Lect. 2-1 - 1) Industrial Capitalism a) Discuss the factors...

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1) Industrial Capitalism a) Discuss the factors that contributed to the rapid industrialization of America during the late 19th and early 20th century. 2) Factors Contributing to Industrial Growth a) Abundance of Raw Materials b) Technological Advances c) Population Patterns d) Rise of Mass Consumption e) New Ways of Running Businesses f) A Favorable Business Climate 3) Raw Materials a) Iron Ore i) Main ingredient for steel b) Coal c) Oil i) Used for lamps (kerosene) and lubricating machinery in factories 4) Technological Innovations a) Steel Making i) US became one of the largest producers of steel in the world (1) Ended up shipping to other nations, as well as supplying ourselves i) Titusville, PA – 1859 ii) Used for lamp oil c) Communications i) Telegraphs all over the nation ii) Typewriters iii) Telephones d) Electricity i) “Battle of the Currents” (1) Thomas Edison (DC) – “Wizard of Menlo Park” (a) Hired scientists who worked for him, he would patent the inventions and then make $ as the “inventor” of these products (2) George Westinghouse (AC) ii) Edison developed the electric chair to show just how dangerous the AC electricity could be (1) He wanted to make $, as opposed to Westinghouse’s AC current iii) Westinghouse won e) Transportation i) Railroads ii) Cable Cars (trolley things) 5) Population Patterns a) Expansion of wage-earning labor force i) As industry grows, more jobs become available b) Rise of American mass market
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i) More people buying all their products, as opposed to making their own clothes/ growing their own foods c) Urbanization d) Transportation 6) Rise of Mass Consumption a) Population Growth b) Incomes rising c) Affordable Products i) Produced more efficiently = cheaper goods d) New Merchandising Techniques i)
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This note was uploaded on 06/01/2009 for the course HIST 1320 taught by Professor Murphy during the Spring '08 term at Texas State.

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Lect. 2-1 - 1) Industrial Capitalism a) Discuss the factors...

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