1. Chapter 5.1
The Rise of Industry

2. Chapter 5.1 The Rise of Industry
After the Civil War The U.S. became an industrial Nation
“Gross National Product”- The value of all goods and services a country produces
The U.S. has an abundance of raw materials
The U.S. has an abundance of people

3. Chapter 5.1 The Rise of Industry
New Inventions that changed society:
Telephone- Alexander Graham Bell
Light bulb, Battery, Motion Picture, General Electric, -Thomas Edison at Menlo Park
Air break, Alternating Current- George Westinghouse

4. Chapter 5.1 The Rise of Industry
Free Enterprise System- anyone can start a business
“Laissez-Faire”- Let the people do as they choose, government should not interfere with business
“Entrepreneurs” people who risk money to open a business
Tariff- a tax on imported goods