“ Big Business” & The Workers
Workers Today <ul><li>Workers have a minimum wage </li></ul>
Workers Today <ul><li>Have unemployment benefits </li></ul><ul><li>Welfare programs </li></ul><ul><li>Disability Opportuni...
“Big Business” – 1800 Economy <ul><li>How is business different from today? </li></ul><ul><ul><li>Oligopoly: A market stru...
“ Robber Barons” or “Captains of Industry”? <ul><li>John D. Rockefeller </li></ul><ul><ul><li>Standard Oil Company – Combi...
“ Robber Barons” or “Captains of Industry”? <ul><li>Horizontal Consolidation </li></ul>Small Oil Refineries Small Oil Refi...
“ Robber Barons” or “Captains of Industry”? <ul><li>Andrew Carnegie </li></ul><ul><ul><li>Carnegie Steel </li></ul></ul><u...
“ Robber Barons” or “Captains of Industry”? <ul><li>Vertical Consolidation: </li></ul>Coke Fields Iron Ore Deposits Steel ...
“ Robber Barons” or “Captains of Industry”? <ul><li>What are some examples of Vertical and Horizontal Industry Today? </li...
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Big business

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Big Business during early Industrialization

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Big business

  1. 1. “ Big Business” & The Workers
  2. 2. Workers Today <ul><li>Workers have a minimum wage </li></ul>
  3. 3. Workers Today <ul><li>Have unemployment benefits </li></ul><ul><li>Welfare programs </li></ul><ul><li>Disability Opportunities </li></ul><ul><li>What else do workers have access to? </li></ul><ul><li>Think about these as we look at 1800 Business </li></ul>
  4. 4. “Big Business” – 1800 Economy <ul><li>How is business different from today? </li></ul><ul><ul><li>Oligopoly: A market structure dominated by only a few large, profitable firms. </li></ul></ul><ul><ul><li>Monopoly: Complete control of a product or service. </li></ul></ul><ul><ul><li>Cartel: Loose association of business that make the same product. </li></ul></ul>
  5. 5. “ Robber Barons” or “Captains of Industry”? <ul><li>John D. Rockefeller </li></ul><ul><ul><li>Standard Oil Company – Combined with Drake </li></ul></ul><ul><ul><li>Bought independent oil refineries combined to form Standard Oil Company. </li></ul></ul><ul><ul><li>Grows business through horizontal consolidation </li></ul></ul>
  6. 6. “ Robber Barons” or “Captains of Industry”? <ul><li>Horizontal Consolidation </li></ul>Small Oil Refineries Small Oil Refineries Small Oil Refineries Small Oil Refineries Small Oil Refineries Small Oil Refineries Standard Oil Company
  7. 7. “ Robber Barons” or “Captains of Industry”? <ul><li>Andrew Carnegie </li></ul><ul><ul><li>Carnegie Steel </li></ul></ul><ul><ul><li>Bought all of the products and businesses required to make his steel. </li></ul></ul><ul><ul><li>Vertical Consolidation </li></ul></ul>
  8. 8. “ Robber Barons” or “Captains of Industry”? <ul><li>Vertical Consolidation: </li></ul>Coke Fields Iron Ore Deposits Steel Mills Ships Railroads Carnegie Mansion
  9. 9. “ Robber Barons” or “Captains of Industry”? <ul><li>What are some examples of Vertical and Horizontal Industry Today? </li></ul><ul><li>Who is running these large companies? </li></ul><ul><li>How have these industries and markets of the 1800’s treated their workers? </li></ul>
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