New Industrial Age

Growth of Big Business Brought to you by Local Sweatshop Laborers Mr. Hyer Room 108

Take Careful Notes Today I’m Giving You the Secret Formula of How to become a GazillionMillionBillionaire

[object Object],[object Object],Learning Objectives

Causes of Rapid Industrialization ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Causes of Rapid Industrialization ,[object Object],[object Object],[object Object]

U. S. Patents Granted 1790s  276 patents issued. 1990s  1,119,220 patents issued.

Late 19 th Century Business Ideology ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Social Darwinism A Dubious Business “Theory” based on the Work of Naturalist Charles Darwin. The Origin of Species (1859)

Darwin’s “The Origin of Species.” This is a first edition.

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],EVOLUTION

“ Survival of the Fittest” ??? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Individuals must have absolute freedom to struggle, succeed or fail Hello, Little People

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.

Economies of Scale With faster machines, businessmen discover: ,[object Object],[object Object],[object Object],[object Object],[object Object],Huge Profits

Horizontal Integration John D. Rockefeller (Standard Oil Company)

Vertical Integration Andrew Carnegie (U.S. Steel) Gustavus Swift  Meat-packing

Vertical Integration Holding Company ,[object Object],[object Object],[object Object],[object Object],[object Object],Monopoly of Entire Industry

Horizontal Integration Purchase or Put out of Business Competing Firms Trusts Ex: Oil, Whiskey, Sugar, Lead, Railroads

Who’s Winning? Who’s Losing?

The “Robber Barons” of the Past

“ The Bosses of the Senate”

“ The Protectors of Our Industries”

Time for Government Intervention? Gov’t: Expansion of Mergers and Trusts Stifling Free Market Sherman Anti-Trust Act (1890) ,[object Object],[object Object],[object Object],[object Object],[object Object]

Coming Attraction Workers of the World Unite

The Changing American Labor Force

Why Labor Unions? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The Tournament of Today: A Set-to Between Labor and Monopoly

What Are Labor Unions? ,[object Object],[object Object],[object Object],[object Object]

Labor Unions = Dangerous Ideas ,[object Object],[object Object],[object Object],[object Object],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.

“Bread and Butter” Issues ,[object Object],[object Object],[object Object],Samuel Gompers

Haymarket Square Riot – Public Begins to Turn Against Unions (1886)

[object Object],[object Object],[object Object],[object Object],Unions’ Weaknesses

Mary Harris Jones “ Mother” Jones ,[object Object],[object Object]

Triangle Shirtwaist Factory Fire! Shirtwaist Tragedy Leads to Better Workplace Conditions ,[object Object],[object Object],[object Object],[object Object]

Asch Building 8th, 9th & 10 th Floors

Thank Goodness, the Firemen have arrived!! OOPS! ,[object Object],[object Object],[object Object]

New Industrial Age

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New Industrial Age