Chapter 5.1 The Rise of Industry
Chapter 5.1 The Rise of Industry After the Civil War The U.S. became an industrial Nation “Gross National Product”- The value of all goods and services a country produces The U.S. has an abundance of raw materials The U.S. has an abundance of people
Chapter 5.1 The Rise of Industry New Inventions that changed society: Telephone- Alexander Graham Bell Light bulb, Battery, Motion Picture, General Electric, -Thomas Edison at Menlo Park Air break, Alternating Current- George Westinghouse
Chapter 5.1 The Rise of Industry Free Enterprise System- anyone can start a business “Laissez-Faire”- Let the people do as they choose, government should not interfere with business “Entrepreneurs” people who risk money to open a business Tariff- a tax on imported goods