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Big Business Emerges Businesses consolidate into big industries or ________________ Businesses consolidate into big industries or ________________ These.

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Presentation on theme: "Big Business Emerges Businesses consolidate into big industries or ________________ Businesses consolidate into big industries or ________________ These."— Presentation transcript:

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2 Big Business Emerges Businesses consolidate into big industries or ________________ Businesses consolidate into big industries or ________________ These are run by businessmen who become very wealthy and become known as ___________________. These are run by businessmen who become very wealthy and become known as ___________________.

3 Big Business Emerges Businesses consolidate into big industries or corporations Businesses consolidate into big industries or corporations These are run by businessmen who become very wealthy and become known as _____________. These are run by businessmen who become very wealthy and become known as _____________.

4 Big Business Emerges Businesses consolidate into big industries or corporations Businesses consolidate into big industries or corporations These are run by businessmen who become very wealthy and become known as robber barons. These are run by businessmen who become very wealthy and become known as robber barons.

5 Government practices Government supported laissez-faire economics Government supported laissez-faire economics _______________ _______________ Government does very little _________ Government does very little _________ Result=very wealthy businesses and lots of corruption and little competition Result=very wealthy businesses and lots of corruption and little competition

6 Government practices Government supported laissez-faire economics Government supported laissez-faire economics Means hands off Means hands off Government does very little _________ Government does very little _________ Result=very wealthy businesses and lots of corruption and little competition Result=very wealthy businesses and lots of corruption and little competition

7 Government practices Government supported laissez-faire economics Government supported laissez-faire economics Means hands off Means hands off Government does very little regulation Government does very little regulation Result=very wealthy businesses and lots of corruption and little competition Result=very wealthy businesses and lots of corruption and little competition

8 Social Darwinism Idea that the best individuals will succeed Idea that the best individuals will succeed The survival of the _______ The survival of the _______ Government should do very little Government should do very little

9 Social Darwinism Idea that the best individuals will succeed Idea that the best individuals will succeed The survival of the fittest The survival of the fittest Government should do very little Government should do very little

10 Robber Barons or Captains of Industry? Andrew Carnegie Andrew Carnegie Built a giant steel firm Built a giant steel firm Bought out competition and provides of raw materials and transportation of his goods Bought out competition and provides of raw materials and transportation of his goods Known as __________ consolidation Known as __________ consolidation

11 Robber Barons or Captains of Industry? Andrew Carnegie Andrew Carnegie Built a giant steel firm Built a giant steel firm Bought out competition and provides of raw materials and transportation of his goods Bought out competition and provides of raw materials and transportation of his goods Known as vertical integration Known as vertical integration

12 Vertical Integration Buying out companies for ________ of the productive process from raw materials to marketing. Buying out companies for ________ of the productive process from raw materials to marketing.

13 Vertical Integration Buying out companies for every stage of the productive process from raw materials to manufacturing to marketing. Buying out companies for every stage of the productive process from raw materials to manufacturing to marketing.

14 John D. Rockefeller Another robber baron Another robber baron Controlled ___________ Controlled ___________ Bought other oil companies Bought other oil companies This is horizontal consolidation=controlling competition at ________ This is horizontal consolidation=controlling competition at ________ ___ process of a product.

15 John D. Rockefeller Another robber baron Another robber baron Controlled Standard Oil Controlled Standard Oil Bought other oil companies Bought other oil companies This is horizontal consolidation=controlling competition at ________ This is horizontal consolidation=controlling competition at ________ ___ process of a product.

16 John D. Rockefeller Another robber baron Another robber baron Controlled Standard Oil Controlled Standard Oil Bought other oil companies Bought other oil companies This is horizontal consolidation=controlling competition at one step in the process of a product. This is horizontal consolidation=controlling competition at one step in the process of a product.

17 Horizontal Integration Vertical Integration

18 Other robber barons Cornelius Vanderbilt: _____ Cornelius Vanderbilt: ___________________ J. P. Morgan: __________ J. P. Morgan: ________________________ Robber barons did philanthropy work (gave money to charities) Robber barons did philanthropy work (gave money to charities)

19 Other robber barons Cornelius Vanderbilt: RR monopolist Cornelius Vanderbilt: RR monopolist J. P. Morgan: __________ J. P. Morgan: ________________________ Robber barons did philanthropy work (gave money to charities) Robber barons did philanthropy work (gave money to charities)

20 Other robber barons Cornelius Vanderbilt: RR monopolist Cornelius Vanderbilt: RR monopolist J. P. Morgan: banking monopolist J. P. Morgan: banking monopolist Robber barons did philanthropy work (gave money to charities) Robber barons did philanthropy work (gave money to charities)

21 Are you a philanthropist? Could you be?

22 Monopolies and trusts Robber barons created _________ Robber barons created _________ Where a firm controls _________ _________________ Also created _____ Also created _____ Companies agree to work together

23 Monopolies and trusts Robber barons created monopolies Robber barons created monopolies Where a firm controls _________ _________________ Also created _____ Also created _____ Companies agree to work together

24 Monopolies and trusts Robber barons created monopolies Robber barons created monopolies Where a firm controls all the competition Also created _____ Also created _____ Companies agree to work together

25 Monopolies and trusts Robber barons created monopolies Robber barons created monopolies Where a firm controls all the competition Also created trusts Also created trusts Companies agree to work together

26 Sherman Anti-trust Act Congress passed the Sherman anti-trust act to outlaw ______________ Congress passed the Sherman anti-trust act to outlaw _________________________ Difficult to Difficult toenforce

27 Sherman Anti-trust Act Congress passed the Sherman anti-trust act to outlaw trusts and monopolies Congress passed the Sherman anti-trust act to outlaw trusts and monopolies Difficult to Difficult toenforce

28 What’s wrong with this? What’s wrong with having monopolies and no competition? What’s wrong with having monopolies and no competition?

29 Lets Review Video

30 End Finish working on Guided Reading 19-2 front and back (Due Monday) Finish working on Guided Reading 19-2 front and back (Due Monday)

31 Industrial Workers

32 Working conditions Conditions were terrible Conditions were terrible Long hours Long hours Dangerous conditions Dangerous conditions Poor living conditions Poor living conditions Child Labor Child Labor To improve conditions formed labor unions To improve conditions formed labor unions

33 Development of Labor unions Labor Movement: unions illegal until 1840's for interfering in commerce, black lists Federal Government kept unions weak Labor Movement: unions illegal until 1840's for interfering in commerce, black lists Federal Government kept unions weak

34 Unions Knights of Labor: unskilled/skilled workers demanded reforms in child labor, safety, hours (8 hr day), equal pay for women 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. American Federation of Labor: skilled workers demanded higher pay, shorter work weeks.

35 Strikes Strikes resulted and usually ended in violence. Government usually sent in troops against the unions Strikes resulted and usually ended in violence. Government usually sent in troops against the unions

36 3 Main Goals of Unions Write these on the side of your notes Shorter hours (8 hours of work, 8 hours of sleep, and 8 hours for whatever) Shorter hours (8 hours of work, 8 hours of sleep, and 8 hours for whatever) Higher wages Higher wages Safer working conditions Safer working conditions

37 Notable Strikes Great RR Strike of 1877: RR shut down, Hayes used army to end strike 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 Haymarket Square Riot: bomb killed 7 policeman, police fired on strikers Homestead Strike: Carnegie hired Pinkertons to violently end strike 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. Pullman Strike: RR shut down, federal troops brought in and people get hurt and lose their jobs.

38 Business leaders react Unions were prevented by: Unions were prevented by: Not hiring union workers Not hiring union workers Banning union meetings Banning union meetings Using the courts and troops to stop unions Using the courts and troops to stop unions

39 End

40 DateConflictCausesOutcome May1886 June1892 May1894 Homework: Read and complete this chart

41 DateConflictCausesOutcome May1886 June1892 May1894

42 DateConflictCausesOutcome May1886 Haymarket Riot June1892 May1894

43 DateConflictCausesOutcome May1886 Workers gather to protest the killing of two strikers by the police June1892 May1894

44 DateConflictCausesOutcome 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

45 DateConflictCausesOutcome 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

46 DateConflictCausesOutcome 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

47 DateConflictCausesOutcome 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

48 DateConflictCausesOutcome 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

49 DateConflictCausesOutcome 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

50 DateConflictCausesOutcome 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.


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