Factors for industrial growth
natural resources
captial
us government support
desire
transportation systems
growing labor force
Market revolution
more regional specialization made mass production and mass consumption possible (lumber mill, furniture)
America’s first big business
Railroads, because they stimulated the coal, petroleum, and iron/steel industries.
problems of growth
overbuilding
mass consumption among railroads
railroad lines offered special rates and rebates
pooling and consolidation failed to help over-speculation
Gilded age (1865-1900)
helped business grow
small businesses were being bought by massive corporations
Interstate commerce act
passed in 1887
forbade pools, rebates, and other monopolistic practices
established the ICC
investigated complaints and unreasonable rates
Robber Baron
resellers
manipulate stock markets and company policies to line their own pockets
Factors for industrial growth
natural resources
captial
us government support
desire
transportation systems
growing labor force
Market revolution
more regional specialization made mass production and mass consumption possible (lumber mill, furniture)
America’s first big business
Railroads, because they stimulated the coal, petroleum, and iron/steel industries.
problems of growth
overbuilding
mass consumption among railroads
railroad lines offered special rates and rebates
pooling and consolidation failed to help over-speculation
Gilded age (1865-1900)
helped business grow
small businesses were being bought by massive corporations
Interstate commerce act
passed in 1887
forbade pools, rebates, and other monopolistic practices
established the ICC
investigated complaints and unreasonable rates
Robber Baron
resellers
manipulate stock markets and company policies to line their own pockets