The Growth of Big Business and Technological Innovations after Reconstruction.
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The Growth of Big The Growth of Big Business and Business and Technological Technological Innovations after Innovations after Reconstruction Reconstruction
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Transcript of The Growth of Big Business and Technological Innovations after Reconstruction.
The Growth of Big Business The Growth of Big Business and Technological and Technological Innovations after Innovations after ReconstructionReconstruction
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
Preview and ProcessingWhat affect did
Industrialization have on Westward
Expansion, economic growth and
immigration?
What affect did Industrialization have
on Westward Expansion, economic
growth and immigration?
Causes of Rapid IndustrializationCauses of Rapid Industrialization1. Steam Revolution of the 1830s-1850s.
2. 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.
1. Steam Revolution of the 1830s-1850s.
2. 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.
Causes of Rapid IndustrializationCauses of Rapid Industrialization
3. Technological innovations. Bessemer and open hearth
process Refrigerated cars Edison
o “Wizard of Menlo Park”o light bulb, phonograph,
motion pictures.
3. Technological innovations. Bessemer and open hearth
process Refrigerated cars Edison
o “Wizard of Menlo Park”o light bulb, phonograph,
motion pictures.
Thomas Alva EdisonThomas Alva Edison
“Wizard of Menlo Park” “Wizard of Menlo Park”
The Light BulbThe Light Bulb
1879
The Phonograph (1877)The Phonograph (1877)
The Ediphone or Dictaphone
The Ediphone or Dictaphone
The Motion Picture CameraThe Motion Picture Camera
Alexander Graham BellAlexander Graham Bell
Telephone (1876)Telephone (1876)
Alternate CurrentAlternate Current
George WestinghouseGeorge Westinghouse
1885
Alternate CurrentAlternate Current
Westinghouse Lamp ad
Westinghouse Lamp ad
The AirplaneThe Airplane
Wilbur Wright Orville Wright Wilbur Wright Orville Wright
Kitty Hawk, NC – December 17, 1903 Kitty Hawk, NC – December 17, 1903
Model T AutomobileModel T Automobile
Henry FordI want to pay my workers so that they
can afford my product!
Henry FordI want to pay my workers so that they
can afford my product!
“Model T” Prices“Model
T” Prices1908
1. Unskilled & semi-skilled labor in abundance.
2. Abundant capital.3. New, talented group of businessmen
[entrepreneursentrepreneurs] and advisors.4. Market growing as US population
increased.5. Government willing to help at all levels to
stimulate economic growth.6. Abundant natural resources.
1. Unskilled & semi-skilled labor in abundance.
2. Abundant capital.3. New, talented group of businessmen
[entrepreneursentrepreneurs] and advisors.4. Market growing as US population
increased.5. Government willing to help at all levels to
stimulate economic growth.6. Abundant natural resources.
Causes of Rapid IndustrializationCauses of Rapid Industrialization
New Business CultureNew Business Culture1.1. Laissez FaireLaissez Faire the ideology of the
Industrial Age.1.1. Laissez FaireLaissez 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!
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!
2. Social Darwinism2. 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.”
British economist. Advocate of
laissez-faire. Adapted Darwin’s
ideas from the “Origin of Species” to humans.
Notion of “Survival of the Fittest.”
Herbert SpencerHerbert Spencer
3. Social Darwinism in America
3. Social Darwinism in America
William Graham SumnerFolkways (1906)
William Graham SumnerFolkways (1906)
$ Individuals must have absolute freedom to struggle, succeed or fail.
$ Therefore, state intervention to reward society and the economy is futile!
$ Individuals must have absolute freedom to struggle, succeed or fail.
$ Therefore, state intervention to reward society and the economy is futile!
New Business Culture:“The American Dream?”
New Business Culture:“The American Dream?”
4. Protestant (Puritan) “Work Ethic”4. Protestant (Puritan) “Work Ethic” Horatio Alger [100+ novels]
4. Protestant (Puritan) “Work Ethic”4. Protestant (Puritan) “Work Ethic” Horatio Alger [100+ novels]
Is the idea of the “self-made man” a MYTH??Is the idea of the “self-made man” a MYTH??
New Type of Business Entities
New Type of Business EntitiesJohn D.
RockefellerJohn D.
RockefellerStandard Oil Co.Standard Oil Co.
1870
Standard Oil Co.Standard Oil Co.
New Type of Business Entities
New Type of Business Entities
Andrew Carnegie
U. S. Steel1889
Iron & Steel ProductionIron & Steel Production
New Financial BusinessmanNew Financial Businessman
The Broker: J. Pierpont Morgan
The Broker: J. Pierpont Morgan
1880’s
Wall Street – 1867 & 1900
Wall Street – 1867 & 1900
% of Billionaires in 1900
% of Billionaires in 1900
% of Billionaires in 1918
% of Billionaires in 1918
The Protectors of Our Industries
The Protectors of Our Industries
The ‘Bosses’ of the Senate
The ‘Bosses’ of the Senate
Cornelius [“Commodore”] Vanderbilt
Cornelius [“Commodore”] Vanderbilt
Can’t I do what I want with my money?Can’t I do what I want with my money?
William VanderbiltWilliam Vanderbilt
$ The public be damned!
$ What do I care about the law? H’aint I got the power?
$ The public be damned!
$ What do I care about the law? H’aint I got the power?
1867
The Gospel of Wealth:Religion in the Era of
Industrialization
The Gospel of Wealth:Religion in the Era of
Industrialization
Russell H. ConwellRussell H. Conwell
$ 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.
$ 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. 1910
What about the American Worker?
• 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?
