United States • Has similar resources to Great Britain • War of 1812 forced US to build industries • Starts in the textile industry (fabrics, etc). • Even though Britain forbids talk to the US about factories, Samuel Slater goes to the US and builds a spinning jenny from memory. • From there it takes off and many businessmen use the machine to industrialized the US.
US Industrialization • Young women leave rural (Farms) areas to go work in factories • Closely watched • 12hrs a day, 6 days a week, decent wages • Sometimes better than being a servant, often only work open for them. • Factories are prosperous in the Northeast.
Expansion of Industry • Railroads • Connects the nation & allows cities like Chicago and Minneapolis to expand rapidly. • Towns pop up along railroad lines
Rise of Corporations • Stock • Certain rights of ownership • Corporation • A business owned by stockholders who share in its profits but are not personally responsible for its debts • Can raise large amounts of money to invest in industrial equipment
Corporations • Standard Oil • John D. Rockefeller • Seek to control every aspect of industry in order to make big profits $$ • Big Business • Giant corporations that controlled entire industries • Can make profits by lowering prices too..
Continental Europe Industrializes • Other European countries start to industrialize • Belgium adopts British tech. They have lots of coal, which helps • Germany also has lots of coal. • 1835 the Germans start to copy the British. • They send their children to school in Britain • Build railroads • Helps it become an industrial and military giant
Continental Europe Industrializes • Bohemia develops a spinning industry • Spain processed more cotton than Belgium • Italy mechanizes textile industry • Factories in Russia • France grows after 1830, new French products created after 1850 when gov’t starts railroad building. • Austria-Hungary can’t industrialize because of mountains
Impact of Industrialization • Wealth gap • Huge gap between the rich and poor emerges. Factory owner and businessmen have way more money than the workers. • Changes in society • Better standards of living • Longer life expectancies • More wealth • More Education • More democracies