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| What dates were the industrial age? |
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| When and what was the steam revolution? |
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Definition
1830s-1850s. major contribution to industrial revolution
steamboats and steam trains
first big business in U.S.
magnet for financial investment
key to opening west
aided development of other industries
kept economy moving |
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| open hearth process (steel) |
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Definition
"Wizard of Menlo Park"
light bulb
phonograph 1877
motion pictures |
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Term
| ediphone and dictaphone created. what were they? |
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| alternate current... allowed current to be passed along a much longer circuit because of a reconfiguration of the electrons that forced them to push and pull |
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| Wilbur and Orville Wright |
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Term
| Causes for Rapid Industrialization |
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Definition
*unskilled and semiskilled labor increased
*abundant capital = more investment
*new, talented group of entrepreneurs and advisors
*the size of the market increased when U.S. population increased
*increase in natural resources
*government willing to help at all levels to help to grow the economy |
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Definition
government hands off economy
ideology of the industrial age
individual with a moral and economic ideal
individual can compete fairly |
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Definition
| poor=inferior=reason why they are poor |
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Term
| Protestant (Puritan) Work Ethic |
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Definition
| based off of colossians 3:23; work for God's glory, not for the boss or money |
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Definition
John Rockefeller (standard oil)
Swift - meatpacking industry
horizontal integration - monopoly of one industry
vertical integration - monopoly of parts of entire industry |
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Term
| stockbrokers and wall street effect and year |
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Definition
| 1867-1900; people could get rich faster... in stock market |
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Term
| reorganization of work...? |
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Definition
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Definition
| economic "rulers" had power over politics... choosing leaders based on how much money the economists ha |
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| "On Wealth" Gospel of Wealth; inequality is inevitable and good |
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Definition
| no conspiracies b/t companies to raise prices or set a standard price |
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