Industrialization 1700-1800’s Industry/business started in England, factories create thread, cloth and clothes (textiles). New inventions build off each other, machines spread to other industries. Steam engine powers life, then electricity Transportation improves (railroads, steamboats, cars) Industrialization spreads to Germany, and US (after the 1860’s), people move to the cities, living and working conditions worsen, then improve

Market Revolution- buy/ sell goods instead of making them Free enterprise- individuals, private business make products (control the means of production) Entrepreneurs- invest own money in business Industry Expands- US #1 by 1900 Natural Resources- Iron ore, Coal, Oil- steam engine drill 1890, kerosene, gasoline Steel- Bessemer process- make steel efficient/cheap, strong Steel changes construction- bridges, railroad tracks, skyscrapers

Inventions/ Transportation/ Communication 1800’s-previous- cotton gin & bring inventions from England Early- mid 1800s Telegraph- Morse - communication over long distances Canals- Steamboats- move goods faster, up/down river Farm equipment- steel plow, reaper, barb wire Sewing machine- 1846 Late 1800s Electricity- Edison- light bulb, power plants Westinghouse- appliances Telephone- Bell- 1915- coast to coast service Typewriter- 1873

Work and Life changes People move to cities, become consumers- advertising More women enter work force- Lowell textile mills, sewing machines, Work Changes 1700’s- skilled workers, small shops 1820’s- beyond- unskilled workers, factories-mass production of goods- work conditions get worse, strikes break out 1900- office/ professional jobs grow- jobs for women, clerical work, work conditions improve New recreation, phonograph, bicycle Standard of life rises

Railroads - link the nation, move goods faster, efficiently 1830- 1st from Britain 1856- to Mississippi River 1869- transcontinental railway 1870- time zones created 1890-200,000 miles of track thousands travel west, towns appear along rail lines Built by thousands- African Americans, immigrants- Chinese, Irish , Hard dangerous work, little pay

Railroad abuses price fixing- overcharge farmers/ ranchers to ship products- govt regulates business Pullman- sleeper cars, town for employees, strict control- rules, store prices, rents Credit Mobilier- stock holders of Union Pacific- steal money through construction co, charge more pocket extra $ The Grange- political action, laws for protection, fight over regulation, losing battle- ICC- Interstate commerce commission- 1887- try to regulate/ fails 1893 Bankruptcy creates economic collapse

Big Business Corporation- sell shares- pieces of co. vertical integration- control every stage of manufacturing process horizontal consolidation- buy out competitors lassiez faire- no govt. regulation oligopoly- only a few companies control market monopoly- one company controls market Holding co- by shares in other companies Trusts- several large companies join to eliminate competition (price fixing) Huge profits for owners- Workers low wages, poor conditions Big Business Often controls govt- large loans to business, no/ little regulation, high tarriffs, open immigration Side note- South still hurt from Civil war- industry focused in North, lack of towns, resources, capital

Business Tycoons Andrew Carnegie- Steel Starts with stock investment good management- always make better products cheaper, hire top workers- John Rockefeller- Standard Oil- 1860s-70s trusts- join competing companies as 1 corporation- 90% oil production, control railroads JP Morgan- Banking industry Cornelius Vanderbilt- steamships, trade, railroad empire Social Darwinism- survival of most capable, poor are lazy/inferior Horatio Alger, rags to riches- writer Gospel of Wealth by Carnegie- donations to worthy causes