The Rise of. Big Ballin
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1 The Rise of American Industry Today's Big Ballers Big Ballin
2 The Importance of Draw Railroads and label the Complimentary growth Railroads Effects of the Draw another example Railway System of a primary and complimentary system in today s economy
3 The Importance of Railroads Growth of the railroads creates lots of new industries iron, coal, steel, lumber, and glass all used to build trains and rails Spread of railroads also connected cities and towns that had been kinda isolated Could move HUGE amounts of their products all over the country How does government assist in the growth of the rail system? Should the government do this type of thing?
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5 "all freight leaving the seaboard MUST pass here and pay any
6 Birth of Big Business Andrew Carnegie Scottish immigrant Worked his way up from messenger to owner of a steel factory AWESOME businessman Tried to control steel industry as much as possible two ways vertical and horizontal integration At its height, Carnegie Company produced 80% of America s steel Was a HUGE philanthropist Universities, Free libraries, Hospitals, Parks, Concert halls, Swimming baths, Church buildings Gave away a tremendous amount of money, but with a catch
7 The two kinds of integration Vertical: you buy the supply companies that sell your business the raw materials it needs Example: If Sikora owns t-shirt company, how can he vertically integrate? How is this move beneficial? What are the pitfalls? Give 2 other vertical integration examples
8 Who does this well today?
9 Draw a modern example of government assistance to business Is this the proper role for the federal government to play? Why or why not?
10 Robber Barons or Captains of Industry???? John D. Rockefeller started Standard Oil Paid employees very low wages & sold oil very low to drive out competitors, then bought them as they went under Once he had control of the market, he hiked prices & and made $$$$ Also was a big philanthropist--$500 mil.
11 A few examples of mergers Horizontal: you buy out your competitors Example: if Sikora owns a car dealership, how can he horizontally integrate? How is this beneficial? What are the pitfalls? Give 2 other examples of horizontal examples What is it called when you are the only one to provide a product or service?
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19 Top 30 wealthiest Americans - EVER
20 Robber Barons or Captains of Industry - Uncle Milty Speaks More Robber Barons GREED is GOOD J. Pierpont Morgan banker Gained control of companies through stocks Created first billion-dollar corporation in 1901 Created US Steel Phillip D. Armour owned huge meat-packing co. in Chicago Once gave a man 1 mil to start a technical college for young men Illinois Institute of Technology today
21 John Oliver Weighs In on Current State of Mergers
22 Worker Exploitation
23 What would you suggest if this was your work situation? Modern Day Industry? 12 hours a day or more, 6 days/wk (can make you accident prone) No vacation, sick leave, unemployment compensation, OSHA rules or reimbursement for getting injured on the job 1882: average of 675 laborers died a wk in work accidents Children & women paid ½ of what men earned needed to work to help out families Often worked the most unskilled (& lowest paying) jobs
24 Workers of the World, UNITE!! Labor unions grow as a result of horrible working conditions (American Federation of Labor) Used collective bargaining (group negotiations) & strikes to get reforms like shorter work weeks and more pay Samuel Gompers labor activist and union leader Homestead Strike The event that changed America
25 What is the difference between Skilled and unskilled unions? What are the benefits and drawbacks of both? Knights of Labor American Federation of Labor
26 The most dangerous woman in America Mary Harris Jones aka Mother Jones Irish immigrant and union organizer Great speaker and got lots of women involved in the labor movement Pray for the dead and fight like hell for the living!
27 Why Labor Concerns Fall on Deaf Ears Capitalists violently opposed unions Refused to negotiate w/union representatives, fired union members, forbade union meetings Federal gov steps in and passes laws saying that strikes/boycotts/ picket lines cannot interfere with interstate trade (injunction) Unions slowly lose members and power Important terms: Yellow dog, lockout, black list, company town, spies, Corporate incentives soon to come.
28 How do we feel about the current state of America's wealth? Or this?
29 Social Darwinism Based on Darwin s natural selection within in a species, some with particular traits die out and others with different traits live and pass those successful traits to their offspring and so on applied by social theorists to people you re rich and successful because you have some trait that allows you to be so, the poor are poor because they are lazy or inferior and deserve their lot in life Government/society should not intervene this was a natural process to weed out the weaker individuals There are no social services poor are
30 How does this concept apply to the social scientists of Industrialism?
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