Changes
resulting from the Industrial Revolution
zFactories: places of concentration of workers
zMachines replacing labor: increased production, semi-skilled/unskilled
labor, standardized production
zMass production: lower cost of production with increased volume (economies of scale)
zScientific management: Frederick W. Taylor
zSpecialization of labor: increased efficiency, alienation
zMajor catalysts of change: the railroads and the banking industry