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The Rise of Big Business

The Rise of Big Business . Chapter 20/Section 2. Robber Barons vs. Captains of Industry. Men who amassed wealth during this time could be known by two titles: a Captain of Industry or a Robber Baron Which has a positive connotation, which a negative?. Robber Baron.

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The Rise of Big Business

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  1. The Rise of Big Business Chapter 20/Section 2

  2. Robber Barons vs. Captains of Industry • Men who amassed wealth during this time could be known by two titles: a Captain of Industry or a Robber Baron • Which has a positive connotation, which a negative?

  3. Robber Baron • Men who used questionable means to create wealth for themselves; often unscrupulous • Used illegal ploys to create wealth • Mistreated workers • Cheated

  4. Captain of Industry • Business man whose means of amassing a fortune was beneficial to society as a whole

  5. Examples of Robber Barons

  6. Task • You and your team will be assigned 1 significant businessman from this time period. • By reading biographic information, you will complete a chart. • Your job is to evaluate whether this man was a Robber Baron or a Captain of Industry.

  7. Carnegie and his Steel • Found the Bessemer Process in England and brought I back to the US • His steel mill was incredibly profitable • Used vertical integration to secure success • Gained control of raw materials used to make steel • Gave him an advantage

  8. Rockefeller’s Oil • Led the nation’s oil refineries • Bought companies and consolidated them into Standard Oil • Created Standard Oil Trust • Trust: when many companies are run by one board • Eliminated competition between rivals (no more rivals, no more competition) • Became a monopoly (one company controls all or most of a commodity)

  9. Rockefeller had Trust issues • General population didn’t like the idea of trusts or big business, insisted that the government should step in • Sherman Antitrust Act- forbade the formation of trusts or monopolies • Too weak to really do much at all

  10. Create a T-Chart of pros and cons for trusts • Use pages 581 and 582 to find some of the arguments

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