1. The Rise of Industrialization
What is Industrialism?
Economic organization of a society built largely on mechanized manufacturing

2. 4 Key Factors These 4 factors helped to create the conditions in the United States necessary for massive economic growth at the turn of the century.
1. Natural Resources
2. Labor Supply
= Large workforce
3. Capitalism
=Free Enterprise
4. New Inventions

3. 1. Natural Resources

4. 1. Natural Resources
American expansion and territorial gain opens up the nations vast natural resources
Water, timber, coal, iron, copper and petroleum provide the ingredients for industry
U.S. does not need to import

5. 2. Labor Supply

6. 2. Labor Supply
Growing American population provided valuable “Labor” force
From 1860 – 1910 the population of the U.S. tripled
Two causes of growth
Larger Families
Immigration: , 20 million immigrants

7. 3. Capitalism The economic system in the U. S
3. Capitalism The economic system in the U.S. that is motivated by profits, allows for consumer freedom, and protects the private rights of business.

8. 3. Capitalism Economic organization driven by profits
Entrepreneurs: people who risk their capital (wealth) in organizing and running a business
Laissez-Faire: belief that the government should “Let” people “Do” as they choose
As evidence by lower taxes, few laws or regulations and high import tariffs

9. 4. Inventions

10. 4. Inventions Helped to improve the nation’s productivity
Alexander Graham Bell: telephone 1877
Thomas Alva Edison: Light bulb 1879 and Electricity
Henry Bessemer: process to make steel stronger and lighter

11. Exit Slip Question: Explain which of the four factors discussed in class today was the most important towards the growth of American Industrialization in the late 1800s and early 1900s?
Resources
Labor
Capitalism
Inventions