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Becoming Modern
1.
2. Becoming Modern
1865 - 1900ish
Four MAJOR technological advancements made this possible
oil steel
railroad telegraph
3. steel
The Bessemer Process:
method of turning iron into steel
stronger than iron
4.
5.
6. steel
The Bessemer Process:
method of turning iron into steel
stronger than iron
• larger buildings
7.
8.
9. steel
The Bessemer Process:
method of turning iron into steel
stronger than iron
• larger buildings
• bridges
• railroads
10.
11. railroad
Growth of R.R. = Growth of Industry
• jobs laying track/making RR cars, etc.
• faster, cheaper way to move people & goods
• promotes urban growth (ppl live in cities)
12.
13.
14.
15.
16. oil
• new businesses (refineries to purify)
• kerosene lamps
• helps machines run smoothly
• internal combustion engine
23. The idea of “small business” is over
1 owner/partners high risk
business begin to “incorporate”
many owners low risk
the goal becomes to make as much
MONEY as possible $$$$$$$$$$$$$
24. Generate a list of pros and cons for the
profit motive. How is it good and how is it
bad?
27. 1) BIG - provide your goods/services to as
many people as possible
2) CHEAP - the less it costs you to produce
the more profit you make
3) FAST - the more items you make, the
more you can sell
4) QUALITY - ???
28. Capitalism
Allows privately owned business where people
compete for economic gain.
Achieve your goal by any means
Relies on the free market to determine the price of goods and services
The public chooses based on their interests. No Gov’t interference
Laissez Faire - means
“hands off”
29. What is the ultimate goal of competition?
TO WIN!
(eliminate the competition)
