The Industrial Revolution
The Industrial Revolution
The Industrial Revolution
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
1700 -1920<br />
New Roles for Business Leaders<br />
• Capitalism – thrives in England and led to theory that government<br />
should not interfere. Private ownwership<br />
• Laissez-faire – little government interference in a nation’s economy.<br />
• Adam Smith – <strong>The</strong> Wealth of Nations - markets free from government<br />
interference benefited all.<br />
• Thomas Malthus – population growth caused by the development of<br />
industry<br />
• Entrepreneur – someone who starts a new business<br />
– Andrew Carnegie – American steel industry<br />
– Cornelius Vanderbuilt – Railroad industry<br />
– John D. Rockefeller – Standard Oil
Change language