Specialization and Imperialism (Unit 6 World History)

Specialization

Focusing on one specific task or skill in production to increase efficiency.

Economic Interdependence

People rely on others to provide goods and services they do not produce themselves.

Stock

A share in the ownership of a company.

Corporation

A company owned by shareholders; profits are shared, but not debts.

Adam Smith

Economist who promoted free markets and the idea of the 'invisible hand.'

Laissez-faire

A policy where the government does not interfere in the economy.

The Industrial Revolution in the U.S.

Started with natural resources and labor availability.

Samuel Slater

Brought British textile technology to America.

Lowell, Massachusetts

Became a key center for textile production.

Mass Production

Introduced interchangeable parts and the assembly line.

Division of Labor and Specialization

Made industries more efficient.

Post-Civil War technology boom

Furthered industrial growth.

The Rise of Corporations

Big companies merged to become powerful.

Stocks

Helped businesses raise capital while spreading risk.

Corporations

Tried to dominate industries (monopolies).

Europe's Industrial Expansion

Belgium: Iron, coal, and water helped early industry.

Germany

Industrial boom by mid-1800s with railroads and steel.

France & Italy

More gradual, with focus on textiles and agriculture.

Global Effects

Wealth gap widens between industrial and non-industrial nations.

Imperialism

Increases as nations seek raw materials and new markets.

Manifest Destiny

Belief that the U.S. was destined to rule from Atlantic to Pacific.

Civil War (1861-1865)

Abraham Lincoln elected in 1860; South secedes.

Emancipation Proclamation (1863)

Freed slaves in rebelling states.

Reconstruction (1865-1877)

Northern troops enforced new laws in the South.

Immigration

Over 20 million immigrants came to the U.S. by 1914.

Transcontinental Railroad (1869)

Connected East and West.

Monroe Doctrine (1823)

Warned European powers not to colonize the Americas.

Spanish-American War (1898)

Sparked by Cuban independence movement led by José Martí.

Hawaii

U.S. sugar planters overthrew Queen Liliuokalani.

Panama Canal

Built to link the Atlantic and Pacific Oceans.

Roosevelt Corollary (1904)

Expansion of the Monroe Doctrine.