railroads cost lots of money to build and maintain entrepreneurs sold stock corporations were able...
TRANSCRIPT
Railroads cost lots of money to build and maintain
Entrepreneurs sold Stock
Corporations were able to raise capital to invest into industrial equipment
By the late 1800’s large corporations were began to appear in the United States
Rise of Corporations
Founders of Large Corporations
John D. RockefellerStandard Oil
Andrew CarnegieCarnegie Steel Company
Wanted control of the entire industry
Made huge profits by reducing the cost to produce goods
Workers earned less money for long hours and stockholders earned high profits
Large Corporations
Continental Europe
Rich deposits of iron ore and coal
Waterway Transportation
William Cockerill built spinning wheel
Other inventions followed
English workers fled to Belgium
Beginnings in Belgium
Pockets of Industrialization
Coal in Ruhr Valley Imported
Equipment Children educated
in England Railroads built Help them become
a military power
Germany
Industrialization came about in regions Bohemia developed spinning industry Spain processed more cotton than Belgium France controlled industrialization due to
their strong agricultural economy Many European countries did not
industrialize Geographical Problems Mountains Waterways
Other Parts of Europe
Impact of Industrialization
Widened the gap between industrialized and nonindustrialized countries
Companies needed materials to feed the machines
Industrialized countries look to nonindustrialized countries for their products
Britain exploited their own colonies Imperialism is born Need to supply the factories with resources
and in turn sell their products
Rise of Global Inequality
Western Europe and the United States saw changes in people lives
Africa and Asia still relied on agriculture Created change in life styles & life
expectancy Even with all the issues, the middle class
rose during the industrial revolution Education Democratic participation Social Reform
Transformation of Society