Industrial Age 13

New Glossary Terms • Corporation • Monopoly • Trust

Classify a table of at least Please classify the following terms into three columns. Each column must have a title. Use Chapter 13.2 as a guide: Telegraph Automobile Airplane Bessemer Light bulb Phonograph process Tractor Sewing Machine Elevator Suspension Street Car Barb Wire Bridge Skyscraper Telephone

Rankings Please rank the terms from most important to least important in terms of their impact on society. Telegraph Automobile Airplane Bessemer Light bulb Phonograph process Tractor Sewing Machine Elevator Suspension Street Car Barb Wire Bridge Skyscraper Telephone

The Industrial Age

Oil! ★ First Found in Titusville, Pennslyvania ★ Kerosene kept the lights on. ★ Gasoline was thrown away

Bessemer Process

Bessemer Process • Cheap way to create steel. • Railroads quickly took advantage of all the cheap metal. • Barbed wire changed the west.

Pollution

Railroads • “Railroad Time” • Telegraph • Land Grants

Scientiﬁc Management • Coined by Frederick Taylor • Taylor used motion and time studies to optimize factories and assembly lines for optimal efﬁciency.

We don’t need no Education.

Do you agree or disagree with the following statement? 5 minute response • “It will be a great mistake for the community to shoot the millionaires,” he said, “for they are the bees that make the most honey, and contribute most to the hive even after they have gorged themselves full.” -Andrew Carnegie

3 Details about the cartoon, 2 conclusions about the cartoon, 1 question about the cartoon

Monopoly

Monopoly • This term describes a company’s control of an industry’s production, quality, wages paid, and prices charged.

Merger

Merger • The act of one company buying out the stock of another, forming one larger company:

Trusts • In this arrangement, separate companies are run as a large company. Stockholders agree to let a group of trustees manage the company, and companies are able to set prices and limit competition

Vertical Integration

Rocco’s Rockers

Trucking Company Rocco’s Rockers Trucking Company

Trucking Company Rocco’s Rockers Trucking Company Lumber Company

Store Trucking Company Rocco’s Rockers Trucking Company Lumber Company

Store Trucking Company Rocco’s SuperMega Rocco’s Rockers Rocker City Trucking Company Lumber Company

Vertical Integration • The method of doing business that includes control of raw materials, transportation, and manufacturing:

Horizontal Integration

Horizontal Integration • The method of business that includes buying out all competitors.

Camella Teoli Please answer the following questions on your paper after hearing the testimony • What was Teoli’s job? • Where did she work? • How old was she? • Why did she end up working instead of going to school? • What was her job like? • Why did she decide to go on strike? • Do you think that the chairman is sympathetic towards Camella? Why or why not?

Do we live in a gilded age? • 5 minutes

• With whiteboards: Using Sections 14.3, 14.4, and 14.5 • Please come up with at least 3 strategies that labor unions employed in their attempt to improve worker’s lives • Please come up with at least 3 strategies that employers used to keep Unions from getting power.

Laissez-faire • The belief that businesses should be left alone by government

Social Darwinism • This belief included the notion that some people ﬂourish, and others don’t, due to natural selection: weak are weeded out, enabling the strong to survive - survival of the ﬁttest. • Rich are in God’s favor, poor deserve their bad life.

TRUSTBUSTERS! S ST RU T

Sherman Anti-Trust Act • Bust trusts that illegally decreased competition and free trade. • Very vaguely written and Supreme Court didn’t enforce.

Robber

+ = Robber Baron

Captain of Industry +

Robber Barons or Captains of Industry? The Importance of Industrialists to American Social and Economic Growth

$100,000,000

$2,335,927,735.98

Andrew Carnegie

Andrew Carnegie • Emigrated from Scotland • Poor, worked his way up (cotton mill, telegraph messenger, private secretary), • Bought stock, then more, and ﬁnally entered the steel business, eventually building his own empire.

Carnegie’s Success

Carnegie’s Success • Good Management, research, accounting, better products more cheaply, stock offerings to staff

John D. Rockefeller • Standard Oil, within a decade of its founding in 1870, was reﬁning 90% of the nation’s oil. • Paid his workers low wages and drove out his competitors.

John D. Rockefeller $1,400,000,000

John D. Rockefeller $196,083,067,379

Philanthropists • term applies to industrialists who actively promoted human welfare and gave generously to institutions that beneﬁted all Americans:

Industrial Age 13

by mrhornblower on Oct 08, 2009

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