellectual life in the Song dynasty.
Hangzhou was a place of great creativity. In the 11th century CE, polymath Shen Kuo (1031 - 1095 CE) invented the magnetic compass, drew the world's first topographical map, and recorded the process of sedimentation.
Other technological breakthroughs includes the compass, the first mechanical clocks, and the invention of forensic science.
The economic and technological advancements of the Song era translated into improving living conditions for the average person.
What was the Great Depression, why did it happen, and how long did it last? BBC History Revealed explores the decade-long economic downturn that began in the US in the aftermath of the Wall Street Crash and spread around the world
On 29th October 1929, the infamous crash of Wall Street happened, where 30 million dollars were lost in a week, leading to customers rushing to withdraw their money, known as the ‘bank run’.
The entire world felt the capitalistic fall and realized that a boom leads to a bust, eventually. The disastrous effects felt around the world showed how economically interconnected the world had become.
Challenges to voting rights in this country, like the ones we've seen recently, are hardly a 21st-century invention. Entrenched groups have long tried to keep the vote out of the hands of the less powerful. Indeed, America began its great democratic experiment in the late 1700s by granting the right to vote to a narrow subset of society - white male landowners.
Even though during the Reconstruction period, after the Civil War, individuals were supposed to be allowed to vote no matter their race, in the following decades many Southern states, by means of poll taxes or literacy tests, would still limit the right to vote of the African American men.