The industrial revolution may sound awful to many people, but it did bring a lot of valuable knowledge to the world. Industrialization brought many benefits to the world in the 1800s and even paved a path for generations to come. The ability to purchase items, faster more efficient production, and transportation were all positive effects of the Industrial Revolution. The industrial revolution made it possible to purchase items instead of making them all on your own. In the book, The Working Man’s Companion it clarifies how life was in the 1830’s.
Name of Industrialist: Henry Ford How did he acquire his wealth? He acquire his wealth by being a self-made man, that revolutionize the car industry in the 90’s. How he (or his related industries) treated workers? Ford manage to lowered the cost of manufacturing, while providing a wage correspondent to more than double of the previous average. He is known for the “skilled workers who earn steady wages.” But like most industries of the time, employees had severe health problems cause by the repetitiveness nature of the job and work place conditions.
In summary, there was a cyclical relationship between industrialization, innovation and consumer culture. Each of these aspects of the Gilded Age elevated the prominence of every other. Without the consumer culture, there would not have been nearly enough money being spent on the new products to justify inventing or producing more. The rise of consumer culture played an important role in the enormous economic boom of the Gilded Age, as it provided the demand for
Trade almost always benefits the countries who participate in it. There have been many trends towards freedom of trade in the United States ever since the very beginning of the nation. Trade boosts the economy by keeping it competitive and lowering prices, which increases the consumers purchasing power. Without trading between nations, the United States wouldn’t be what it is today, trade at the center of the United States is what shaped this country as well as foreign relations. Teddy Roosevelt has influenced trade and foreign relations in the United States arguably more than any other president to this day.
(The Brewing Industry) Railroads are gaining profit because alcohol producing companies are paying them to distribute their product to stores. Telegraph companies are benefiting due to different companies interacting and negotiating with each other. Lastly, mechanical refrigeration units are not cheap, so if alcohol companies are buying the units, the makers of the refrigeration units are making huge profits. This complex flow of money helps the economy run smoothly. On the other hand, the prohibition of alcohol had a very negative affect on the economy.
“Industrialists touted automation as a way to improve working conditions and workers’ standard of living” (130). As seen from this quote, automation shaped the way we view labor. Not only did it provide a better alternative instead of using many people, but the use of machines reduced the number of accidents that may have occurred otherwise. Clearly, industrialists needed to look to “how to get the most out of machines rather than how to get the most out of people” (131). This was reduced because many of the more dangerous machines used in factory jobs were replaced with more modern and safer machinery.
These men are Captains of Industry because they donated millions of dollars to schools, museums, and clinics. John Rockefeller donated 100s of millions of dollars to schools and research. Rockefeller donated 75 million dollars in total to Chicago throughout a span of a few years (reading). Rockefeller gifted 50 million dollars to the Rockefeller Institute for Medical Research(reading). In 1919 Rockefeller 50 million dollars to the board to raise academic salaries(reading).
A captain of industry is defined as “a business leader whose means of amassing personal fortune contributes positively to the country in some way.” Furthermore, a business leader who increased productivity, expanded markets, provided more jobs, or showed acts of philanthropy were considered captains of industry. One example is John D. Rockefeller who combined his many oil corporations that he already owned into the Standard Oil Trust. Creating the Standard Oil Trust made Rockefeller’s products cheaper for the public, it provided many jobs to workmen and it “paid the best wages,” according to Document 2. While pursuing the gain of wealth, Rockefeller positively helped the country grow. Another example of a captain of industry was Andrew Carnegie.
Dat Chenh Prof. McNee History 313 03/13/2017 The Free Nation Industrialization. An inevitable event which took place during the late 19th and early 20th century also known as the second industrial revolution; marks an important turning point for life inside the United States. The most important contribution to the revolution was steel. With growth in production along with the significantly lower cost compared to iron, steel was the answered to new inventions in construction such as skyscrapers and in transportation such as trains and railroads. While the rise of industry brings many jobs and wealth to American soil, it also brings changes to working class Americans.
Common knowledge here, but during the great depression it was Theodore Roosevelt who brought America out of the great depression. He as president and his chamber of people created plenty of jobs to fuel the economy again. Therefore, government should be able to step in and stop inflation on food and oil, because if they don’t than businesses will take advantage of the people. Since businesses know that people will have to buy food and oil as a necessity to live and survive on, people will have to buy it at any cost. This means more profit for businesses because the rise on food and oil means more money in their wallet but less money in consumers’ wallets, “Similarly, when homeowners benefit from inflation because the price of their homes rises, while renters suffer because they are paying higher rent” (ch.8 p. 15).
America began to prosper in the 1920’s because of industrial production being up, wages were rising, and the unemployment rates were low. After World War I America was the world’s leading economic power, because of all the technological changes happening in the industrial companies. Technological changes were happening in many industries, for example Henry Ford began to make his cars on an assembly line, which enabled him to sale more cars and cheaper products. America also had a lot of natural resources, oil being one of them, which is essential in cars. Oil was also very abundant so it sold for cheap prices.
The American Industrial Age was a period of time which was actually a good era, many great advantages happened that are now here to help us today. When the economy grew and so did the country. There were inventions that would eventually help the country 's economy, not only that but also help expansion. Many benefits for America happened such as, the inventions of the light bulb, cars and railroads as well. Steel making , and electrical power railroads expanded significantly, bringing every single part of the country into a national market.
Spindletop, the oil boom in Beaumont created the modern oil and natural gas industry, changed the future of American transportation, and also brought many new oilfield technologies. “Spindletop was to remake the oil industry.” 3 Before the discovery of Spindletop, oil was only used for lamps and lubrication. After the Spindletop, petroleum would be used as a major fuel for new inventions as the airplane and automobile. Ships and trains that had previously run on the power of coal, now switched to oil. The cheap fuel helped to revolutionize American transportation and industry.
Being able to transport items more quickly and efficiently helped boost the economy. The steam engine would spread from the United Kingdom and beyond. The spreading of the invention shows its importance because it shows that more people needed the invention to help their country
After corporate titans like Rockefeller, Carnegie, and Morgan had changed the economic landscape in America, new giants followed their footsteps, this time focusing more on the consumer. Henry Ford emerged as one of the leaders of this new consumer-focused economy due to his Model T car that would prove affordable for the average American. His introduction of the assembly line changed production forever, bolstering the consumer fever. Just like Ford’s assembly line, perhaps the next big overhaul of factories is the use of alternative energy. A great adaptation of Ford’s success would to be providing affordable alternatives to fossil fuels both for large corporations and the average consumer.