HIST258 Lecture Notes - Lecture 3: Henry Bessemer, Daniel Mccallum, Bessemer Process
11 Sep 2016
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People moved from farms to working daily jobs. Not much government control in guilded age (everything shiny/gold) Profits consistently keeps pressure on and potentially takes away from stability. 500,000 firms in 1870, few employees, mostly retail. Flour milling/cotton/lumber/footwear/iron/leather/wool goods/liquor were the big businesses at the time. Lumber employed the most people (work is not concentrated) Most business leaders were middle to upper class and a third received college education and did not have to work until 19. First industrial research center: menlo park, nj, 1876. Combine business and science invention (his inventions are for sales) Most leaders at this time were special individuals that came to dominate their fields. They didn"t called it the guilded-age, it was the era of the robber barons. Mephistopheles of wall street (considered the worst robber baron) Erie railway with jim fisk and daniel drew.
