HIST 2112 Lecture Notes - Lecture 4: Second Industrial Revolution, Justice Of The Peace, Escalator
Document Summary
America begins to turn from agriculture to industrialization. America starts to turn into an economic powerhouse. Technological innovation and invention: electricity - electric light bulb, telephone, passenger elevator, escalator, gas powered tractor (later began the john deer company) Growing population = business opportunity: starting a business has become easier. Strong agricultural sector: food production was also booming. Natural resources: so damn plentiful back in the day. Growing transportation network: railroads becoming more important. Pro-business government: today, the government isn"t like that as much anymore. Paying workers a minimum wage: little regulation, supported high tariffs. Made things sold in america cheaper than the imports: stake/stock holders, rise of some shrewd great entrepreneurs. Entrepreneurs: person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk. Andrew carnegie - retires on ,000 a day. Made no expense to build the greatest steel mill at the time.
