常用短语
influence the pace and course of business growth
by lowering cost
they also played an important impact on the growth of certain cities
transformed from a spot in the wilderness to a thriving metropolis as a result of the construction of sth
capital requirements
investment banker
stress of competition
auto industry
P1 Direct influence of railroad development: land value enhancement and city growth
P2 Indirect influence of railroad: fostering new industries: investment banking, new BIZ organization, highways.
P3 1. development of railroad opens job opportunities directly and indirectly in relevant building material industries.
2. railroad vs auto: no one railroad company dominates the industry, but auto did: Ford and GM.
P1: Transportation developments have greatly influenced the pace and course of business growth.
-turnpike and canal system impact vs railroads: railroad pioneered many aspects of business administration and enhance land values enormously
P2: Railroad characteristic:
1. large capital requirement;
2. intense competitive in construction and operation which leading new form of business organization such as pools and consolidation.
3. Vital to the nation and tied with the business cycle.
P3: present the beneficial of railroad on jobs and provide historical evidence. Also, author mentioned in the last that no one railroad ever dominated the rail industry.