1. Industrialization 1700-1800’s
Industry/business started in England, factories create thread, cloth and clothes (textiles).
New inventions build off each other, machines spread to other industries. Steam engine powers life, then electricity
Transportation improves (railroads, steamboats, cars)
Industrialization spreads to Germany, and US (after the 1860’s),
people move to the cities, living and working conditions worsen, then improve

2. Market Revolution- buy/ sell goods instead of making them
Free enterprise- individuals, private business make products (control the means of production)
Entrepreneurs- invest own money in business
Industry Expands- US #1 by 1900
Natural Resources- Iron ore, Coal, Oil- steam engine drill 1890, kerosene, gasoline
Steel- Bessemer process- make steel efficient/cheap, strong
Steel changes construction- bridges, railroad tracks, skyscrapers

4. Inventions/ Transportation/ Communication
1800’s-previous- cotton gin & bring inventions from England
Early- mid 1800s
Telegraph- Morse - communication over long distances
Canals- Steamboats- move goods faster, up/down river
Farm equipment- steel plow, reaper, barb wire
Sewing machine- 1846
Late 1800s
Electricity- Edison- light bulb, power plants
Westinghouse- appliances
Telephone- Bell coast to coast service
Typewriter- 1873

5. Work and Life changes
People move to cities, become consumers- advertising
More women enter work force- Lowell textile mills, sewing machines,
Work Changes
1700’s- skilled workers, small shops
1820’s- beyond- unskilled workers, factories-mass production of goods- work conditions get worse, strikes break out
1900- office/ professional jobs grow- jobs for women, clerical work, work conditions improve
New recreation, phonograph, bicycle
Standard of life rises

6. Railroads - link the nation, move goods faster, efficiently
st from Britain
1856- to Mississippi River
1869- transcontinental railway
1870- time zones created
,000 miles of track
thousands travel west, towns appear along rail lines
Built by thousands- African Americans, immigrants- Chinese, Irish , Hard dangerous work, little pay

7. Railroad abuses
price fixing- overcharge farmers/ ranchers to ship products- govt regulates business
Pullman- sleeper cars, town for employees, strict control- rules, store prices, rents
Credit Mobilier- stock holders of Union Pacific- steal money through construction co, charge more pocket extra $
The Grange- political action, laws for protection, fight over regulation, losing battle- ICC- Interstate commerce commission try to regulate/ fails
1893 Bankruptcy creates economic collapse

8. Big Business Corporation- sell shares- pieces of co.
vertical integration- control every stage of manufacturing process
horizontal consolidation- buy out competitors
lassiez faire- no govt. regulation
oligopoly- only a few companies control market
monopoly- one company controls market
Holding co- by shares in other companies
Trusts- several large companies join to eliminate competition (price fixing)
Huge profits for owners- Workers low wages, poor conditions
Big Business Often controls govt- large loans to business, no/ little regulation, high tarriffs, open immigration
Side note- South still hurt from Civil war- industry focused in North, lack of towns, resources, capital

9. Business Tycoons Andrew Carnegie- Steel Starts with stock investment
good management- always make better products cheaper, hire top workers-
John Rockefeller- Standard Oil- 1860s-70s
trusts- join competing companies as 1 corporation- 90% oil production, control railroads
JP Morgan- Banking industry
Cornelius Vanderbilt- steamships, trade, railroad empire
Social Darwinism- survival of most capable, poor are lazy/inferior
Horatio Alger, rags to riches- writer
Gospel of Wealth by Carnegie- donations to worthy causes