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.
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
AP European History
From 1870 to 1914, Europe had rapid economic growth
The basics of our modern economies emerged
Second Industrial Revolution
The Gold Standard
Refined Steam Engine
Internal Combustion Engine
Still from Georges Melies A Trip to the Moon (1902)
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
John D. Rockefeller
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