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US HISTORY & GOVERNMENT INDUSTRIALIZATION JOHN JAY HS

US HISTORY & GOVERNMENT INDUSTRIALIZATION JOHN JAY HS. SIGN POSTING. WAS THE CIVIL WAR A TURNING POINT FOR INDUSTRIALIZATION? WHY SHOULD WE BE CONCERNED ABOUT MONOPOLIES? HOW DO VERTICAL & HORIZONTAL INTEGRATION DIFFER? . TURNING POINTS. WESTWARD EXPANSION.

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US HISTORY & GOVERNMENT INDUSTRIALIZATION JOHN JAY HS

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  1. US HISTORY & GOVERNMENT INDUSTRIALIZATION JOHN JAY HS

  2. SIGN POSTING WASTHE CIVIL WAR A TURNING POINT FOR INDUSTRIALIZATION? WHY SHOULD WE BE CONCERNED ABOUT MONOPOLIES? HOW DO VERTICAL & HORIZONTAL INTEGRATION DIFFER?

  3. TURNING POINTS WESTWARD EXPANSION TRANSPORTATION & COMMUNICATION CIVIL WAR ECONOMIC DEVELOPMENT REFORM MOVEMENTS IMMIGRATION

  4. OVERVIEW

  5. WAR MOBILIZATION • VETERAN NETWORKS  BUSINESS NETWORKS • LOCAL  NATIONAL • FRATERNAL ORG’S; MUTUAL-AID SOCIETIES • OFFICER CORPS  CORPORATE MIDDLE MANAGERS • HOW TO WORK IN BUREAUCRACY / HIERARCHY? • LOGISTICS  TRAINING FOR SCALE ORGANIZATION

  6. POLITICAL DEFEAT OF THE SOUTH • PRO-AG (ANTI-MANUFACTURING) • SOUTHERN = PRO-STATES’ RIGHTS (ANTI-FEDERAL) • POLITICS = ANTI-TARIFF (FREE TRADE)ANTI-BANK (EASY CREDIT) • 1788-1868 = SOUTH WINS* 14/20 PRESIDENTIAL ELECTIONS • 1868-1912 = SOUTH WINS 0/9 PRESIDENTIAL ELECTIONS

  7. POLITICAL DEFEAT OF THE SOUTH GILDED AGE USA = DEVELOPING COUNTRY ( = CHINA & MEXICO) REPUBLICANS  PRO-INDUSTRY POLICIES 1) GOLD STANDARD/TIGHT MONEY  ANTI-BANK 2) PROTECTIONISM  FREE TRADE 3) NATIONAL MARKET  STATE RIGHTS GOLD STANDARD  ATTRACTS INT’L INVESTMENT, WHILE PROTECTIONISMKEPT OUT FOREIGN PRODUCTS . . . BUT HURT FARMERS (EXPORTERS) STATE POWER TO REGULATE BUSINESS DECLINED

  8. WAR FINANCE

  9. WAR FINANCE CIVIL WAR = $$$ ISSUED GREENBACKS TO FINANCE THE WAR GREENBACKS ≠ BACKED BY GOLD • EASY CREDIT FOR • “START-UP” BUSINESSES

  10. WAR FINANCE 1860 – 1880 = MANY NEW SMALL BUSINESSES = COMPETITIVE MARKET 1875 (1879) SPECIE RESUMPTION ACT CREDIT CONTRACTS  BANKRUPTCIES  CONSOLIDATION & MONPOLIZATION GREENBACKS = “DEMOCRATIZES” WALL STREET JAY COOKE SELLS GREENBACK WAR BONDS TO ORDINARY AMERICANS

  11. ROBBER BARONS WAR PROFITEERS  ROBBER BARONS RAILROADS: LELAND STANFORD, HENRY VILLARD (SLEEPY HOLLOW), CHAUNCEY DEPEW (PEEKSKILL), E.H. HARRIMAN (ROCKLAND) OIL / CHEMICALS: JOHN D. ROCKEFELLER (POCANTICO), LEO BAEKELAND (YONKERS) IRON / STEEL: ANDREW CARNEGIE (SLEEPY HOLLOW), HENRY FRICK FINANCE: J.P. MORGAN, JAY COOKE, JAY GOULD (TARRYTOWN), JAMES FISK, DANIEL DREW (CARMEL)

  12. RISE OF WALL STREET GREENBACKS  DEBT SECURITIES (BONDS) ROBBER BARON CORPORATIONS  EQUITY SECURITIES (STOCKS) VOLUME OF STOCK MARKET  EASY TO RAISE MONEY, BUT PRONE TO MANIPULATION

  13. INDUSTRIAL IDEOLOGY

  14. MONOPOLY GRAIN COSTS $10 BUSHEL = $100 IN CITY WHAT WILL THE RAILROAD CHARGE?

  15. SOCIAL LOSS MARGINAL REVENUE MONOPOLY

  16. MONOPOLY COMPETITIVE MARKET: VALUE = COST = PRICE  NO PROFITS & NO BARGAINS MONOPOLY = UNCOMPETITIVE MARKET

  17. VERTICAL & HORIZONTAL INTEGRATION • CARNEGIE = CARNEGIE (US STEEL) = VERTICAL INTEGRATION • ROCKEFELLER = STANDARD OIL = HORIZONTAL INTEGRATION

  18. VERTICAL INTEGRATION

  19. HORIZONTAL INTEGRATION PRE COMCAST-TIME WARNER MERGER POST COMCAST-TIME WARNER MERGER

  20. COMPETITION & PRICES

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