For Homework:
1. Finish your cornell notes for Chapter 3 Section 1
2. Complete the following worksheet
https://drive.google.com/file/d/0B2mk7v8cXovLck93TXdodjZhVlh5aS1NU1JhQlhuY25RczZn/view?usp=sharing
3. Study for your quiz on Wednesday
This is the reading we will do on Thursdsay:
http://www.bevcline.com/kerosene.pdf
Here are the notes from today:
Chapter 3
The Triumph of
Industry
Carnegie: Steel Company
Rockefeller: Oil (controlled over 90% of oil industry)
Vanderbilt: Railroad tycoon
JP Morgan: Investment banker (First Billionaire)
Reasons for Industrial Growth: Natural Resources,
Inventions
SECTION 1:
Essential Question:
What factors led to the expansion of industry and business in the United States
in the late 1800’s?
1.
Natural Resources: We had a lot of them
a.
Resources that cannot be made by man, but are
made in nature.
i. Forrest
= timbers,
ii. Rivers:
water/rivers = shipping transportation
iii. Coal (for trains, boats, factories)
iv. Iron build things with it, we turned
iron into steel
v. Oil
2.
Growing Workforce
a.
Many immigrants from Europe: Cheap Labor force
3.
Innovations and Inventions: Create new
ideas, new ways of doing things
a.
Entrepreneurs develop new products
b.
Government policies encourage development
i. Laissez
faire capitalism: Business competition or lack thereof, government not
involved in business
4.
Railroads
a.
Connect the nation’s industries
b.
Allows companies to grow too
What is industry?
The use of machines and factories
to produce goods
Industrialism: when society
(people) comes to rely (depend) on the modern means of production, it is known
as industrialism.
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