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Chapter III: America Compared Readings (Week 5)
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Chapter III: America Compared Readings (Week 5)

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Personal analysis of the most important themes for the set of readings from week 5

Personal analysis of the most important themes for the set of readings from week 5

Published in: Business, Economy & Finance
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  • 1. Business and Labor in the Industrial Age
  • 2. TheIndustrialization of America
    The Industrial Revolution swept through America in only one generation
    By 1900, the United States was the leading industrial power in the world
    This was aided by America's abundant natural resources, investment capital from Europe, a cheap immigrant workforce, and huge urban centers which demanded consumer goods
    These characteristics provided the United States with the ability to surpass Great Britain in industrial development
  • 3. RobberBarons
    The business economy was dominated by huge corporations
    Out of this, great monopolies were created and only a few dozen companies controlled all the industry in the country
    These were the "captains of industry" and "robber barons" (depending on your point of view) of old
    The country was owned by people like Carnegie, Rockefeller, Vanderbuilt, and J.P. Morgan

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