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

Published in: Business, Economy & Finance
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Chapter III: America Compared Readings (Week 5)

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

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