Mod 20: Industrialization 26-27

Thomas Edison

Invented the lightbulb… realized no one had electricity in their homes…. then invented the power plant to supply it! Also invented the phonograph (record player)

Alexander Graham Bell

Invented the telephone. Started Bell Telephone Company, the ancestor company of AT&T and Verizon.

Wright Brothers

Wilbur and Orville- First to achieve a sustained, controlled flight in a powered airplane

Henry Ford

Founder of Ford Motor Company, invented the moving assembly line, created the first affordable mainstream car in America

Andrew Carnegie

A Scottish-born American industrialist and philanthropist who founded the Carnegie Steel Company in 1892. Mass produced steel using the Bessemer Process. By 1901, his company dominated the American steel industry.

John D. Rockefeller

a businessman who operated Standard Oil, a massive oil monopoly, and remains one of the richest Americans to have ever lived. His monopoly was broken up in 1911.

Duryea Brothers

from the Peoria area, they built the first successful gasoline driven automobile in the U.S, won the first ever car race in the US, and opened the first successful car company in the US

patent

exclusive rights over an invention

corporation

large business, sometimes formed via mergers, that sell portions of 'ownership' to investors as stock shares

labor union

An organization of workers that tries to improve working conditions, wages, and benefits for its members by using 'collective bargaining,' meaning bargaining/negotiating on behalf of the whole group

Monopoly

Almost complete control of a product or business by one company-- this means buyers only have very limited or only one option of where to buy their product.

Monopoly effects

Reduces price competition, hurts small businesses and buyers. Consumers have limited choices, and the businesses take advantage of that and can charge unreasonable prices.

Cause of Industrial Revolution

discovery of Oil Drilling; advancements in steel production; harnessing of electricity; expansion of railroad

Moving Assembly Line

product moves down a conveyer belt and each worker has one task to do; drastically reduces time needed to manufacture goods. Invented by Henry Ford.

interchangeable parts

Manufactured components that are identical and can be substituted for one another in production, enabling easier assembly and repair of products.

Bessemer Process

A way to manufacture steel quickly and cheaply

Bessemer Process effects

drastically increased the amount of steel available for purchase and enabled new innovated construction

Working Conditions

Business owners looked for every possible way to cut costs and boost profits. Working conditions were very poor for employees

Employees

viewed by industrialists as replaceable and unimportant.

Immigration Policies

For a time, the US was very open to immigrants as they provided a vital labor source for growing industries

Immigrant Experience

Faced discrimination despite providing vital labor

Labor Laws

nonexistent at first - long hours, low pay, no safety precautions, limited or no breaks, no job security, etc. Businesses exploited laborers to maximize profits.