Business and Labor in the

Industrial Age

The Industrialization of America

The Industrial Revolution swept through America in only one generation

By 1900, the United States was the leading industrial power in the world

This was aided by America's abundant natural resources, investment capital from Europe, a cheap immigrant workforce, and huge urban centers which demanded consumer goods

These characteristics provided the United States with the ability to surpass Great Britain in industrial development

Robber Barons

The business economy was dominated by huge corporations

Out of this, great monopolies were created and only a few dozen companies controlled all the industry in the country

These were the "captains of industry" and "robber barons" (depending on your point of view) of old

The country was owned by people like Carnegie, Rockefeller, Vanderbuilt, and J.P. Morgan