AMH 2020H Lecture Notes - Lecture 3: Gilded Age, Roosevelt Corollary, 1998 In Pride Fc
Document Summary
Causes of industrial growth: vast natural resources, flood of immigrants, technological innovations. Time frame of industrialization: late 1800"s & early 1900"s: the rapid transformation of the national economy, 35 percent of world manufactured goods come from u. s, transformed the geography, economy, culture, traditions. The 3 mindsets of industrialization: machinery would bring progress, ambivalence: mixed feelings about leaving the farm but long hours at a factory, greed for money and power. Industrialization altered freedom: what the u. s. was all about. Economies of scale: mass productive techniques for more products. Impacts: urbanization: the creation of cities, railroad expansion: number 1 industry, exploitation of natural resources, overseas market and global trade, greater division of wealth in u. s. The first industrial revolution: textile and crops, small businesses owned by the average joe. Second industrial revolution: creation of modern transportation & communication systems, electrical power, scientific research to industrial processes. Government laissez-faire: hands off, no government regulation. Domestic market for raw materials (iron, steel, coal)
