western_civ_3 - Why Second Industrial Revolution The...

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Why Second Industrial Revolution The Corporation o Evolution of the Joint-Stock Company o Low risk, high reward o Limited Liability Horizontal Integration o Corporate Cooperation Where multiple companies work together so they can fix prices o Price-Fixing Companies choose how much to charge for a certain item Vertical Integration o Monopolistic o Own all Production Steps So you can set price at every step o Fix Prices Charge for how much you want to cost o Eliminate Competition Undercut or oversell o Andrew Carnegie “Taylorism” o Mass Production Theme of industry o Workflows o Minimize “downtime” o Maximize “uptime” Reduce people moving around, taking breaks, weird tasks
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o Repetitive Tasks Efficient Rather hire 3 people for 3 jobs rather than 1 person for 3 jobs Biology (1860-1900) o Louis Pasteur Microbiology Vaccination Germ Theory o Rudolf Virchow Cell Theory Chemistry o German, British o Soaps, Dyes, Fertilizer, Synthetics o Medicine o Affected all other Fields Artificial Dyes o Sumptuary Laws Who can wear what clothing o Pre-Industrial Dyes: Wood, Animal Skins, Fruits, Seeds
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This note was uploaded on 07/18/2011 for the course HIST 2003 taught by Professor ? during the Spring '11 term at Arkansas.

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western_civ_3 - Why Second Industrial Revolution The...

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