By: Ms. Susan M. P                       ojerHorace Greeley HS Chappaqua, NY
Essential Question   Industrializationincreased the standard    of living and the opportunities of most       Americans,  ...
Causes of Rapid I ndustrialization1. Steam Revolution of the 1830s-1850s.2. The Railroad fueled the growing US   economy: ...
Causes of Rapid I ndustrialization  3. Technological innovations.       Bessemer and open hearth        process       Re...
T as Alva Edison hom“Wizard of Menlo Park”
T Light Bulb he
T P he honograph (1877)
T Ediphone or Dictaphone he
T Motion P he       icture Camera
Alexander GrahamBell    Telephone (1876)
Alternate Current George Westinghouse
Alternate Current Westinghouse Lamp ad
T Airplane        heWilbur Wright       Orville Wright Kitty Hawk, NC – December 7, 1903
Model TAutomobile             Henry FordI want to pay my workers so that they can            afford my product!
“Model T P        ” rices & Sales
U. S P    . atents Granted 1790s  276 patents issued. 1990s  1,119,220 patents issued.
Causes of R  apid  I ndustrialization4. Unskilled & semi-skilled   labor in abundance.5. Abundant capital.6. New, talented...
New Business Culture1. Laissez Faire  the ideology of the                   Industrial Age.    Individual as a moral and...
2. Social Darwinism                  × British economist.                  × Advocate of                    laissez-faire....
2. Social Darwinismin America                        $ Individuals must                          have absolute            ...
New Business Culture:       “The American Dream?”3. Protestant (Puritan) “Work Ethic”      Horatio Alger [100+ novels]Is ...
New T of Business Entities          ype1.    Pool       1887 Interstate Commerce Act            Interstate Commerce     ...
Standard Oil Co.
New T of Business Entities         ype2. Trust:     Horizontal Integration  John D.                                   Ro...
I ron & S P         teel roduction
New T of Business Entities     ype
U. S Corporate Mergers    .
New Financial BusinessmanThe Broker:    J. Pierpont Morgan
all treet – 1867 & 190 0W S
T R  he eorganization of Work           Frederick W. TaylorThe Principles of Scientific Management (1911)
T R he eorganization of Work      The Assembly Line
% of Billionaires in 1 0                      90
% of Billionaires in 1 8                      91
T P he rotectors of Our Industries
T ‘Bosses’ of the Senate he
T ‘R he obber Barons’ of the Past
Cornelius [“Com odore” ] Vanderbilt               m   Can’t I do what I want with my money?
WilliamVanderbilt$ The public be damned!$ What do I care about the law? H’aint I got the power?
T Gospel of W     he          ealth: Religion in the Era of I ndustrialization$ Wealth no longer  looked upon as bad.$ Vie...
“On Wealth”                  $ The Anglo-Saxon race                    is superior.                  $ “Gospel of Wealth” ...
Regulating the Trusts1877  Munn. v. IL1886  Wabash, St. Louis & Pacific        Railroad Company v. IL1890  Sherman Anti...
Relative Share of World    Manufacturing
Modern ‘Robber Barons’??
Upcoming SlideShare
Loading in …5
×

Rise of Big Business

3,286 views

Published on

Published in: Education, Business, Career
  • Be the first to comment

Rise of Big Business

  1. 1. By: Ms. Susan M. P ojerHorace Greeley HS Chappaqua, NY
  2. 2. Essential Question Industrializationincreased the standard of living and the opportunities of most Americans, but at what cost?
  3. 3. Causes of Rapid I ndustrialization1. Steam Revolution of the 1830s-1850s.2. 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. 4. Causes of Rapid I ndustrialization 3. Technological innovations.  Bessemer and open hearth process  Refrigerated cars  Edison o “Wizard of Menlo Park” o light bulb, phonograph, motion pictures.
  5. 5. T as Alva Edison hom“Wizard of Menlo Park”
  6. 6. T Light Bulb he
  7. 7. T P he honograph (1877)
  8. 8. T Ediphone or Dictaphone he
  9. 9. T Motion P he icture Camera
  10. 10. Alexander GrahamBell Telephone (1876)
  11. 11. Alternate Current George Westinghouse
  12. 12. Alternate Current Westinghouse Lamp ad
  13. 13. T Airplane heWilbur Wright Orville Wright Kitty Hawk, NC – December 7, 1903
  14. 14. Model TAutomobile Henry FordI want to pay my workers so that they can afford my product!
  15. 15. “Model T P ” rices & Sales
  16. 16. U. S P . atents Granted 1790s  276 patents issued. 1990s  1,119,220 patents issued.
  17. 17. Causes of R apid I ndustrialization4. Unskilled & semi-skilled labor in abundance.5. Abundant capital.6. New, talented group of businessmen [entrepreneurs] and advisors.7. Market growing as US population increased.8. Government willing to help at all levels to stimulate economic growth.9. Abundant natural resources.
  18. 18. New Business Culture1. Laissez Faire  the ideology of the Industrial Age.  Individual as a moral and economic ideal.  Individuals should compete freely in the marketplace.  The market was not man-made or invented.  No room for government in the market!
  19. 19. 2. Social Darwinism × British economist. × Advocate of laissez-faire. × Adapted Darwin’s ideas from the “Origin of Species” to humans. × Notion of “Survival of the Fittest.”Herbert Spencer
  20. 20. 2. Social Darwinismin America $ Individuals must have absolute freedom to struggle, succeed or fail. $ Therefore, state intervention to reward society and the economy isWilliam Graham Sumner futile! Folkways (1906)
  21. 21. New Business Culture: “The American Dream?”3. Protestant (Puritan) “Work Ethic”  Horatio Alger [100+ novels]Is the idea of the “self-made man” a MYTH??
  22. 22. New T of Business Entities ype1. Pool 1887 Interstate Commerce Act  Interstate Commerce Commission created.2. Trust  John D. Rockefeller  Standard Oil Co.
  23. 23. Standard Oil Co.
  24. 24. New T of Business Entities ype2. Trust:  Horizontal Integration  John D. Rockefeller  Vertical Integration: o Gustavus Swift  Meat-packing o Andrew Carnegie  U. S. Steel
  25. 25. I ron & S P teel roduction
  26. 26. New T of Business Entities ype
  27. 27. U. S Corporate Mergers .
  28. 28. New Financial BusinessmanThe Broker:  J. Pierpont Morgan
  29. 29. all treet – 1867 & 190 0W S
  30. 30. T R he eorganization of Work Frederick W. TaylorThe Principles of Scientific Management (1911)
  31. 31. T R he eorganization of Work The Assembly Line
  32. 32. % of Billionaires in 1 0 90
  33. 33. % of Billionaires in 1 8 91
  34. 34. T P he rotectors of Our Industries
  35. 35. T ‘Bosses’ of the Senate he
  36. 36. T ‘R he obber Barons’ of the Past
  37. 37. Cornelius [“Com odore” ] Vanderbilt m Can’t I do what I want with my money?
  38. 38. WilliamVanderbilt$ The public be damned!$ What do I care about the law? H’aint I got the power?
  39. 39. T Gospel of W he ealth: Religion in the Era of I ndustrialization$ Wealth no longer looked upon as bad.$ Viewed as a sign of God’s approval.$ Christian duty to accumulate wealth.$ Should not help the poor. Russell H. Conwell
  40. 40. “On Wealth” $ The Anglo-Saxon race is superior. $ “Gospel of Wealth” (1901). $ Inequality is inevitable and good. $ Wealthy should act as “trustees” for their “poorer brethren.”Andrew Carnegie
  41. 41. Regulating the Trusts1877  Munn. v. IL1886  Wabash, St. Louis & Pacific Railroad Company v. IL1890  Sherman Antitrust Act  in “restraint of trade”  “rule of reason” loophole1895  US v. E. C. Knight Co.
  42. 42. Relative Share of World Manufacturing
  43. 43. Modern ‘Robber Barons’??

×