Steel
Pennsylvania
Iron
Needed to make steel
Coal
Mined in West Virginia
Needed to make steel
Oil
Whale oil used for lamps
Later oil drilling began for lamps and then for cars
Railroad
Automobile
Internal combustion engine
Not invented by any one person
Started as a plaything for the rich in the 1880's
Henry Ford made available to average person
Model T
Under $300
Assembly Line
Led to further urban sprawl
Captains of industry(robber barons?)
Trusts-a business combination in which management and control of the
member corporations are vested in a single board of trustees who are thus
able to control a market, absorb or eliminate competition, fix prices
Advantages
More efficient
Reduce waste by eliminating duplication
Install new and more productive equipment
Sell products for less because they buy in large quantities
Able to wait for a profit on new products
Disadvantages
No competition
Creation of robber barons
Social Darwinism
Sherman Antitrust Act(1890)
Enforcement was almost impossible because wording was vague
