Capital individualistic
Classified in Geography
Written at on 
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Changes 2IR:
New sources of finance:A join-stock company was a companymade up of individuals who each contributed a part of the capital. Each bought shares in the business, and received profits or losses./The bank lent money to businesses in return for interest. This led to a union between financial and industrial capital./The stock exchange was amarketplace where shares in companies were brought and sold.
New technological advances:Led to an increase in production and industrial development./The improvement of the Bessemer converter helped lower the cost of producing steel./Dynamite, stainless steel, and artificial fibres, such as artificial silk made form cellulose, were important innovations and inventions of this era.
New sources of energy:They were coal and gas, and electricity and oil. Electricity: hydroelectric generator to produce electricity for factories. Installation of electric cables to provide homes and factories with electricity. Thomas Edison invented the electric lightbulb, which replaced gaslights in factories, streets and homes./Oil: new fuels such as kerosene and petrol were produced from oil in oil refineries. The importance of petrol grew with the development of the petrol-powered car in the late 19th century. Rockefeller later founded the Standard Oil Company, the world’s largest oil company.
New business structures/New industries