25.3-Spread of Industrialization and Growing Inequality Student Objectives Describe the birth of big businesses during the Industrial Age Analyze how the lives of rich differed from those of the poor during the Industrial Revolution Identify the effects of industrialization on the rest of the world.

Big Businesses & Corporations IR Spread to US Huge companies emerged Required lots of money to operate To raise money-sold stocks to ordinary people Birth of corporations Many corporations secured monopolies Control own industry by themselves No competition Often very unfair Increase in inequality Workers paid low wages Rich made fortunes through innovations and monopolies of IR What is a stock? Do you or your parents own stocks? Why is owning stocks often a good investment for ordinary people as well as businesses and corporations? What is a monopoly? Why are monopolies often unfair and what are dangers of them? How do you observe competition as a consumer in the United States?

IR Spreads in Europe Belgium Germany Iron & Coal & Waterways Inventions & Machines borrowed from Britain Germany “Pockets” on industry Copied British model Railroads to connect Industrial cities Industrial strength led to military strength France-industrialization but still strong agricultural economy Some did not industrialize Social structure, resources, geographical issues, etc. How important was it for countries that industrialized to borrow/copy from Britain? What are some reasons why some countries industrialized faster/better than others?

Effects of Industrialization Rise of inequality Industrialized countries became very rich Nonindustrialized countries sold raw materials to industrialized countries (poor) Use of colonies (imperialism) Transformation of Society “Product” revolutions across board Original issues with workers Would soon be solved by laws and reforms 1. Consider what we have discussed thus far, what are some examples of “product” revolutions?