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The American Economy. American Free Enterprise-...make your own $ choices. -The U.S. economic system of free enterprise operates by giving consumers a choice. This forces producers to provide higher quality items at reduced prices to attract consumers to buy.

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american free enterprise make your own choices

The American Economy

American Free Enterprise-...make your own $ choices

-The U.S. economic system of free enterprise operates by giving consumers a choice. This forces producers to provide higher quality items at reduced prices to attract consumers to buy.

-Government involvement is limited to setting rules and acting as a referee to settle disputes in addition to collecting taxes

factors that lead to industrialization and urbanization
Factors that lead to industrialization and urbanization
  • Factors that lead to industrialization and urbanization
  • Natural Resources
  • Transportation
  • Investment capitol ($$$)
  • New Inventions
  • Population (immigration & high birth rates)
slide3

The need to make something better----CHANGE

  • The Industrial Revolution is the change from handmade to machine made products.
  • As the Industrial Revolution spread, more and more goods were made in factories. People began to move to cities (urbanize) and buy more manufactured goods rather than make everything themselves.
  • What drives Innovation? (something new/different)
steam engine

Patented in 1781by James Watt

Increased available power across the country, wherever water and coal or wood at hand

Affected transportation, manufacturing, and agriculture

STEAM ENGINE

steamboat

Patented in the US by Robert Fulton in 1807

Two-way river transportation became much easier

Affected commercial, private, and military transportation

STEAMBOAT

erie canal

Opened in 1825, promoter Dewitt Clinton

Thousands of workers were needed for this project. 25% of these workers were Irish.

This modification of the environment allowed the Great Lakes to be connected to the Hudson river

This connection made it cheaper and easier to get Midwestern farm products out to the ocean for trade and vice versa!

ERIE CANAL

patented by samuel morse in 1837 made long distance communication faster and cheaper
Patented by Samuel Morse in 1837

Made long-distance communication faster and cheaper

TELEGRAPH

cotton gin

Invented by Eli Whitney in the 1790’s

Made removing seeds from cotton easier

Significant impact on the economy of the South

INCREASED slavery in the south due to the need for MORE SLAVES to pick cotton since it could be processed faster!

COTTON GIN

interchangeable parts

Eli Whitney standardized parts, making them interchangeable from one item to another.

This made manufacturing easier and less costly=CHEAPER products for consumers 

INTERCHANGEABLEPARTS

bessemer steel process

Invented by Henry Bessemer in the 1850’s

Made possible the manufacture of great amounts of high quality, less expensive steel

Contributed to higher quality machinery, farm implements, and transportation

BESSEMER STEEL PROCESS

textile mill

Developed by Francis Lowell in the 1820’s

Recruited farmers daughters as his labor force “Lowell girls”

Brought the entire manufacturing process under one roof

Contributed to urbanization and child labor practices

TEXTILE MILL

slide15
Invented by John Deere in 1837

Allowed farming on tough Midwestern soils

“The Plow That Broke the Plains”

STEEL PLOW

mechanical reaper

Invented by Cyrus McCormick in the 1830’s

Reduced human and animal power needed to bring in crops

Increased efficiency- automatically cut, threshed and bundled grain

MECHANICAL REAPER

ir effects the american economy and society
IR effects the American Economy and Society
  • America was largely rural in the 1830’s.
  • The rise of industry changes this.
  • 1820-350,000 factory workers….by 1860 there are 2 MILLION factory workers!
  • People develop new work habits (time clocks, schedules)
  • Women and children enter the workforce along with immigrants
  • Needed more educated leaders and managers
  • Rapid industrialization brings increase in technology as well as societal problems.