1. Industrial Revolution
Rise of Big Business and Industry

2. Industrial Revolution
Rapid growth in manufacturing in late 1800’s
By mid 1890’s U.S. led the world in industrial production

3. Inventions that led to industrial growth
Electric Lighting – allowed work to continue after sun down
Mechanical use of electricity – began the process of machine use
Telephone Service – communication became quick and easy

4. Thomas Edison
Can you believe I failed one thousand times to invent the light bulb?!?
Inventions…
Light bulb
Motion Picture
Electric Vote Recorder
Iron Ore Seperator
Automatic Telegraph
Electric Pen
Phonograph
Electric Generator
Speaker Phone
Universal Stock Printer
Akaline Battery

5. Reasons for rise
Coal and steam power provided transportation over land
Transportation – increase in rail
Intercontinental Railroad
Rail services include sleeping and dining cars
Allowed goods to reach
far into American
interior

6. Captains of Industry John D. Rockefeller Andrew Carnegie
oil
Andrew Carnegie
steel
Cornelius Vanderbilt
shipping and railroads

7. John D Rockefeller Began “Standard Works” in Cleveland, Ohio
Oil refinery business
By 1868 largest oil refinery in the world
Aim was to limit waste as much as possible
Changed to “Standard Oil” in 1870
Wanted to integrate all oil refinery
oligopolistic market – market is controlled by a small group of firms
Rockefeller's fortune peaked in 1912 at almost $900,000,000

8. Andrew Carnegie
Bessemer process – manufacture steel quickly and cheaply by blasting hot air through melted iron to remove impurities
Rags to riches story
Carnegie Steel Company in Pittsburgh, Pa
Maximize profits, minimize inefficiency
Sold company in 1901 for $480 million
Eventually gave away $350 million in philanthropy projects

9. Cornelius Vanderbilt Began in steamships, built railroads
Streamlined the railroads by cutting inefficiencies
Consolidated many of the smaller independent rail lines
Donated $1 million to help fund Vanderbilt University in Nashville
At his death he was worth more than $100 million

10. Results - Steel led to…some stuff??? Oil led to…seriously?
Railroads…duh

11. Few More Results… Cities grew exponentially
Immigration
Mechanization of farm equipment
Advertising
Labor
Unions
Child Labor Laws
$$$$!!!!$$$$!!!!!$$$$$