New Products of Second Industrial Revolution
Steel
Chemicals
Britain fell behind in this industry as well (producing alkalies, new organic chemical compounds)
Electricity
Thomas Edison
-invented light bulb
Alexander Graham Bell
-invented telephone
Guglielmo Marconi
-sent first radio waves across Atlantic
Effects of electricity
The Internal Combustion Engine
Effects of Internal combustion Engine on the Automobile
Effects of Internal combustion Engine on the airplane
-zeppelin started it –> wright brothers (gasoline engine)
Daimler
-invented light engine
Henry Ford
-an AMERICAN who led the production of automobiles with his Model T
Wright Brothers
-made first flight in a plane powered by A GASOLINE ENGINE
New Markets in the Second Industrialization Revolution
Mass Marketing
-steel and electricity industries –> make production easier –> produce more products to sell –> mass marketing
Tariffs in the Second INdustrial Revolution
Cartels
Larger Factories
New Patterns in an Industrial Economy
great depression
Great Depression from 1873-1895
-prices fell and slumps in the business cycle reduced profits
British leadership
german industrial leadership
Need for Scientific and Technical Education