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(23.3) The Growth of Industry

Spread of Industry, Growth of Big Business, Science and Industry

AB
industrial capitalismindustrial expansion motivated by the search for profit
Eli Whitneycame up with the idea of interchangeble parts
Frederick Taylorcame up with the idea of division of labor
Henry Fordused assembly lines in his factories
partnershipsbusiness organizations involving two or more entrepreneurs
corporationstockholders own shares in a company
depressionlowest point in a business cycle
Samuel Morseinvented the telegraph
Guglielmo Marconiinvented the wireless telegraph (radio)
Alexander Graham Bellinvented the telephone
Thomas Edisoninvented the phonograph
Rudolf Deiseldeveloped the oil burning internal combustion engine
Wilbur and Orville Wrightfirst motorized airplane


Mills E. Godwin

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