Industrialization Spreads

United States Has similar resources to Great Britain War of 1812 forced US to build industries Starts in the textile industry (fabrics, etc). Even though Britain forbids talk to the US about factories, Samuel Slater goes to the US and builds a spinning jenny from memory. From there it takes off and many businessmen use the machine to industrialized the US.

US Industrialization Young women leave rural (Farms) areas to go work in factories Closely watched 12hrs a day, 6 days a week, decent wages Sometimes better than being a servant, often only work open for them. Factories are prosperous in the Northeast.

Expansion of Industry Railroads Connects the nation & allows cities like Chicago and Minneapolis to expand rapidly. Towns pop up along railroad lines

Rise of Corporations Stock Corporation Certain rights of ownership A business owned by stockholders who share in its profits but are not personally responsible for its debts Can raise large amounts of money to invest in industrial equipment

Corporations Standard Oil John D. Rockefeller Seek to control every aspect of industry in order to make big profits $$ Big Business Giant corporations that controlled entire industries Can make profits by lowering prices too..

Continental Europe Industrializes Other European countries start to industrialize Belgium adopts British tech. They have lots of coal, which helps Germany also has lots of coal. 1835 the Germans start to copy the British. They send their children to school in Britain Build railroads Helps it become an industrial and military giant

Continental Europe Industrializes Bohemia develops a spinning industry Spain processed more cotton than Belgium Italy mechanizes textile industry Factories in Russia France grows after 1830, new French products created after 1850 when gov’t starts railroad building. Austria-Hungary can’t industrialize because of mountains 

Impact of Industrialization Wealth gap Huge gap between the rich and poor emerges. Factory owner and businessmen have way more money than the workers. Changes in society Better standards of living Longer life expectancies More wealth More Education More democracies