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The Incorporation of America

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Title: The Incorporation of America


1
The Incorporation of America
2
Political Changes of the Gilded Age
  • Changes due to INDUSTRIALIZATION
  • Business corrupts politics

3
Social Darwinism
  • British economist.
  • Advocate of laissez-faire.
  • Adapted Darwins ideas from the Origin of
    Species to humans.
  • Notion of Survival of the Fittest.

Herbert Spencer
4
New Business Culture
  1. Laissez Faire ? the ideology of the
    Industrial Age.

Individual as a moral and economic
ideal. Individuals should compete
freely in the marketplace. The
market was not man-made or invented.
No room for government in the market!
5
The Bosses of the Senate
6
Regulating the Trusts
  • 1887 ? Interstate Commerce Act
  • Creates Interstate Commerce Commission
  • Attempts to regulate the Railroads
  • 1890 ? Sherman Antitrust Act in restraint
    of trade rule of reason loophole

7
Causes of Rapid Industrialization
  • Technological innovations. Bessemer and open
    hearth process
  • Refrigerated cars
  • Edison ? Wizard of Menlo Park
    ? light bulb, phonograph, motion
    pictures.

8
Causes of Rapid Industrialization
  • The Railroad fueled the growing US economy
  • First BIG business in the US.
  • The key to opening the West.
  • Moving raw materials and consumer
    products was much easier
  • Increased demand for all products
  • INCREASED DEMAND INCREASED PRODUCTION

9
Thomas Alva Edison
  • Wizard of Menlo Park

10
Electricity
  • Reliable Energy
  • Powered factories
  • Causes industrial Expansion through faster
    production
  • Creates lots of new factory jobs

George Westinghouse
11
The Light Bulb - 1880
  • Greatest American Inventor

Wizard of Menlo Park
Thomas Edison
12
Alexander Graham Bell
Telephone(1876)
Communication helps to speed the growth of
business
13
1866, CARNEGIE INVESTED IN THE BESSEMER
PROCESS.
  • JULY 1892 WITH 25,000,000 CREATED CARNEGIE
    STEEL CORPORATION
  • PRODUCED 1/4 OF THE WORLDS STEEL.

14
Geography
The abundant natural resources of America fuel
the growth of big business
15
Free Enterprise System
  • 1. Unskilled semi-skilled labor in abundance.
  • 2. Abundant capital.
  • 3. New, talented group of businessmen
    entrepreneurs and advisors.
  • Market growing as US population increased.
  • Government willing to help at all levels to
    stimulate economic growth.
  • Abundant natural resources.

16
John Jacob Astor Fur Trading, Real Estate, and
Opium
17
Andrew Carnegie - Steel
18
William Vanderbilt
  • The public be damned!
  • What do I care about the law? Haint I got the
    power?

19
Cornelius Commodore Vanderbilt
Cant I do what I want with my money?
20
Cornelius Vanderbilt The Biltmore Largest
House in the U.S.
21
Wealth Concentration Held by Top 1 of Households
22
New Type of Business Entities
  • Horizontal Consolidation ? John D.
    Rockefeller

Vertical Consolidation
Andrew Carnegie ? U. S. Steel
23
New Type of Business Entities
  • Trust ? (monopolies) Combining multiple companies
    to create larger companies
  • Trusts allow profits to skyrocket!

THE RICHEST MAN EVER
24
  • Because of increased profits, companies had money
    to invest in research, which leads to MORE
    technological advancements and greater efficiency
  • Time Study Analysis

25
The Reorganization of Work
The Assembly Line
26
The Phonograph (1877)
27
The Ediphone or Dictaphone
28
The Motion Picture Camera
29
The Telegraph - 1844
30
The Robber Barons of the Past
31
B. Social Darwinism
  • British economist.
  • Advocate of laissez-faire.
  • Adapted Darwins ideas from the Origin of
    Species to humans.
  • Notion of Survival of the Fittest.

Herbert Spencer
32
2. Social Darwinism in America
  • Individuals must have absolute freedom to
    struggle, succeed or fail.
  • Therefore, state intervention to reward society
    and the economy is futile!

William Graham SumnerFolkways (1906)
33
  • ANDREW CARNEGIE
  • IMMIGRANT FROM GLASGOW, SCOTLAND
  • WORKED IN PITTSBURGH, BOBBIN BOY FOR 1.20 A
    WEEK.
  • SAVED MONEY CHARMED INVESTORS TO ENTER THE
    RAILROAD BUSINESS.
  • 1861 STARTED 1ST BUSINESS IN IRON.

34
On Wealth
  • Gospel of Wealth (1901).
  • Inequality is inevitable and good.
  • Wealthy should act as trustees for their
    poorer brethren.
  • Gave away his vast Fortune
  • Education/Arts

Andrew Carnegie
35
The Gospel of WealthReligion in the Era of
Industrialization
  • Wealth no longer looked upon as bad.
  • Viewed as a sign of Gods approval.
  • Christian duty to accumulate wealth.
  • Should not help the poor.

Russell H. Conwell
36
  • E. JOHN D. ROCKEFELLER
  • HARD WORKING
  • GREAT MIND FOR S AND
  • MATH
  • IRON NERVES, DECISIVE,
  • PRECISION, CAUTION,
  • GREAT STRATEGIST AND
  • FORECASTER

37
  • STARTED OWN BUSINESS AT 20.
  • 1865 - ENTERS THE OIL BUSINESS
  • HIRES HIS BROTHER
  • OPENS STANDARD WORKS.
  • 1868 - ROCKEFELLER IS THE LARGEST
  • OIL REFINER IN THE WORLD
  • 1870 - CREATED
  • STANDARD OIL COMPANY

38
Standard Oil Co.
39
  • 1879 REFINED 90 OF THE OIL IN U.S. 70 EXPORTED
    OVERSEAS.
  • 1904 - 80 OF AMERICAN TOWNS SERVICED BY
  • STANDARD OIL COMPANY
  • 1912 ROCKEFELLERS FORTUNE PEAKED AT
    900,000,000 !!
  • DIED WITH 26,410,237 AND GAVE MOST AWAY TO
    FOUNDATIONS AND HEIRS.

40
The Protectors of Our Industries
41
The Work Force
  • Immigrants
  • Women
  • Children

42
Sweat shop
  • Long Hours, low wages, unsafe conditions

43
The Work Environment
  • Dirty
  • Dangerous
  • Long Hours

44
Children at Work
  • Jacob Riis
  • Work was very dangerous for kids
  • Dirty work environment led to health problems for
    kids

45
  • Kids couldnt attend school
  • Families needed the money
  • Kids were paid less

46
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47
Growing Gulf Between the Rich and the Poor
Karl Marx
  • Socialism redistribution of wealth

48
Rise of Labor Unions
  • Labor unions began to form to protest worker
    wages, safety and hours
  • American
  • Federation of Labor
  • (AFL)

49
Railroad Strike of 1877
50
Haymarket Riot - 1886
51
Homestead Strike 1892
52
Pullman Strike 1894
  • Government helps Big Business because the
    strikers are interfering with the mail.
  • This sets the pattern of government response to
    strikes for years to come.

53
  • Public sympathize with the strikers until the
    anarchists arrive
  • The public begins to associate unions and strike
    with anarchists and violence
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