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Do Now

Do Now. What is the American Dream?. Movin on Up!. New Technologies and Industry. Thomas Edison (Wizard of Menlo) is inventing Electricity becomes widespread Henry Ford and the assembly line Capitalism is taking hold. What is Capitalism.

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Do Now

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  1. Do Now What is the American Dream?

  2. Movin on Up!

  3. New Technologies and Industry • Thomas Edison (Wizard of Menlo) is inventing • Electricity becomes widespread • Henry Ford and the assembly line • Capitalism is taking hold

  4. What is Capitalism • An economic system that values private property and profit over collective ownership • “Captains of Industry” and Robber Barons become popular terms due to the immense amount of wealth being accumulated

  5. Was everybody happy? • Not everybody was able to share in the wealth and many people were upset by what they saw as corruption • Monopolies and Trusts became very prevalent • Government had to step in to regulate what was happening. Does government have to step in today?

  6. Social Darwinism • The idea of natural selection applied to society. • “Only the strong survive” • The poor were just weaker

  7. Do Now • The telegraph used ____________ to send messages. The telegraph cables mainly followed the ___________. This all changed when Alexander Graham Bell invented the ______________. • Other major innovations were the discovery of ________ allowed for a different fuel source. As well as the production of _________ which Andrew Carnegie capitalized on.

  8. New Technologies = New labor • Because of the increased production and ability to move around the country (cars, railroads, airplanes) capitalists realized they could make money by selling products nationwide. • To create more product (supply) capitalists needed more productive labor. • Henry Ford develops the assembly line.

  9. Factors of Production • Land • Labor • Capital (any asset that can be used to produce an income)

  10. Corporations • Because many small business owners did not have the capital to expand they formed corporations. • Corporations exist independently of their owners and are funded through investments and the selling of stock. • Capitalists control corporations by buying large amounts of stock

  11. Competition • Corporations gave consumers choices • Many powerful corporations attempted to get rid of competition. • John Rockefeller often eliminated competition by buying them out or merging with other companies. • He also made deals with railroad companies to ship his oil at a lower price allowing him to sell it cheaper and forcing smaller business out of the market because they couldn’t afford it. • Created a monopoly

  12. Do Now • Summarize how Rockefeller created a Monopoly

  13. Big Business and the Government • Corporations grew by: • Horizontal integration= joining firms in the same industry • Vertical integration= taking control of each step, from production to distribution • Carnegie took complete control of the steel production.

  14. Corporations and People • Big business was limiting competition= rising prices • Government took a laissez faire approach= hands off, leave business alone • Believed in Social Darwinism- business should be allowed to either survive or die. • The reality was government helped many of the corporations through land grants, low interest or even zero interest loans, having no regulations protecting consumers or the environment and favorable tax policies. • Often times politicians would be bribed to pass laws favorable to companies.

  15. Sherman Anti-Trust Act • Outlawed monopolies and trusts • Was written by lawyers who favored laissez faire • Not enforced well • Government was controlled by business and filled with people who agreed with laissez faire

  16. Do Now • What effect did the assembly line have on labor?

  17. The Gilded Age • Society looked great– like gold but was actually not • The idea that behind all the wealth and innovation most people were hurting • Corruption was widespread

  18. Wealth Gap • Entrepreneurs -establishers of new business – were getting very wealthy • Most workers though made only 440 dollars a year. This is compared to 25 million for capitalists like Andrew Carnegie • This was justified by the idea if you work hard you could be that wealthy. • “Rags to Riches” • Carnegie argued wealthy people had a duty to be a philanthropist- someone who gives money to worthy causes • What do you think? Is charity good?

  19. Robber Barons or Captains of Industry • Many thought the corruption and unequal wealth pointed to the immorality of people like Carnegie, Rockefeller, and Morgan • Others thought despite the shady deals and actions they had a positive effect overall • What do you think?

  20. Do Now • How many hours a day should you work? • How many days a week? • How much should you be paid? • Should the doors be locked while you are working? • What would you do if you didn’t have those things?

  21. Labors Response to Industrialism • Triangle Shirtwaist Factory • 146 workers died because they couldn’t escape the fire due to the door being locked • Many workers formed unions

  22. Conditions of the working class • Working class- those that sell their labor for income • Conditions were terrible often times hazardous • Child labor • Couldn’t afford to live anywhere but a slum in rundown tenements.

  23. The Labor Movement • Labor formed unions- group of workers organized for their common good. • Unions advocated for an alternate economic system known as socialism- means of production owned by the workers rather than capitalists. • Unions would enter into collective bargaining –negotiations- with their employers for better pay, conditions and other terms of employment

  24. Do Now • Describe the conditions workers found themselves in? • What was labors response to these conditions?

  25. Strikes • Unions would often strike to make sure their demands were being met. • Strikes= stoppage of work. • These often turned violent.

  26. Three of the biggest strikes • Haymarket- After Chicago police killed a worker a protest was called. At the protest a bombing happened after which police fired into crowd. • Homestead- Iron and Steel workers at Carnegie plant. Pinkerton’s (a company hired to break up strikes and unions) were hired. • Pullman- against Chicago’s railroad builders, cut wages by 25 percent. Led by Eugene Debs.

  27. Results • Government favors owners not workers. • Unions were seen as dangerous and violent • Found that strikes= monopolies because it effected trade • However Unions won small gains

  28. Homework. • Read Annotate and Cornell notes 14.4 and 14.5

  29. Do Now • Why was child labor so widespread? • In general were corporations understanding of strikes? Was government?

  30. The Realities of Striking • As you watch be thinking about how and why employers, workers, and government would take the positions that they did. • Homestead Strike http://www.history.com/topics/homestead-strike/videos#homestead-strike

  31. The Realities of Striking • Read more about the Haymarket Riot, the Homestead Strike and the Pullman Strike and complete the RAFT about each. • Be ready to discuss these on Tuesday!

  32. Do Now

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