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Explore the growth of American industry through factors such as abundant raw materials, technological innovations, entrepreneurial spirit, and government support, leading to industrial supremacy. Learn about key figures like Cyrus Field, A.G. Bell, Frederick Winslow Taylor, and John D. Rockefeller. Discover the impact of scientific management, mass production, and business strategies that shaped the industrial landscape.
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*Abundant Raw Materials *Growing Labor Supply *Technological Innovations *Emergences of Talented, Ruthless Entrepreneurs *Gov. eager to help Business *Large, Expanding Market
Technology & Industry *Cyrus Field – Transatlantic Cable 1866
*A.G. Bell Phone 1876 by 1890 AT&T ½ million phones
Steel *Bessemer Process *Abram Hewitt-Open Hearth Process
Wilbur Wright October 29, 1909
Frederick Winslow Taylor Scientific Management “Taylorism”
Ford Assembly Line *cuts time from 12 ½ to 1 ½ h *cuts price 1914 $950 1929 $290
Mileage 30,000 in 1860 193,000 in 1900
Vertical Integration
Corporation Trust Holding Company
Forces Railroad to cut prices for him Uses both horizontal & vertical integration by age 33 owns 90% of refineries
Undersells competition to force them either into bankruptcy or to sell Becomes the first billionaire
Herbert Spencer Social Darwinism
Gospel of Wealth