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I. Rise of Industry in America

Explore the rise of industry in America fueled by natural resources like coal, oil, and iron ore. Witness the growth of the labor force, increase in capital investment, new inventions, and expanded transportation networks. Understand the significance of free enterprise and the role of entrepreneurs in shaping this transformative era.

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I. Rise of Industry in America

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  1. I. Rise of Industry in America

  2. A. Natural Resources • coal - power steam engines / machines - large coal deposits found in Penn, WV, Kentucky & Ohio • oil - lubricate machines / fuel lamps - found in Ohio & Penn • iron ore - make steel - found in Minnesota & Pittsburgh

  3. B. Increased Labor Force • 14 million immigrants • many Americans gave up farming to work in factories • large number of African Americans move to cities • increased number of consumers

  4. C. Increased Capital = investors seek to make money by investing in companies (buying stock) result = companies have more capital ($) to spend on raw materials & labor

  5. D. New Inventions • Bessemer process - Henry Bessemer invented a cheaper way to produce steel from iron ore • telegraph & telephone - Alexander Graham Bell • light bulb - Thomas Edison

  6. E. Increased Transportation = growth of RR’s in the US • created giant companies •  labor force •  immigration • caused pollution •  migration west • removed NA from land • towns & cities grew •  need for steel • set up time zones

  7. II. Free Enterprise • . free enterprise = individuals & private business are free to organize and operate for profit in competition with others • . supply and demand =  supply  demand /  supply  demand • . entrepreneurs = people who assume the risks for success or failure of the business enterprise = leaders that organize NR and labor, adopt new technology and inventions, and raise capital

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