aim: how did the gilded age lead to industry and big business?

Aim: How did the Gilded Age lead to Industry and Big Business? Do Now:Homework: Modern Robber Barons

Causes of Industrialization

CivilWar

NaturalResources

Growing Workforce

TechnologyGov’tPolicies

Civil War •The War encouraged production, innovation, and expansion of the railroad.

http://www.google.com/url?sa=i&rct=j&q=business+in+civil+war&source=images&cd=&cad=rja&docid=v4G96UdsdX0xeM&tbnid=F90KDsgAG_XPJM:&ved=0CAUQjRw&url=http://www.zazzle.com/civil_war_black_teamsters_business_card-240980800420236269&ei=iGwaUb-sMOSL0QG7mIDIDA&bvm=bv.42261806,d.dmQ&psig=AFQjCNEfBuCAJEvWeCNMRTWRJEvcG7pPiw&ust=1360772605707619

Natural Resources •Ample Natural Resources like oil, fuels, and its growth.

Rockefeller

http://www.google.com/url?sa=i&rct=j&q=business+in+civil+war&source=images&cd=&cad=rja&docid=v4G96UdsdX0xeM&tbnid=F90KDsgAG_XPJM:&ved=0CAUQjRw&url=http://www.zazzle.com/civil_war_black_teamsters_business_card-240980800420236269&ei=iGwaUb-sMOSL0QG7mIDIDA&bvm=bv.42261806,d.dmQ&psig=AFQjCNEfBuCAJEvWeCNMRTWRJEvcG7pPiw&ust=1360772605707619

http://www.google.com/url?sa=i&rct=j&q=oil+monopoly&source=images&cd=&cad=rja&docid=_G3Ldghn6nnUBM&tbnid=Hpr8eEx9qNUHSM:&ved=0CAUQjRw&url=http://arcticcompass.blogspot.com/2011/04/another-look-at-federal-reserve.html&ei=pWwaUYKYCqq80QHGrIDYAw&bvm=bv.42261806,d.dmQ&psig=AFQjCNGacIjzULm32w1oueus16K3yQRYBA&ust=1360772637423540

Growing Workforce• Immigrants are willing to work for low wages.

http://www.google.com/url?sa=i&rct=j&q=oil+monopoly&source=images&cd=&cad=rja&docid=_G3Ldghn6nnUBM&tbnid=Hpr8eEx9qNUHSM:&ved=0CAUQjRw&url=http://arcticcompass.blogspot.com/2011/04/another-look-at-federal-reserve.html&ei=pWwaUYKYCqq80QHGrIDYAw&bvm=bv.42261806,d.dmQ&psig=AFQjCNGacIjzULm32w1oueus16K3yQRYBA&ust=1360772637423540

Technology •New technology and innovative business practices spurred growth.

http://www.google.com/url?sa=i&rct=j&q=interchangeable+parts&source=images&cd=&cad=rja&docid=xfQIteHhKBMFsM&tbnid=-rc2u9mvqwS_pM:&ved=0CAUQjRw&url=http://en.wikipedia.org/wiki/Interchangeable_parts&ei=yWwaUdbbFpKD0QGnk4D4DQ&bvm=bv.42261806,d.dmQ&psig=AFQjCNE1S1ISeHbZrpGac2oTNLkY5hZpGA&ust=1360772680624688

Gov’t Policy •Government policies encouraged investment in business practices.

http://www.google.com/url?sa=i&rct=j&q=interchangeable+parts&source=images&cd=&cad=rja&docid=xfQIteHhKBMFsM&tbnid=-rc2u9mvqwS_pM:&ved=0CAUQjRw&url=http://en.wikipedia.org/wiki/Interchangeable_parts&ei=yWwaUdbbFpKD0QGnk4D4DQ&bvm=bv.42261806,d.dmQ&psig=AFQjCNE1S1ISeHbZrpGac2oTNLkY5hZpGA&ust=1360772680624688

THE RISE OF BIG BUSINESS!

Trusts• A group of separate companies placed under

control of a single management board.• Assign Stock to a board of trustees

Corporations • (firms)• Group ownership develops •Work to MAXIMIZE profits.

Monopoly • Complete control of a product or service• They must buy out competitors or drive them out!

“Captains of Industry”

JP MORGAN • Private banking

Carnegie • “steel king” • Iron. Steel.

“Captains of Big Business”

Rockefeller Vanderbilt • Oil• Standard Oil Company

• Railroad Industry

Business leaders are getting wealthy; smaller companies and consumers begin to question big businesses’ goals and tactics .

The Debate over Big Business

The Debate over Big Business “Robber Baron”

• Harm of high prices• Shrewd the

capitalists • Drive out small

businesses • Excessive power

“Captain of Industry”

• Provide thousands of jobs • Organized industry• Developed

business practices • Philanthropists

Social Darwinism •Wealth was a measure of one’s inherited value on those who had it and were the most “fit”.

Does this JUSTIFY THE BUSINESS PRACTICES OF MONOPOLIES?

% of Billionaires in 1900

Important Business Practices Protective Tariffs

Laissez Faire

Subsidizing

Railroad Strike

Breaking Antiunio

n Actions

Antiunion Actions • Sherman Antitrust Act (1890): to order unions to STOP disrupting free trade. It outlawed any trust that operated restraint of trade or commerce in the US.

Exit Ticket: Were the Titans of Big Business: Captains of Industry or Robber Barons..WHY!?

aim: how did the gilded age lead to industry and big business?

rise of big business

titans of big business

important business practices

innovative business

big businesses goals

modern robber barons

gilded age lead

technology new technology

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