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The Growth of Big Business and Technological Innovations after Reconstruction

The Growth of Big Business and Technological Innovations after Reconstruction. SSUSH11 The student will describe the economic, social, and geographic impact of the growth of big business and technological innovations after Reconstruction. Preview and Processing.

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The Growth of Big Business and Technological Innovations after Reconstruction

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  1. The Growth of Big Business and Technological Innovations after Reconstruction

  2. SSUSH11 The student will describe the economic, social, and geographic impact of the growth of big business and technological innovations after Reconstruction.

  3. Preview and Processing What affect did Industrialization have on Westward Expansion, economic growth and immigration?

  4. Causes of Rapid Industrialization • Steam Revolution of the 1830s-1850s. • The Railroad fueled the growing US economy: • First big business in the US. • A magnet for financial investment. • The key to opening the West. • Aided the development of other industries.

  5. Causes of Rapid Industrialization • Technological innovations. • Bessemer and open hearth process • Refrigerated cars • Edison • “Wizard of Menlo Park” • light bulb, phonograph, motion pictures.

  6. Thomas Alva Edison “Wizard of Menlo Park”

  7. The Light Bulb 1879

  8. The Phonograph (1877)

  9. The Ediphone or Dictaphone

  10. The Motion Picture Camera

  11. Alexander Graham Bell Telephone (1876)

  12. Alternate Current 1885 George Westinghouse

  13. Alternate Current Westinghouse Lamp ad

  14. The Airplane Wilbur Wright Orville Wright Kitty Hawk, NC – December 17, 1903

  15. Model T Automobile Henry FordI want to pay my workers so that they can afford my product!

  16. “Model T” Prices 1908

  17. Causes of Rapid Industrialization • Unskilled & semi-skilled labor in abundance. • Abundant capital. • New, talented group of businessmen [entrepreneurs] and advisors. • Market growing as US population increased. • Government willing to help at all levels to stimulate economic growth. • Abundant natural resources.

  18. New Business Culture • Laissez Fairethe ideology of the Industrial Age. • Individual as a moral and economic ideal. • Individuals should compete freely in the marketplace. • The market was not man-made or invented. • No room for government in the market!

  19. 2.Social Darwinism • British economist. • Advocate of laissez-faire. • Adapted Darwin’s ideas from the “Origin of Species” to humans. • Notion of “Survival of the Fittest.” Herbert Spencer

  20. 3.Social Darwinism in America • Individuals must have absolute freedom to struggle, succeed or fail. • Therefore, state intervention to reward society and the economy is futile! William Graham SumnerFolkways (1906)

  21. New Business Culture:“The American Dream?” 4. Protestant (Puritan) “Work Ethic” • Horatio Alger [100+ novels] Is the idea of the “self-made man” a MYTH??

  22. New Type of Business Entities John D. Rockefeller • Standard Oil Co. 1870

  23. Standard Oil Co.

  24. New Type of Business Entities Andrew Carnegie U. S. Steel 1889

  25. Iron & Steel Production

  26. New Financial Businessman 1880’s The Broker: • J. Pierpont Morgan

  27. Wall Street – 1867 & 1900

  28. % of Billionaires in 1900

  29. % of Billionaires in 1918

  30. The Protectors of Our Industries

  31. The ‘Bosses’ of the Senate

  32. Cornelius [“Commodore”] Vanderbilt Can’t I do what I want with my money?

  33. William Vanderbilt • The public be damned! • What do I care about the law? H’aint I got the power?

  34. 1867

  35. The Gospel of Wealth:Religion in the Era of Industrialization • Wealth no longer looked upon as bad. • Viewed as a sign of God’s approval. • Christian duty to accumulate wealth. • Should not help the poor. Russell H. Conwell 1910

  36. What rights did the American worker have? How could the American worker obtain better working conditions and pay? Why did big business fear unions? Why were anarchy and labor unions linked together? What about the American Worker?

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