1. ECONOMIC REVOLUTIONS Industrial Revolution, 1860-1900 –Revolution in power (technological innovation) –Natural resource base –Revolutions in communication and transportation –Support by federal government High tariffs Creation of national banking standards Lack of government regulation (Favorable Interpretation of 14 th Amendment) –Munn v. Illinois (1877) –Economic Due Process (1880s and 1890s) –Social Darwinism (William Graham Sumner) –Managerial innovation

2. ECONOMIC REVOLUTIONS John D. Rockefeller and Standard Oil The Trust and the Holding Company (Vertical Integration)

3. ECONOMIC REVOLUTIONS Finance capitalism – J.P. Morgan –Investment banker –U.S. Steel Economic Power Translated into Political Power

6. ECONOMIC REVOLUTIONS The Second American Industrial Revolution, c. 1910 – 1920s –Technological innovations Electric motors The assembly line

7. Window display at F. W. Woolworth’s Consumer Goods

11. Radio

12. The Second American Industrial Revolution –Expansion of advertising –Refined methods of credit –Further consolidation of industry –“Fordism” ECONOMIC REVOLUTIONS

13. American Culture and Mass Consumption –Increase in Leisure Time –Culture of Celebrity Clara Bow Babe Ruth

14. Girls arrested for wearing bathing suits in Chicago Self-Conscious Youth Culture