The 19th century US economy and armed forces needed industrial production of explosives (and fertilizer), eventually reaching monopoly status, and in turn the economy and armed forces supported the overseas Guano empire necessary to obtain those materials.
Description: A convergence of auto loans, reorganized home mortgages, and falling materials costs by 1910 launched the vast neighborhoods of durable bungalow single-family homes that brought white industrial workers into the American middle class and political power. (Bill and Rachel)
Unlocked from our Patreon: Bill and Rachel examine the evolution of the US timber industry during the Second Industrial Revolution away from raw material supply to mass-produced, manufactured forest products.
The 5th part of our miniseries on money itself during the 2nd Industrial Revolution in the US. Bill and Rachel look at the ideology of consumer finance, the rise of home and auto loans, and how the seeds of the 21st century financialization were planted long ago.