American Foreign Trade: 1870-1914 1. ECONOMIC: Commercial/Business Interests.
The Victorian Era, 1870 - 1914: Victorian Economics
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The Victorian Era, 1870 - 1914: Victorian Economics AP European History Androstic 2012-2013
description
The Victorian Era, 1870 - 1914: Victorian Economics. AP European History Androstic 2012-2013. Overview. From 1870 to 1914, Europe had rapid economic growth The basics of our modern economies emerged Topics Second Industrial Revolution Free Trade The Gold Standard Corporations. - PowerPoint PPT Presentation
Transcript of The Victorian Era, 1870 - 1914: Victorian Economics
The Victorian Era, 1870 - 1914:Victorian Economics
AP European HistoryAndrostic2012-2013
Overview
•From 1870 to 1914, Europe had rapid economic growth•The basics of our modern economies emerged•Topics
•Second Industrial Revolution•Free Trade•The Gold Standard•Corporations
Second Industrial Revolution
Refined Steam EngineInternal Combustion
Engine
AC Motor
Telephone
Alfred Nobel
Bessemer Steel
Still from Georges Melies A Trip to the Moon (1902)
Free Trade
•Free Trade the mantra of most states•But most states imported more than they exported - opposite of mercantilism•How can you spend more than you make?
•Export of European capital•Invested money outside the country•Invested money yielded returns - profits and interest•Allowed for a rise in standards of living domestically and internationally - especially in the USA
Gold Standard
Boom and Bust Cycle
Corporations
John D. Rockefeller
Summary•The Second Industrial Revolution led to an incredible growth in energy source - oil!•New technologies “enlightened” Europe•The modern business structure emerged
•Boom and bust cycle•Corporations, monopolies, and trusts
•Captains of industry grew fabulously wealthy
