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In 1900, two-thirds of the nation's... citizens still lived in rural communities... But that was changing rapidly , thanks in large part to the explosive growth of manufacturing. ...wo-thirds of the nation's output was in manufactured goods, even though manufacturing employed less than a quarter of the work force. The average plant producing petroleum, iron and steel, and textiles ... were belied by the behemoth factories... Carnegie... christened the new century by selling his sprawling steel interests to J. P. Morgan, who promptly assembled the $1.4 billion United States Steel Corporation in 1901, the nation's first billion-dollar industry.
Still, American manufacturing was then churning out a tiny fraction—roughly 1 percent...—of what today's cleaner and enormously more efficient plants produce. (en) |
