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US Industrial Revolution: Factors, Entrepreneurs, and Inequality

Explore the factors that made the US the richest and most industrial nation, the successful entrepreneurs of the time, and the government's inaction in regulating industrialization, leading to an unfair business environment that favored the rich at the expense of the poor.

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US Industrial Revolution: Factors, Entrepreneurs, and Inequality

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  1. Industrial Age- from 1860-1900 the US transforms from an agricultural nation to the largest manufacturing nation in the worldThink- Why do you feel the US is one of the most productive, richest, and industrial nations in history? Students will understand Identify 4 factors that allowed the US to become a successful manufacturing nation Identify 3entrepreneurs and their industry that fueled the US’s growth and explain how they became so successful Analyze 2 reasons for the Government’s inaction in regulating industrialization, allowing corporations to take advantage of the power, creating an unfair business environment that favored the rich at the expense of the poor.

  2. Factors of Industrialization • Why do you feel the US became the richest country in the world while countries like Mexico stayed relatively poor? • 1) Natural Resources • 2) Transportation • 3) Capital • 4) Labor • 5) Technology • 6) Gov. response- subsidies, aid, tariffs • Laissez-Faire

  3. Technology and Inventions • How does a new invention create more wealth for the country? • How have new inventions changed your life?

  4. Inventors • Alexander Graham Bell • Telephone • How does the phone change society? How did people communicate before? • Thomas Edison • Electric light bulb, phonograph (record player), motion picture camera • How are Edison’s inventions reflected in today’s society? • Christopher Sholes/Typewriter • What group of people will benefit most from Bell and Sholes invention?

  5. Railroads- first mega industry in US that helped US industrialize and get rich • Land Grants- Gov. gave 10sq mi. of land for each 1 m. of RR tack laid • Transcontinental RR- connected Ca. with US • Union Pacific- east to west (NB-Utah) • Central Pacific (Leland Stanford, Collis Huntington) west/Ca-east/Ut • What was the real motivation behind the two companies in laying RR track? • Time Zones- created (Eastern, Central, Mountain, Pacific) • Long Haul vs. Short Haul- unfair rates charged by RRs • ?What will cost more? Sending a package from New York to LA or LA to Riverside in 1880? WHY?

  6. Consolidation of Industry- companies tried to destroy competition in order to control their industry and prices • Monopoly/Trust- when one company controls an entire industry • Vertical Integration- when a company controls every part of creating a product • How does V.I. benefit a company? • What would McDonalds own in order to create a burger? • Horizontal Immigration- when a company buys out companies that make the same product • What would McD’s own under H.I to better control the fast food industry? Any recent examples?

  7. Robber Barons- group of super rich who were the titans of industry and dominated business in US • John Rockefeller/ Standard Oil- 90% of oil in 1897 • Trust- Rock had central authority to coordinate oil production nationally • Andrew Carnegie/Steel • Scientific Management- simplified the motions needed to create a product • What is the problem for workers with simplifying work to a point anyone can do it? • J.P. Morgan/Investment Banker- bought companies (sat on board of 112 corps worth $20 bill.) • What is the problem with a group of bankers controlling so many industries?

  8. Government’s and Wealthy response to Robber Barons • Laissez Faire- “Hands Off” Gov. stays out of business and does not set rules that would limit business • What is the problem with government not setting limits on industry? • Social Darwinism- survival of the fittest, richest deserve wealth because they are strong and poor are weak and lazy • What is the problem with this ideology? (think free competition also) • Gospel of Wealth- idea the wealthy have a responsibility to share their wealth for good of society, set a good example • Carnegie- gave away $350 million (libraries, universities, Carnegie Hall, foundation) • What is the problem with the wealthy deciding how to spread their wealth? • Horatio Alger Story- rags to riches story • Can a person really become rich through hard work and determination at this time?

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