Big Business Emerges Businesses consolidate into big industries or ________________ Businesses...
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Transcript of Big Business Emerges Businesses consolidate into big industries or ________________ Businesses...
Big Business Emerges
Businesses consolidate into big industries or ________________
These are run by businessmen who become very wealthy and become known as ___________________.
Big Business Emerges
Businesses consolidate into big industries or corporations
These are run by businessmen who become very wealthy and become known as _____________.
Big Business Emerges
Businesses consolidate into big industries or corporations
These are run by businessmen who become very wealthy and become known as robber barons.
Government practices
Government supported laissez-faire economics _______________ Government does very little _________ Result=very wealthy businesses and lots of corruption
and little competition
Government practices
Government supported laissez-faire economics Means hands off Government does very little _________ Result=very wealthy businesses and lots of corruption
and little competition
Government practices
Government supported laissez-faire economics Means hands off Government does very little regulation Result=very wealthy businesses and lots of corruption
and little competition
Social Darwinism
Idea that the best individuals will succeed The survival of the _______ Government should do very little
Social Darwinism
Idea that the best individuals will succeed The survival of the fittest Government should do very little
Robber Barons or Captains of Industry?
Andrew Carnegie Built a giant steel firm Bought out competition and
provides of raw materials and transportation of his goods
Known as __________ consolidation
Robber Barons or Captains of Industry?
Andrew Carnegie Built a giant steel firm Bought out competition and
provides of raw materials and transportation of his goods
Known as vertical integration
Vertical Integration
Buying out companies for ________ of the productive process from raw materials to marketing.
Vertical Integration
Buying out companies for every stage of the productive process from raw materials to manufacturing to marketing.
John D. Rockefeller
Another robber baron Controlled ___________ Bought other oil
companies This is horizontal
consolidation=controlling competition at ___________ process of a product.
John D. Rockefeller
Another robber baron Controlled Standard
Oil Bought other oil
companies This is horizontal
consolidation=controlling competition at ___________ process of a product.
John D. Rockefeller
Another robber baron Controlled Standard
Oil Bought other oil
companies This is horizontal
consolidation=controlling competition at one step in the process of a product.
Horizontal Integration
Vert
ical In
teg
rati
on
Other robber barons Cornelius Vanderbilt:
___________________
J. P. Morgan: ________________________
Robber barons did philanthropy work (gave money to charities)
Other robber barons Cornelius Vanderbilt: RR
monopolist J. P. Morgan: __________
______________
Robber barons did philanthropy work (gave money to charities)
Other robber barons Cornelius Vanderbilt: RR
monopolist J. P. Morgan: banking
monopolist
Robber barons did philanthropy work (gave money to charities)
Are you a philanthropist? Could you be?
Monopolies and trusts
Robber barons created _________ Where a firm controls
__________________________
Also created _____ Companies agree to work
together
Monopolies and trusts
Robber barons created monopolies Where a firm controls
__________________________
Also created _____ Companies agree to work
together
Monopolies and trusts
Robber barons created monopolies Where a firm controls all
the competition
Also created _____ Companies agree to work
together
Monopolies and trusts
Robber barons created monopolies Where a firm controls all
the competition
Also created trusts Companies agree to work
together
Sherman Anti-trust Act
Congress passed the Sherman anti-trust act to outlaw ______________
___________ Difficult toenforce
Sherman Anti-trust Act
Congress passed the Sherman anti-trust act to outlaw trusts and monopolies Difficult toenforce
What’s wrong with this?
What’s wrong with having monopolies and no competition?
Lets Review Video
End
Finish working on Guided Reading 19-2 front and back (Due Monday)
Industrial Workers
Working conditions
Conditions were terrible Long hours Dangerous conditions Poor living conditions Child Labor To improve conditions
formed labor unions
Development of Labor unions
Labor Movement: unions illegal until 1840's for interfering in commerce, black lists Federal Government kept unions weak
Unions
Knights of Labor: unskilled/skilled workers demanded reforms in child labor, safety, hours (8 hr day), equal pay for women
American Federation of Labor: skilled workers demanded higher pay, shorter work weeks.
Strikes
Strikes resulted and usually ended in violence. Government usually sent in troops against the unions
3 Main Goals of UnionsWrite these on the side of your notes
Shorter hours (8 hours of work, 8 hours of sleep, and 8 hours for whatever)
Higher wages Safer working conditions
Notable Strikes
Great RR Strike of 1877: RR shut down, Hayes used army to end strike
Haymarket Square Riot: bomb killed 7 policeman, police fired on strikers
Homestead Strike: Carnegie hired Pinkertons to violently end strike
Pullman Strike: RR shut down, federal troops brought in and people get hurt and lose their jobs.
Business leaders react
Unions were prevented by: Not hiring union workers Banning union meetings Using the courts and troops to stop unions
End
Date Conflict Causes Outcome
May1886
June1892
May1894
Homework: Read 568-569 and complete this chart
Date Conflict Causes Outcome
May1886
June1892
May1894
Date Conflict Causes Outcome
May1886
Haymarket Riot
June1892
May1894
Date Conflict Causes Outcome
May1886
Haymarket Riot Workers gather to protest the killing of two strikers by the police
June1892
May1894
Date Conflict Causes Outcome
May1886
Haymarket Riot Workers gather to protest the killing of two strikers by the police
Riot breaks out and many more protesters as well as police are killed.Knights reputation is harmed.
June1892
May1894
Date Conflict Causes Outcome
May1886
Haymarket Riot Workers gather to protest the killing of two strikers by the police
Riot breaks out and many more protesters as well as police are killed.Knights reputation is harmed.
June1892
Homestead Strike
May1894
Date Conflict Causes Outcome
May1886
Haymarket Riot Workers gather to protest the killing of two strikers by the police
Riot breaks out and many more protesters as well as police are killed.Knights reputation is harmed.
June1892
Homestead Strike Carnegie steel workers protested new machinery that would cost them jobs
May1894
Date Conflict Causes Outcome
May1886
Haymarket Riot Workers gather to protest the killing of two strikers by the police.
Riot breaks out and many more protesters as well as police are killed.Knights reputation is harmed.
June1892
Homestead Strike Carnegie steel workers protested new machinery that would cost them jobs.
Carnegie hired Pinkertons to violently end strike.Union lost strike.
May1894
Date Conflict Causes Outcome
May1886
Haymarket Riot Workers gather to protest the killing of two strikers by the police
Riot breaks out and many more protesters as well as police are killed.Knights reputation is harmed.
June1892
Homestead Strike Carnegie steel workers protested new machinery that would cost them jobs
Carnegie hired Pinkertons to violently end strike.Union lost strike.
May1894
Pullman Strike
Date Conflict Causes Outcome
May1886
Haymarket Riot Workers gather to protest the killing of two strikers by the police
Riot breaks out and many more protesters as well as police are killed.Knights reputation is harmed.
June1892
Homestead Strike Carnegie steel workers protested new machinery that would cost them jobs
Carnegie hired Pinkertons to violently end strike.Union lost strike.
May1894
Pullman Strike Railroad workers protested wage cuts
Date Conflict Causes Outcome
May1886
Haymarket Riot Workers gather to protest the killing of two strikers by the police
Riot breaks out and many more protesters as well as police are killed.Knights reputation is harmed.
June1892
Homestead Strike
Carnegie steel workers protested new machinery that would cost them jobs
Carnegie hired Pinkertons to violently end strike.Union lost strike.
May1894
Pullman Strike Railroad workers protested wage cuts
Gained nationwide support.Company broke strike because Federal Government sent in troops to end strike.