1. America’s Industrial Revolution
THE AGE of INDUSTRY
America’s Industrial Revolution

2. The Four necessities for an
Industrial Revolution
1. Natural Resources
2. Large Labor Pool
3. Transportation & Communication
Systems
4. Markets

3. The Free Enterprise System- An economic
system characterized by private ownership
of the means of production and a lack of
government regulation of the economy.
AKA -Market Economy or Laissez Faire
Economics.
A countries economic strength is measured
by its GDP or Gross Domestic Product which is
the total value all goods and services
produced in a country in one year.

4. Corporation- A business owned by the
public through the sale of stock.
Stock- Certificates of partial ownership
in a corporation.
Dividends- Payments to stockholders based on the # of shares they own.
Capital- Money used to expand
businesses. Stocks produce large
amounts of capital.
Investing in corporations is made less risky by
limited liability which protects stockholders
from being responsible for a corporation’s debt.

5. “ New Immigrants”- Those immigrants
who came to America after the Civil War
from southern and eastern Europe.
Most settle in large northeastern cities
and find jobs as factory workers.

6. Monopoly – The complete control of an
entire industry by a corporation.
Rich industrialists were nicknamed Tycoons
Or not so affectionately, “Robber Barons.”

7. J.D. Rockefeller created a monopoly
called Standard Oil

8. He supported a theory called
Social Darwinism or
“survival of the fittest.”
Horizontal Integration- Controlling
one essential step in the
production of a product in order
to create a monopoly.

9. Andrew Carnegie created a
monopoly called Carnegie Steel

10. Vertical Integration- Controlling all the
steps in the production of a product-
from raw materials to finished products.

11. Carnegie created a “company town” called, Homestead, Pennsylvania.

12. known as the “Age of Invention.”
These years were also
known as the “Age of Invention.”
Alexander Graham Bell
Thomas Edison
Light bulb 1879
Telephone 1876

13. which means gold plated.
Mark Twain
called this time, The “Gilded Age”
which means gold plated.

14. fueled by the “Nouveau Riche”
Conspicuous Consumption means showing off
wealth and was
fueled by the “Nouveau Riche”

15. 70 Room Mansion in Rhode Island
Cornelius Vanderbilt’s “cottage” – The “ Breakers”
70 Room Mansion in Rhode Island

16. Dinner served on Horseback

17. How The Other Half Lives
written by Jacob Riis
exposed the poverty of the
New Immigrants.

18. Back then there was no welfare,.

19. Child Labor Laws,

20. minimum wage or
or maximum hours laws.

21. Andrew Carnegie’s “ A man who Philanthropy- dies rich, The act of
dies shamed.”
Philanthropy-
The act of
giving
to charity.
The Gospel of Wealth

23. Carnegie
Hall
New York
City