6.3 2nd industrial revolution
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12 Terms
krupp family
main family of steel industry
manchester
first industrial city
industrial park
area built specifically for manufacturing
effects of new tech
communication from electricity
improved materials
railroads/cars → transportation
advertising
long depression
economic recession caused by a scarcity of money
money was backed by gold value → no gold and thus no money
corporation response to long depression
monopolization
government response to long depression
protective tariffs
protective tariffs
inc prices on imported goods, causing people to buy goods within their country
free trade agreements
allows trade without signficiant tariffs on both sides
main effect of prussian industrialization
economic unifcation that eventually led to political unification
zollverin agreement
lowers barriers to trade and unites german states economically
national ssytem
imposed tariffs on imported goods