THE INDUSTRIAL REVOLUTION AND URBANIZATION Lia Rodriguez, Suman Kandel, and Jeyein Cepillo
Origin - The first industrial revolution began in Britain in the 1700s -Second in the US (1860s)
What is it ? -A period in which agrarian rural societies in America became further industrialized -Known as the Second Industrial Revolution (technological revolution)
Limited Liability - Limited liability bank: A stockholder could only lose his/her original investment in the bank's common stock - Attracted shareholders because of reduced risk - Were able to mobilize impressive resources for investment in big industrial companies.
Rockefeller (Oil) Rockefeller bought out partnered oil companies Established standard oil - Became a monopoly - Made him a target for the media
Vanderbilt (Railroads) -1860s, he shifted his focus to the railroad industry -Was one of the country’s largest steamship operators -Built another empire -helped make railroad transportation more efficient
Bessemer Steel Process -The first method discovered for mass-producing - Volume of low-cost steel in Britain and the United States soon revolutionized building construction.
Carnegie Steel -1870’s founded first company formed Carnegie Steel Company labor strike at homestead, Pennsylvania
Thomas Edison ● Born in 1847 ● Businessman and inventor ● The electrographic vote recorder ● Phonograph ● Electric Light bulb
Electric light Bulb ● Did not invent it ● Created one that lasted longer time ● Invented electric utility system
Alexander Graham Bell ● Born in 1847 ● Worked with Thomas Watson ● Invented telephone ● March 10, 1876 ● “Mr. Watson, come here. I want you!”
Wright Brothers ● Wilbur Wright (1867) ● Orville Wright (1871) ● First Airplane Lasted for 12 seconds and covered 12 seconds
Henry Ford ● Born in 1863 ● Ford Model T (1903) ● Ford Motor Company ● Assembly-line Manufacturing
Assembly-Line Manufacturing -To lower the cost of the Model T Car, Ford had to increase productivity -Thus, 29 men were separated into 29 different functions
Waterwheels -A Source of Energy that Stimulated Production -Utilized an abundant natural resource -Forced Factories to be built along riverbeds
Steam Engine
Laissez-Faire Capitalism and Special Considerations -“Hands off Economy” -No Government Interference -Separation of the Economy and the State
The Increasing Labor Supply (From Immigration and Migration from Farms) -Transition to Industry (1860s) -Incorporated Immigrants into the Work Force -Due to High demand, Immigrant Migration flourished toward Job Opportunities
Working Conditions -Employers could set low wages hour work periods -Women received 1/3 the pay of their male counterparts -Child Labor -Safety issues
America’s Possession of a Wealth of Natural Resources and Navigable Rivers -Abundance of steel, timber, water, Coal, Iron, Ore, and Oil -The Mississippi river was highly utilized -Chesapeake bay
Major Influences of the Industrial Revolution -Lifestyles changed in respect to Industrial Job Opportunities -Influenced Migration patters, allotment of Natural Resources, and Everyday Life
Class Activity (7 Minutes to Complete Assignment)
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