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The Victorian Era, 1870 - 1914: Victorian Economics

The Victorian Era, 1870 - 1914: Victorian Economics. AP European History Androstic 2012-2013. Overview. From 1870 to 1914, Europe had rapid economic growth The basics of our modern economies emerged Topics Second Industrial Revolution Free Trade The Gold Standard Corporations.

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The Victorian Era, 1870 - 1914: Victorian Economics

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  1. The Victorian Era, 1870 - 1914:Victorian Economics AP European History Androstic 2012-2013

  2. Overview From 1870 to 1914, Europe had rapid economic growth The basics of our modern economies emerged Topics Second Industrial Revolution Free Trade The Gold Standard Corporations

  3. Second Industrial Revolution Refined Steam Engine Internal Combustion Engine AC Motor

  4. Telephone Alfred Nobel Bessemer Steel Still from Georges Melies A Trip to the Moon (1902)

  5. Free Trade Free Trade the mantra of most states But most states imported more than they exported - opposite of mercantilism How can you spend more than you make? Export of European capital Invested money outside the country Invested money yielded returns - profits and interest Allowed for a rise in standards of living domestically and internationally - especially in the USA

  6. Gold Standard

  7. Boom and Bust Cycle

  8. Corporations John D. Rockefeller

  9. Summary The Second Industrial Revolution led to an incredible growth in energy source - oil! New technologies “enlightened” Europe The modern business structure emerged Boom and bust cycle Corporations, monopolies, and trusts Captains of industry grew fabulously wealthy

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