New Industrial Age

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    New Industrial Age - Presentation Transcript

    1. Growth of Big Business Brought to you by Local Sweatshop Laborers Mr. Hyer Room 108
    2. Take Careful Notes Today I’m Giving You the Secret Formula of How to become a GazillionMillionBillionaire
      • Identify management and business strategies that contributed to the success of business tycoons such as Andrew Carnegie.
      • Explain Social Darwinism and its effects on society.
      Learning Objectives
    3. Causes of Rapid Industrialization
      • Steam Revolution of the 1830s-1850s
      • The Railroad fueled the growing US economy:
        • * First big business in the US.
        • * A magnet for financial investment.
        • * The key to opening the West.
        • * Aided the development of other industries.
    4. Causes of Rapid Industrialization
      • Technological innovations. * Bessemer Process (Steel)
        • * Refrigerated cars * Edison  “Wizard of Menlo Park”  light bulb, power plants
        • * Extension of Work day
    5. Causes of Rapid Industrialization
      • Unskilled & semi-skilled labor in abundance.
      • Abundant capital.
      • 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.
    6. U. S. Patents Granted 1790s  276 patents issued. 1990s  1,119,220 patents issued.
    7. Late 19 th Century Business Ideology
      • Laissez Faire
      • Social Darwinism
      • Laissez Faire
      • Power to the Individual
      • Market Not Man-made or invented
      • Individuals Compete Freely in Marketplace
      • No room from government interference
    8. Social Darwinism A Dubious Business “Theory” based on the Work of Naturalist Charles Darwin. The Origin of Species (1859)
    9. Darwin’s “The Origin of Species.” This is a first edition.
      • Based on the research of Charles Darwin
      • Earth is billions of years old
      • All life forms, including humans, developed gradually over several million
      • Natural selection
      • Mutated genes create changes over time
      • Meaning the organisms best adapted to their environment survive above others
      EVOLUTION
    10. “ Survival of the Fittest” ???
      • Society, like the jungle, fostered a ruthless struggle for survival
      • The fit survive and spread
      • The weak perish
      • Instead of tooth and claw, the struggle is economic
      • Government interference to reward society and the economy is futile
      • This “natural selection” necessary for the advancement of human race
      • Carnegie adds to this grim concept: “ Gospel of Wealth :” the economic winners have a responsibility to those below. (What a guy!)
      Individuals must have absolute freedom to struggle, succeed or fail Hello, Little People
    11. Carnegie I’m so full of Contradictions The “theory” he loved so dearly lacked consistency He argued against Government Regulation He welcomed Government Assistance (tax abatements, grants, tariffs, etc.
    12. Economies of Scale With faster machines, businessmen discover:
      • Cost per unit decrease as number of units produced increase
      • More raw product purchased, the cheaper suppliers’ asking price
      • The closer capacity they kept new, faster machines running, the less the cost of labor and electricity
      • The lower their costs, the cheaper they could sell their products
      • The cheaper the product, the more they sold
      Huge Profits
    13. Horizontal Integration John D. Rockefeller (Standard Oil Company)
    14. Vertical Integration Andrew Carnegie (U.S. Steel) Gustavus Swift  Meat-packing
    15. Vertical Integration Holding Company
      • Own controlling interest in:
      • Production of raw material
      • Transportation to factory
      • The factory itself
      • Distribution network of product
      Monopoly of Entire Industry
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    17. Horizontal Integration Purchase or Put out of Business Competing Firms Trusts Ex: Oil, Whiskey, Sugar, Lead, Railroads
    18. U. S. Corporate Mergers
    19. World’s Industrial Output
    20. Who’s Winning? Who’s Losing?
    21. The “Robber Barons” of the Past
    22. “ The Bosses of the Senate”
    23. “ The Protectors of Our Industries”
    24. Time for Government Intervention? Gov’t: Expansion of Mergers and Trusts Stifling Free Market Sherman Anti-Trust Act (1890)
      • This federal law forbid any “combination…or conspiracy in the restraint of trade” between states or with other countries.
      • Difficult to enforce (“Trust” not clearly defined.)
      • Supreme Court overturned 7 of 8 cases against Trusts
      • Companies reorganized to avoid “Trust” designation
      • Better laws to come (Watch out for Teddy and Taft)
    25. Coming Attraction Workers of the World Unite
    26. Labor Unions Emerge
      • Summarize the emergence and growth of unions.
      • Explain the violent reactions of industry and government to union strikes.
      Learning Objectives
    27. The Changing American Labor Force
    28. Why Labor Unions?
      • Seven Day Workweeks
      • 12 -14- hour workdays
      • Low Wages
      • No Vacation Time
      • No Sick Leave
      • No Disability Insurance
      • No Healthcare
      • No Unemployment Compensation
      • Dangerous Working Conditions
    29. The Tournament of Today: A Set-to Between Labor and Monopoly
    30. What Are Labor Unions?
      • Trade Union = Group of SKILLED workers within single trade
      • American Federation of Labor (Led by Samuel Gompers ) – Confederation of trade unions (Skilled workers)
      • Unskilled Workers Unions would form a few years later – one of these is led by Eugene V. Debs (Socialist)
      • Early Labor Unions excluded immigrants and blacks
    31. Labor Unions = Dangerous Ideas
      • Unions Considered Radical Organizations
      • Utopian or Socialistic Leanings
      • Government Wary of Supporting Them
      • Businesses and Courts Hostile to Them
      Socialism – An economic system in which the government owns most of the major means of production and distribution. (Coal, steel, transportation) Other industries privately owned. Reduces inequality among citizens.
    32. “Bread and Butter” Issues
      • Higher Wages and Shorter Workdays
      • Avoid Larger Political Issues
      • Easier to Achieve Reform with Business Owners than through Gov’t Sponsored Reform Laws
      Samuel Gompers
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    37. Haymarket Square Riot – Public Begins to Turn Against Unions (1886)
      • Only organized a small fraction of workers (Not enough members to push business owners to change)
      • Business owners had too much money and power to bend to union demands
      • Government tended to support corporations and not the unions
      • It won’t be until the 1930s when the Union’s gain real power
      Unions’ Weaknesses
    38. Mary Harris Jones “ Mother” Jones
      • Helped Push for Child Labor Reform
      • Organized Women Workers
    39. Triangle Shirtwaist Factory Fire! Shirtwaist Tragedy Leads to Better Workplace Conditions
      • 3 or 4 doors locked to prevent theft
      • Faulty Fire Escape
      • No Sprinklers – too expensive
      • Owners avoid jail – pay $75 per death (146 x $75 = $10,975)
    40. Asch Building 8th, 9th & 10 th Floors
    41. Thank Goodness, the Firemen have arrived!! OOPS!
      • Ladders only reach to six floor – fire is on 8,9 & 10
      • Pumps can raise water to 9 & 10
      • Don’t worry – building is “fire proof”
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