Age of Industry Section 2-22 Section 2 Lecture Notes 22 of 22 Click the mouse button or press the Space Bar to display the information. In 1807 Robert Fulton, an American inventor, designed the first practical steamboat. Industrial Developments (cont.) In 1801 British engineer Richard Trevithick devised a steam-powered carriage that ran on wheels, and three years later, a steam locomotive that ran on rails. 

Age of Industry Section 2-22 Section 2 Lecture Notes 22 of 22 Click the mouse button or press the Space Bar to display the information. Railroads and steamboats laid the foundations for a global economy and opened up new forms of investment. Industrial Developments (cont.)

Age of Industry Section 3-1 Section 3 Terms to Define industrial capitalism, interchangeable parts, division of labor, partnership, corporation, depression  Setting the Scene How did new technology advance the growth of industry? People to Meet Eli Whitney, Frederick Taylor, Henry Ford, Samuel Morse, Guglielmo Marconi, Alexander Graham Bell, Thomas Edison, Rudolf Diesel, Wilbur and Orville Wright  Click the mouse button or press the Space Bar to display the information. Additional lecture notes appear on the following slides. 1 of 21 The Growth of Industry

Age of Industry Section 3-2 Section 3 Lecture Notes 2 of 21 Click the mouse button or press the Space Bar to display the information. To maintain its position, Parliament passed laws restricting the flow of machines and skilled workers to other countries. Introduction By keeping spinning and other technologies secret, Great Britain had become the most productive country in the world. 

Age of Industry Section 3-2 Section 3 Lecture Notes 2 of 21 Click the mouse button or press the Space Bar to display the information. Nonetheless, by the late 1820s many mechanics and technicians had left Great Britain, carrying industrial knowledge with them. Introduction

Age of Industry Section 3-3 Section 3 Lecture Notes 3 of 21 Click the mouse button or press the Space Bar to display the information. Wealthy British industrialists saw that they could make money by spreading the Industrial Revolution to other countries. Spread of Industry As British workers left the country, Great Britain gave up trying to guard its industrial monopoly. 

Age of Industry Section 3-3 Section 3 Lecture Notes 3 of 21 Click the mouse button or press the Space Bar to display the information. These industrialists earned Great Britain the nickname “the workshop of the world.” Spread of Industry In many countries, the factory system did not boom until 1870 or later. The major exceptions were Germany, and the United States.

Age of Industry Section 3-4 Section 3 Lecture Notes 4 of 21 Click the mouse button or press the Space Bar to display the information. France’s industrialization was slow-paced because the Napoleonic Wars had strained the economy and depleted the workforce.  Government funding helped German industry to grow. In the 1840s strong coal, iron, and textile industries emerged. Spread of Industry (cont.)

Age of Industry Section 3-5 Section 3 Lecture Notes 5 of 21 Click the mouse button or press the Space Bar to display the information. By 1870 the United States ranked with Great Britain and Germany as one of the world’s three most industrialized countries. Spread of Industry (cont.) Industrialization increased in the United States, especially in the Northeast. British capital and machinery, combined with American mechanical skills, promoted new industry. 

Age of Industry Section 3-6 Section 3 Lecture Notes 6 of 21 Click the mouse button or press the Space Bar to display the information. Growth of Big Business A major factor in spurring industrial growth was capitalism. Capitalism, (the economic system in which individuals and private firms own the means of production–including land, machinery, and the workplace).

Age of Industry Section 3-7 Section 3 Lecture Notes 7 of 21 Click the mouse button or press the Space Bar to display the information. Industrialists practiced industrial capitalism, which involved continually expanding factories or investing in new businesses. Growth of Big Business (cont.) In a capitalist system, individuals decide how they can make a profit and determine business practices accordingly. 

Age of Industry Section 3-8 Section 3 Lecture Notes 8 of 21 Click the mouse button or press the Space Bar to display the information. Fast-working, precise machines enabled industrialists to mass-produce, or to produce huge quantities of identical goods. Mass Production Looking to increase their profits, manufacturers invested in machines to replace more costly human labor. 

Age of Industry Section 3-9 Section 3 Lecture Notes 9 of 21 Click the mouse button or press the Space Bar to display the information. Mass Production (cont.) In the early 1800s Eli Whitney, inventor of the cotton gin, contributed the concept of interchangeable parts that increased factory production.

Age of Industry Section 3-10 Section 3 Lecture Notes 10 of 21 Click the mouse button or press the Space Bar to display the information. Mass Production (cont.) Frederick Taylor encouraged manufacturers to divide tasks into detailed and specific segments of a step-by-step procedure.  Using Taylor’s plan, industrialists devised a division of labor in their factories.

Age of Industry Section 3-10 Section 3 Lecture Notes 10 of 21 Click the mouse button or press the Space Bar to display the information. Each worker performed a specialized task on a product as it moved by on a conveyor belt, a concept called the assembly line. Mass Production (cont.)

Age of Industry Section 3-11 Section 3 Lecture Notes 11 of 21 Click the mouse button or press the Space Bar to display the information. As Ford produced greater quantities of his cars, the cost of producing each car fell, allowing him to drop the price. Mass Production (cont.) American automobile manufacturer Henry Ford used assembly-line methods in 1913 to mass-produce his Model T automobiles. 

Age of Industry Ford Assembly Line

Age of Industry Section 3-12 Section 3 Lecture Notes 12 of 21 Click the mouse button or press the Space Bar to display the information. Organizing Business As production increased, industrial leaders developed various ways to manage the growing business world and to ensure a continual flow of capital for business expansion.

Age of Industry Section 3-12 Section 3 Lecture Notes 12 of 21 Click the mouse button or press the Space Bar to display the information. In addition to individual and family businesses, many people formed partnerships–business organizations involving two or more entrepreneurs. Organizing Business

Age of Industry Section 3-13 Section 3 Lecture Notes 13 of 21 Click the mouse button or press the Space Bar to display the information. In the late 1800s, as industries grew larger, corporations became one of the best ways to manage new businesses. Organizing Business (cont.) Corporations–business organizations owned by stockholders who buy shares in a company–also emerged at this time. 

Age of Industry Section 3-14 Section 3 Lecture Notes 14 of 21 Click the mouse button or press the Space Bar to display the information. Business Cycles As market needs grew more complex, individual businesses concentrated on producing a particular kind of product.

Age of Industry Section 3-14 Section 3 Lecture Notes 14 of 21 Click the mouse button or press the Space Bar to display the information. This increase in specialization made growing industries dependent on each other. When one industry did well, other related industries also flourished and vice versa. Business Cycles

Age of Industry Section 3-16 Section 3 Lecture Notes 16 of 21 Click the mouse button or press the Space Bar to display the information. By the late 1800s, manufacturers began to apply more scientific findings to their businesses. Science and Industry Amateur inventors relying heavily on trial and error produced most industrial advances at the beginning of the Industrial Revolution. 