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C O U R S E 
A History of the World since 1300
Jeremy Adelman, Princeton University
C O U R S E   L E C T U R E 
The Second Industrial Revolution
Notes taken on June 7, 2016 by Edward Tanguay
the 19th century saw a drive to reorganize the world economy on new principles
instead of the mercantilist empires pulling the parts of the world together
empires began reaching into the hinterlands
now what we see are different relationships emerging based on the flows of labor, capital, and commodities dictated by market forces
a global economic system which was reinforced by a deepening industrial revolution
intensified the process of specialization around the world
a shift from organic to inorganic energy sources
beginnings of factory production
the expansion of markets
creating whole new frontiers
opening the way and opened by railroad and credit expansion
markets were no longer local and coastal
now penetrating deep into interiors
the second industrial revolution
after 1850, this process intensifies
a shift from the first industrial revolution to the second industrial revolution
this expansion into the hinterlands is a second phase in the development of capitalism
a shift from textile and steam to iron and steel
Bessemer Steel
by the 1870s a technical method was developed which puddled iron into steel
made metal tougher, more resistant and more malleable
perfect for a new machine age
now energy because of the scale of these new steel plants, energy had to be brought to the production location
before that we located our production where the source of energy was: windmills, and factories around sea ports
oil, coil and electricity gave factory location much more flexibility
more centralized pattern of ownership
from families owning textile plants
much more vertically integrated companies
by late 19th century dominant companies come into being
Westinghouse Electric (1886, Pittsburgh)
General Electric (1889, New York)
U.S. Steel (1901, Pittsburgh)
AEG (1883, Berlin)
Siemens (1847, Berlin)
Zaibatsu (late 19th century, Japan)
large family-controlled vertical monopolies consisting of a holding company on top, with a wholly owned banking subsidiary providing finance, and several industrial subsidiaries dominating specific sectors of a market, either solely, or through a number of subsidiary companies
iron corporations of Britain could no longer compete with steel
economic driver of the second industrial revolution
the Lee–Enfield rifle
much of science driven by military logistics
Crimean war (1853-1856)
the ability to take out your enemy depended as much on your ability to field new war machinery as it was on military tactics
this also began leading up to the ability for societies to wage total warfare, wars of annihilation
once you harness the second industrial techniques and technology
consumer goods
people scarcely imagined existing before
machinery to build machines had to be created
industrialization goes more global
United States, Germany, Russian, Japan became industrial nations
fanning out to the rest of the world
industries move to other global locations
change global markets of labor
provide new set of demands for energy
coal and petroleum became very important inputs for this process
the gulf between the cities and countries grows
conglomerate companies would run production of coal and petroleum all the way to consumer goods
Andrew Carnigie (1835-1919)
John D. Rockefeller (1839-1937)
the new economic titans of this new age, replacing the old mercantile elites
mass production
changed the ways in which work was conducted
or a deepening of a process from the first industrial revolution
the assembly line
Ford's Model T
works are all tasked with doing one thing
specializing in one part of the process
brought increasing productivity
in a similar way, entire societies were becoming specialized producers of specific commodities