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The Second Industrial Revolution

The Second Industrial Revolution. What is an Industrial Revolution? What are we changing? How does this change effect the United States? Men Women Children Immigrants Minorities. Bessemer Process.

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The Second Industrial Revolution

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  1. The Second Industrial Revolution • What is an Industrial Revolution? • What are we changing? • How does this change effect the United States? • Men • Women • Children • Immigrants • Minorities

  2. Bessemer Process • The key principle is removal of impurities from the iron by oxidation through air being blown through the molten iron. The oxidation also raises the temperature of the iron mass and keeps it molten. Henry Bessemer

  3. Why is the Bessemer process important?

  4. George Westinghouse • George Westinghouse founded Union Switch & Signal, abbreviated (US&S), in 1881, consolidating the assets of companies that had pioneered closed track circuits and interlockings. Operating as an independent company until 1917, US&S became a subsidiary of Westinghouse Air Brake.

  5. George Pullman • He used his money and success to develop a comfortable railroad sleeping car, the Pullman sleeper, or "palace car."

  6. Thomas Alva Edison • An American inventor and businessman who developed many devices that greatly influenced life around the world, including the phonograph and a long lasting light bulb.

  7. Nikolaus August Otto • The German inventor of the internal-combustion engine, the first engine to efficiently burn fuel directly in a piston chamber.

  8. Alexander Graham Bell • His research on hearing and speech further led him to experiment with hearing devices that eventually culminated in the invention of the telephone.

  9. Brainstorm reasons why these men and their inventions are important to IR? • George Westinghouse • George Pullman • Thomas Alva Edison • Nikolaus August Otto • Alexander Graham Bell

  10. Edwin L. Drake

  11. Edwin L. Drake - Titusville PA

  12. Why was kerosene important? Kerosene lanterns

  13. Free Enterprise

  14. Free Enterprise Business that is free from government involvement

  15. Free Enterprise Business that is free from government involvement Gave way to Entrepreneurs People who start a new business

  16. Free Enterprise Business that is free from government involvement Entrepreneurs created Corporations Companies that sell shares of ownership called stocks Gave way to Entrepreneurs People who start a new business

  17. Name an entrepreneur and his/her corporation.

  18. Vertical Integration

  19. Why would an entrepreneur utilize Vertical Integration? • Andrew Carnegie • Steel Powerhouse

  20. Horizontal Integration Pizza Hut Pizza Outlet Domino’s Papa John’s Chuck E. Cheeses

  21. Why would an entrepreneur utilize Horizontal Integration?

  22. What effect does Horizontal Integration and Vertical Integration have on business?

  23. Why would an entrepreneur utilize Vertical Integration? • Improve efficiency by making supplies reliable • Control quality of product • Eliminate middleman fees

  24. Why would an entrepreneur utilize Horizontal Integration? • Control rivals • Created trusts • Cycle of buying competing company, • Improve the efficiency of operations • Pressing for discounts on shipments,THUS… • Undercutting his competition AND • Buying them out

  25. Top business men • Carnegie • Rockefeller • J.P. Morgan • Vanderbilt • How did they build their fortunes?

  26. Carnegie = Steel producer

  27. Rockefeller Oil

  28. J.P. MorganBanking

  29. Vanderbilt = Railroads

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