The victorian era 1870 1914 victorian economics
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The Victorian Era, 1870 - 1914: Victorian Economics PowerPoint PPT Presentation


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The Victorian Era, 1870 - 1914: Victorian Economics. AP European History Androstic 2012-2013. Overview. From 1870 to 1914, Europe had rapid economic growth The basics of our modern economies emerged Topics Second Industrial Revolution Free Trade The Gold Standard Corporations.

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The Victorian Era, 1870 - 1914: Victorian Economics

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The victorian era 1870 1914 victorian economics

The Victorian Era, 1870 - 1914:Victorian Economics

AP European History

Androstic

2012-2013


Overview

Overview

From 1870 to 1914, Europe had rapid economic growth

The basics of our modern economies emerged

Topics

Second Industrial Revolution

Free Trade

The Gold Standard

Corporations


Second industrial revolution

Second Industrial Revolution

Refined Steam Engine

Internal Combustion Engine

AC Motor


The victorian era 1870 1914 victorian economics

Telephone

Alfred Nobel

Bessemer Steel

Still from Georges Melies A Trip to the Moon (1902)


Free trade

Free Trade

Free Trade the mantra of most states

But most states imported more than they exported - opposite of mercantilism

How can you spend more than you make?

Export of European capital

Invested money outside the country

Invested money yielded returns - profits and interest

Allowed for a rise in standards of living domestically and internationally - especially in the USA


Gold standard

Gold Standard


Boom and bust cycle

Boom and Bust Cycle


Corporations

Corporations

John D. Rockefeller


Summary

Summary

The Second Industrial Revolution led to an incredible growth in energy source - oil!

New technologies “enlightened” Europe

The modern business structure emerged

Boom and bust cycle

Corporations, monopolies, and trusts

Captains of industry grew fabulously wealthy


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