In the late 1800’s the US overtook Great Britain as the world’s largest source of manufactured goods
Abundant natural resources o The US was its own source of the raw materials necessary for industrialization o Coal, iron ore, copper, lead, timber, and oil
Abundant labor supply o High immigration between 1865 & 1900 o Increased supply of laborers and high demand for industrial jobs made labor cheap
Capital (wealth or money) for investing in American businesses
Laborsaving technological advances o 440,000 new …show more content…
Railroads: rapid transportation
Telegraph: invented by Samuel Morse in 1844 o Cyrus W. Field’s transatlantic cable improved overseas communication in 1866 o By 1900 telegraph lines linked all continents in a global network of cables
Telephone: invented by Alexander Graham Bell in 1876
Other inventions that improved business: typewriter (1867), cash register (1879), calculating machine (1887), adding machine (18880
Consumer use inventions: George Eastman’s Kodak Camera (1888), Lewis Waterman’s fountain pen (1884), King Gillette’s safety razor (1895)
Thomas Edison o Developed the world’s first modern research laboratory in Menlo Park, NJ o Edison’s lab produced over 1,000 patent