Since they depended on honesty though their

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Unformatted text preview: 890s Ford experimented w/the internal combustion engine (i.e. car). But his biggest achievement was his manufacturing scheme – the mass-production of identical cars for mass consumption. Ford created the Ford Motor Company in 1903 and, by doing so, democratized the car. Du Pont Family – The DP’s applied Ford’s techniques to the chemical industry, resulting in 140 great innovations in plastics (1911) and new forms of efficient management. James Bonsack – Bonsack revitalized the tobacco industry by inventing a machine for rolling cigarettes in 1876. His invention was popularized by James B. Duke, owner of the American Tobacco Company. - These developments encouraged general optimism, even in the South, where mills began to use automatic looms [fewer skilled workers] and electric lighting [longer hours]. These mills, like Southern steel and iron manufacturing, were developed by Northern investors in the 1880s. But e/t the South was improving, it would not really emerge until after WWI. - Remember: new marketing techniques and new inventions went hand in hand. The key thing about the successful inventors was that they knew how to sell their stuff. The rise of the machine also led to changes in the economy that made large-scale production more profitable and desirable [economies of scale] and created a new focus on efficiency, as advocated by Frederick W. Taylor [efficiency = science]. *The Effect of the Machine on the Economy* - Industrialization implied that factories had to be large and operate at capacity to make profits; but they also had to sell, which meant prices had to remain low. To make this possible, businesses had to expand production and reduce wages. This required loans, and loans required more production, and so on. This cycle effectively wiped out small firms. 141 - Consequently, to deal with the constant uncertainly of the market conditions, businesses began centralizing to control their corners of the market. Some consolidating techniques included… Corporations: Under corporation laws...
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This note was uploaded on 04/02/2014 for the course APUSH AP United taught by Professor Orban during the Fall '10 term at Harrison High School, Harrison.

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