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