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Late 19th century industrialization depended on developments in technology and business strategy. What were some of the innovations in both arenas how did they facilitate the development of industry?
Wiki User
∙ 10y ago
Late 19th century discoveries in chemistry and Metallurgy allowed for a greatly increased range of products to be manufactured. Changes in business methods included the formation of "trusts": vertical or horizontal monopolies. Railroads made it much easier to bring raw materials to manufacturing centers and get the products to customers. The railroads also made it possible for the bigger customers to get more favorable rates than smaller competitors. Customers got cheaper products, but at the cost of small manufacturers and craftsmen being pushed out of business. These practices led to government intervention an regulation by the early 20th century
Wiki User
∙ 10y ago
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