1. US Industrialization

2. American Industrialization
Industrial Revolution began in early 1800’s
1860 – out of 30m people, only 1.3m worked in industry
After Civil War, the US began to industrialize
Gross National Product
Total value of all goods/services produced
By 1914 – GNP was 8x greater than at end of Civil War (1865)
Industrialization transformed the US into world power
Industrialization was propelled by inventions but also propelled invention itself 2

3. Factors Natural Resources US had an abundance of raw materials
Water, timber, coal, iron, copper
Oil discovered in Pennsylvania
No need to import goods from other countries, making goods cheaper 3

7. Factors Natural Resources Workforce
US had an abundance of raw materials
Water, timber, coal, iron, copper
Oil discovered in Pennsylvania
Many were located in the west
Railroads made transport easy
Workforce
Between 1860 & 1910, US population 3x
Immigration & large families
Allowed for more workers & more demand for goods
No need to import goods from other countries, making goods cheaper 7

10. Laissez-faire Government regulations allowed for free enterprise
“Hands off”
Attracted investors from Europe
Supporters of Laissez-faire opposed:
Taxes
Public debt
Tariffs
Subsidies
Allowing companies to compete with each other creates more wealth for everyone
“Social Darwinism” 10

11. Monopolies