Lecture02b - The Rise of an Integrated The Rise of an...

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Unformatted text preview: The Rise of an Integrated The Rise of an Integrated National Economy, 1870-1900 National Economy, 1870-1900 Mass Markets, Industrial Concentration, Mass Markets, Industrial Concentration, and the Penetration of Island and the Penetration of Island Communities Communities Overview Overview Overview Overview The Railroad and the Rise of Mass Markets Overview Overview The Railroad and the Rise of Mass Markets The Pathologies of the Unregulated Market Overview Overview The Railroad and the Rise of Mass Markets The Pathologies of the Unregulated Market Pressures toward Economic Concentration: The Rise of Big Business Railroads and the Rise of Railroads and the Rise of Mass Markets Mass Markets The Railroad Integrates American economy into national and international markets. Perhaps the most important stimulus to industrial transformation of American economy, 1860-1914 X X X X 250,000 250,000 150,000 150,000 50,000 50,000 10,000 10,000 American Railroad Network, circa 1890 American Railroad Network, circa 1890 Railroads and the Rise of Railroads and the Rise of Mass Markets Mass Markets RRs facilitate the growth of national markets RRs dramatically lower the cost of production Railroads and the Rise of Railroads and the Rise of Mass Markets Mass Markets RRs facilitate the growth of national markets RRs dramatically lower the cost of production transportation costs fall Assess to new suppliers increases Competition between suppliers increases Railroads and the Rise of Railroads and the Rise of Mass Markets Mass Markets RRs facilitate the growth of national markets RRs dramatically lower the cost of production transportation costs fall Assess to new suppliers increases Competition between suppliers increases Lower prices broaden consumer base of economy More individuals can afford to purchase a range of consumer goods Facilitates emergence of mass markets Railroads and the Rise of Railroads and the Rise of Mass Markets Mass Markets Prior to RR, cost of overland transportation almost prohibitively expensive Railroads and the Rise of Railroads and the Rise of Mass Markets Mass Markets In three ways then, railroad reduced the cost of the overland distribution of goods Railroads and the Rise of...
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This note was uploaded on 04/02/2008 for the course POL SCI 147C taught by Professor James during the Winter '08 term at UCLA.

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Lecture02b - The Rise of an Integrated The Rise of an...

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