Why did the American Economy expand so quickly after 1865?
- Created by: Lily
- Created on: 29-04-13 22:13
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- Why did the American Economy expand so quickly after 1865?
- Natural Resources
- Huge mass of coal, iron ore & oil.
- Victory of North in Civil War
- "go getting", commerical society triumphed
- culture of self reliance & hard work
- Legacy of rule of law
- Security to landowners
- Possibility of business expansion
- Trustworthy & sophisticated business culture
- Application of New Technology
- Bessemer process
- bottling, canning, refrigeration on the railway
- Mass production
- Telephone
- Improved comminication
- Lightbulb
- Longer working hours
- Electrical Industry
- Lightbulb
- Longer working hours
- electrical goods, motor cars
- Lightbulb
- Immigration
- Provided masses of labourers
- Cheap and contast supply
- Strong work ethic
- Transport
- Coal-fired steam ships - faster & carried more!
- Transported the masses of immigrants
- Imported & Exported goods
- Railroads
- Huge employers
- Linked east & west coast
- stimulated iron & steel industries
- Helped agriculture - sold cattles & brought foregin utensiles
- Coal-fired steam ships - faster & carried more!
- Growth of corporations
- Trusts
- Reduced competition
- Efficient
- Wealthy businessmen
- Employed many people
- Philanthropists
- had social, economic & political power
- Resented
- Brutal
- exploited new technology to gain benefits e.g railroad
- Trusts
- Henry Ford
- Model T
- Affordable for everyone!
- Transport!
- System engineering
- Trained craftsmen for individual roles
- Conveyor belt (mass production)
- economies of scale = reduction in production cost
- Model T
- Natural Resources
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