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Agenda:

Have out dialogue homework to hand in. Notes in notebook Homework in notebook: Acrostic poem INDUSTRIALIZATION “Z”-zoned for business. Agenda:. 9/23 Captains of Industry. It’s just like winning the game! One company or small group that has TOTAL control over one part of business.

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Agenda:

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  1. Have out dialogue homework to hand in. • Notes in notebook • Homework in notebook: • Acrostic poem • INDUSTRIALIZATION • “Z”-zoned for business Agenda:

  2. 9/23 Captains of Industry

  3. It’s just like winning the game! • One company or small group that has TOTAL control over one part of business MonOpolies…like the game?

  4. Trust: • A group of corporations that unite to reduce competition and control prices in a business • Many believed that trusts threatened American economic and political freedoms • Wealthy business owners who were part of trusts used their enormous wealth to buy elections and corrupt public officials. It’s all about trusts!

  5. Political bosses do favors and then people vote how they are told • Quid-pro-quo (something for something) • Robber barons: • Wealthy businessmen who used corrupt practices to get ahead Political machines

  6. Corruption common and state and local levels of government Boss Tweed ran the Tammany Hall political machine in New York City Political Corruption

  7. Andrew Carnegie John D. Rockefeller J.P. Morgan Captains of industry

  8. When one company is responsible for every part of the production of an item from beginning to end (raw material to finished product) • Example: • Carnegie Steel Co. • owned iron ore mines and paid workers to mine • owned railroad companies for shipping iron ore to factories • owned the factories that turned the iron ore into steel Vertical integration Andrew Carnegie

  9. When one company owns all the businesses in a field • Example: • Standard Oil • Bought out all other oil companies so Standard Oil owned the market Horizontal integration John Rockefeller

  10. Philanthropist: • someone who uses their wealth for the benefit of the less fortunate Captains as philanthropists Rockefeller Center Carnegie Hall

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