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By the end of this section, you will be able to:
  • Explain how the ideas and products of late nineteenth-century inventors contributed to the rise of big business
  • Explain how the inventions of the late nineteenth century changed everyday American life
A timeline shows important events of the era. In 1870, John D. Rockefeller founds Standard Oil; a photograph of Rockefeller is shown. In 1873, Andrew Carnegie founds Carnegie Steel, and the Panic of 1873 triggers extended depression; a drawing of the Carnegie Steel factory is shown. In 1876, Alexander Graham Bell patents the telephone; a photograph of Bell is shown. In 1877, the Great Railroad Strike lasts forty-five days; a drawing of the strike is shown. In 1879, Thomas Edison invents the light bulb; a diagram of Edison’s incandescent light bulb is shown. In 1886, a labor rally at Haymarket Square erupts in violence, and the American Federation of Labor is founded; an engraving depicting the Haymarket violence is shown. In 1892, the Homestead Steel Strike occurs; a magazine cover with a drawing of the newly surrendered strikers is shown.

The late nineteenth century was an energetic era of inventions and entrepreneurial spirit. Building upon the mid-century Industrial Revolution in Great Britain, as well as answering the increasing call from Americans for efficiency and comfort, the country found itself in the grip of invention fever, with more people working on their big ideas than ever before. In retrospect, harnessing the power of steam and then electricity in the nineteenth century vastly increased the power of man and machine, thus making other advances possible as the century progressed.

Facing an increasingly complex everyday life, Americans sought the means by which to cope with it. Inventions often provided the answers, even as the inventors themselves remained largely unaware of the life-changing nature of their ideas. To understand the scope of this zeal for creation, consider the U.S. Patent Office, which, in 1790—its first decade of existence—recorded only 276 inventions. By 1860, the office had issued a total of 60,000 patents. But between 1860 and 1890, that number exploded to nearly 450,000, with another 235,000 in the last decade of the century. While many of these patents came to naught, some inventions became lynchpins in the rise of big business and the country’s move towards an industrial-based economy, in which the desire for efficiency, comfort, and abundance could be more fully realized by most Americans.

An explosion of inventive energy

From corrugated rollers that could crack hard, homestead-grown wheat into flour to refrigerated train cars and garment-sewing machines ( [link] ), new inventions fueled industrial growth around the country. As late as 1880, fully one-half of all Americans still lived and worked on farms, whereas fewer than one in seven—mostly men, except for long-established textile factories in which female employees tended to dominate—were employed in factories. However, the development of commercial electricity by the close of the century, to complement the steam engines that already existed in many larger factories, permitted more industries to concentrate in cities, away from the previously essential water power. In turn, newly arrived immigrants sought employment in new urban factories. Immigration, urbanization, and industrialization coincided to transform the face of American society from primarily rural to significantly urban. From 1880 to 1920, the number of industrial workers in the nation quadrupled from 2.5 million to over 10 million, while over the same period urban populations doubled, to reach one-half of the country’s total population.

An advertisement shows a drawing of an elderly woman, who is wearing a traditional shawl and bonnet, knitting a stocking. Beneath her is a drawing of many rows of workers sewing in a factory and a close-up drawing of several young women making hosiery using modern equipment. The text reads “Cooper, Wells Ld. Seamless Hosiery. Manufactured at St. Joseph, Mich.”
Advertisements of the late nineteenth century promoted the higher quality and lower prices that people could expect from new inventions. Here, a knitting factory promotes the fact that its machines make seamless hose, while still acknowledging the traditional role of women in the garment industry, from grandmothers who used to sew by hand to young women who now used machines.

Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
t
WARKISA
hi guys good evening to all
Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
yes,thank you
Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
Mohammed
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Source:  OpenStax, U.s. history. OpenStax CNX. Jan 12, 2015 Download for free at http://legacy.cnx.org/content/col11740/1.3
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