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Session 8: Industrialization, Urbanization and Reform Industrial Revolution

I. Industrialization: Rise of Industry (1850's-early 1900's). How do we deal with the seemingly unlimited basic needs and wants of a society (economics) when there are unlimited (scarce) resources?Natural ResourcesHuman ResourcesCapital Resources. 3 Types Economies. Traditional: (tradition deter

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Session 8: Industrialization, Urbanization and Reform Industrial Revolution

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    1. Session 8: Industrialization, Urbanization and Reform (Industrial Revolution)

    2. I. Industrialization: Rise of Industry (1850s-early 1900s) How do we deal with the seemingly unlimited basic needs and wants of a society (economics) when there are unlimited (scarce) resources? Natural Resources Human Resources Capital Resources

    3. 3 Types Economies Traditional: (tradition determines the allocation of resources within a society) Ex; Amish community, Native Americans Command: (Government commands, or determines the allocation of resources within a society) Ex; former Soviet Union, Cuba, North Korea Market: (Citizens determine the allocation of resources within a society) Ex; United States, Canada

    4. Rise of American Industry Capitalism/Free Enterprise allows private individuals to build and create a developing economy Railroads are born Transcontinental RR Central-Pacific (Use of immigrants and child labor)

    5. New Inventions/Inventions: Morse, Edison, Bell Rise of Big Business/Corporations Rockefeller-Standard Oil Trust (shares of stock fall under one larger trust) Monopoly: control of 95% or more of an industry Horizontal Integration Carnegie-Steel Magnate-Captain of Industry or Robber Baron? Vertical Integration Vanderbilt- RR Industry

    6. Response of Government: Monopolies lead to anti-trust laws Sherman Antitrust Act Clayton Antitrust Act Interstate Commerce Act Response of Labor: Poor conditions led to formation of labor unions AFL: Samuel Gompers (1st labor union) Knights of Labor: 1st attempt at a national labor union Triangle Shirtwaist Factory Fire: poor conditions in factories (sweat shops) leads to disastrous death of 146 workers (mostly women)

    7. II. Urbanization and Immigration Emergence of huge numbers immigrants to the US during the Industrial Revolution led to the rapid growth of cities, urbanization. People immigrating in search of the American Dream, believing that in America the streets are paved in gold. What a majority of immigrants meet is a strong Nativist opinion (America for Americans)

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