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1、Unit5AMERICANECONOMYIndustrialRevolutionFreeEnterpriseTheRootsofAffluenceAmericanAgricultureIntroductionofthefactorysystem“Americansystem”ofmassproductionTheapplicationofnewtechnologiestoIndustrialtasksEmergencyofnewformsofbusinessorganizationFourdevelo
2、pmentsFeature:gatheredmanyworkerstogetherinoneworkplaceandproducedgoodsfordistributionoverawidearea.Thefirstfactory:acottontextilemillinPawtucketRhodeIslandbuildbySamueSlater,whichcombinedcarding,rovingandspinningoperation.Turnedthenortheasternregionint
3、oanimportantmanufacturingcenterTheincreaseddemandforcottonmadetheUSAbecameamajorcottonproducerCottonGinPatent.Itshowssawtoothginblades,whichwerenotpartofWhitney'soriginalpatentEliWhitneyCareerinventionsInterchangeablepartsCottonginRiflesIn1913,theautoma
4、kerHenryFordintroducedthe“movingassembly”line.Thiswasavariationontheearlierpracticeofcontinuousassembly.Itmadepossibleamajorsavinginlabourandtimecosts.MassproductionofconsumergoodshelpedrevolutionizethewaysinwhichAmericanslived.SteamengineLocomotiveStea
5、mboatTextilefactoryPersonInventionDateJamesWattFirstreliableSteamEngine1775EliWhitneyCottonGin,Interchangeablepartsformuskets1793,1798RobertFultonRegularSteamboatserviceontheHudsonRiver1807SamuelF.B.MorseTelegraph1836EliasHoweSewingMachine1844IsaacSinge
6、rImprovesandmarketsHowe'sSewingMachine1851CyrusFieldTransatlanticCable1866AlexanderGrahamBellTelephone1876ThomasEdisonPhonograph,IncandescantLightBulb1877,1879NikolaTeslaInductionElectricMotor1888RudolfDieselDieselEngine1892OrvilleandWilburWrightFirstAi
7、rplane1903HenryFordModelTFord,AssemblyLine1908,1913NewinventionsBankThefirstcommercialbankBnkingpolicyNationalbank(in1863,astandardpapercurrency)(inthe1780s,“banknotes”represented)(Highlycontroversial,Shortlived)CorporationPartnershipSoleproprietorshipC
8、orporationEfficientlyinrisingcapitalneededbyexpandingbusinessesEfficientlyinrisingcapitalneededbyexpandingbusinessesInvestorsenjoyedlimitedliabilityInvestorsenjoyedlimitedliabilityIn1837,Connecticut,corporatecharterIn1837,Connect
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