Rise of Corporations

1. Rise of Corporations • 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

2. Founders of Large Corporations John D. Rockefeller Standard Oil Andrew Carnegie Carnegie Steel Company

3. Large Corporations • 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

4. Continental Europe

5. Beginnings in Belgium • Rich deposits of iron ore and coal • Waterway Transportation • William Cockerill built spinning wheel • Other inventions followed • English workers fled to Belgium

6. Germany • Pockets of Industrialization • Coal in Ruhr Valley • Imported Equipment • Children educated in England • Railroads built • Help them become a military power

7. Other Parts of Europe • 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

8. Impact of Industrialization

9. Rise of Global Inequality • 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

10. Transformation of Society • 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