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The Growth of Industry in the U.S. (1865-1914 )

The Growth of Industry in the U.S. (1865-1914 ). The 2 nd Industrial Revolution. What is a Revolution?. A dramatic change in the way things are done, belief systems, government, social orders, etc. Forms of Revolution. Political Economic Agricultural Social Technology Industrial.

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The Growth of Industry in the U.S. (1865-1914 )

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  1. The Growth of Industry in the U.S. (1865-1914) The 2nd Industrial Revolution

  2. What is a Revolution? • A dramatic change in the way things are done, belief systems, government, social orders, etc.

  3. Forms of Revolution • Political • Economic • Agricultural • Social • Technology • Industrial

  4. Industry • refers to an area of economic production focused on manufactoring which involves large amounts of Capital investment before any profit can be realized. • Also: may refer to a group of businesses which produce the same product • i.e. “The automobile industry”

  5. Industrialization • The process by which a country develops from a pre-industrial economy to an industrial economy

  6. Factors Necessary For Industrialization • Land • Labor • Capital • Connections • Technology

  7. Land • The physical land and the resources that are found on that land • Gold • Silver • Copper • Oil • Lumber • etc.

  8. Labor • The workers to produce goods and services

  9. Capital • Money to invest in the start of new businesses

  10. Connections • Transportation and communication networks that connect businesses with their consumers • Examples: • Railroads • Highways, Roads, Bridges • Communication Networks • Telegraph • Telephone • Internet

  11. Technology • The application of knowledge towards the development of new ideas • Development of new inventions

  12. Before 1865 No indoor electricity No refrigeration Communications were slow…it took 10 days for a letter from NY to reach Chicago After 1865 Money used by companies during the Civil War was used to invest in the development of new technology and the growth of industry Technology

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