The 2nd Industrial Revolution and the Robber Barons-Guilden Age-Rural->UrbanThe Steam Engine- In wide use since the 18th century- By 1870 they did more work than animals and humans- Huge advances in productivity would not have been possible without itResources Used to Power the 2nd Revolution- Woodo Prior to 1850o Led to deforestation- Coalo By 1870 more machines used coal than woodo More efficient and easier to transport- Oil: Petroleumo Late 1900’so Kerosene was first used Originally used whale oilo John D Rockefeller 1870 standard oil companyHorizontal Integration- Combining a number of firms engaged in the same enterprise into a single corporationTrusts- Large diversified corporations which dominated the late 19th century- Created when stockholders of several companies conveyed their shares of those companies in “trust” to trustees.Railroads- Standardizationo Had different gauges, now uniformo Time Zones 4 time zones to regulate traffic - 1st Transcontinental Railroado Connected East and Westo Omaha to Sacramentoo Gould Scandalo Union and Pacific sabotaged peopleo Promontory Point, Utah Where the two Railroads met in 1869 The golden Spikeo 1871-Giving land comes to an end because of democrats- Jay Gould (Robber Baron)o Went out and bought failing Railroads for cheapSteel- Henry Bessemero British Inventoro The Bessemer Process, 1854o Revolutionized steel manufactureo Process decreased the cost and labor of steel makingo Before it was to expensive- Open-hearth furnaceo Enabled mass production of Steel- Andrew Carnegieo Hired for personal assistanto Cost Cuttero Bought Steel Mill Carnegie Steel Corporationo Used Vertical Integration Controlling the companies needed to make steelo By 1900 was the largest company- The Gospel of Wealtho Encouraged businessmen to become philanthropistso Create charities and endorsementso Gave away all his
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