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Robber Barons vs. Captains of Industry -Pros and Cons of Industrialists -Treatment of workers -Antitrust Movement.

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Presentation on theme: "Robber Barons vs. Captains of Industry -Pros and Cons of Industrialists -Treatment of workers -Antitrust Movement."— Presentation transcript:

1 Robber Barons vs. Captains of Industry -Pros and Cons of Industrialists -Treatment of workers -Antitrust Movement

2 Captains of Industry I created jobs I helped make life easier for you We make all those nice things you like ! We made this country an empire I provide affordable products If you work hard you can be rich too!

3 Robber Barons I gamble with the taxpayers money You work for pennies while I make millions The people you vote for work for me I get government bailouts… Corporations are people and have rights--- right? We started corporations

4 Opposing View Points Captains of Industry – Created Jobs – Increased production – Provided cheap products – Gave money back to the community – Helped build the nation Robber Barons – Exploited workers – Corrupted the government – Greedy – Offered bribes for political favors – Above the law

5 Corporations are people???? A corporation: – Is owned by many people (stockholders) – But treated as a single entity – It can Own property Pay taxes Sue or be sued Make contracts

6 Corporations Stocks – Shares of a corporations Share risk and reward Stockholder – People who own a corporations via stocks Buying/Selling STOCKS allows corporations to expand/increase – Production – Employees – Factory – Research & Development

7 Corporations More money brings – New technologies – More workers – New machines – Bigger factories Economies of Scale – Corporation can make more goods at a lower cost….passing the saving on to you

8 Costs Fixed Money that you have to pay regardless if your business goes or not… – Loans – Mortgages – Taxes – Rent Operating Money used to make your business GO!!! – Water – Electricity – Employees – Shipping – Wages – Materials

9 POOLS An affiliation of two or more people/companies formed for the purpose of attempting to manipulate a products price and/or volume. – = gas station $ $ $ $ $ $ $ $ $ $

10 Vertical Integration Corporation owns all of the companies which it depends on to improve profits. Cut out the profit margins of “middle man” companies. Ex. McDonalds

11 Horizontal Integration Combining or merging LIKE companies into one LARGE company. Ex…Blockbuster Video

12 Monopoly Exclusive control of a product or service in a particular market that makes it possible to manipulate prices.

13 TRUSTS an organization of businesses designed to operate like a monopoly to circumvent anti- monopoly laws BIG OIL Trustee 1 Joe’s Oil Trustee 1 Joe’s Oil Trustee 2 Bill’s Oil Trustee 2 Bill’s Oil Trustee 3 Juan’s Oil Trustee 3 Juan’s Oil $$$

14 Holding Companies Corporation that doesn’t really do anything except own a significant amount of stock in real companies. Board of Directors CEOs

15 Cutting Costs Skilled Workers replaced by Unskilled machine operators. – Production cost lower Deflation = profits Value of $ rises Prices drop Workers wage has more buying power Terrible working conditions Unsafe Unsanitary Long hours Low wages $10 a day $3 a day

16 Workers Unite – TRADE UNIONS - Limited to Skilled Laborers Iron workers Shoemakers – Industrial Unions - Common Laborers and craft Workers Carpenters Painters artisans

17 Workers Organize Knights of LaborKnights of Labor – formed in 1869 as the first labor union in the nation. Goal #1: Shorter work day Goal #2: End child labor Goal #4: Worker owned factories Goal #3: Equal pay for men and women Strikes boycotts arbitration

18 Blacklisted – Anyone that tried to start a union considered a troublemaker. – Could not get a job anywhere – Had to Move Change Name Change Identity

19 LOCKOUT COMPANY ANSWER TO STRIKE – NO PAY – NO WORK – HIRE REPLACEMENT WORKERS “STRIKE BREAKERS” – SCABS

20 STRIKES Workers walk off the job & protest working conditions Early Strikes resulted in Violent Riots Government normally sided with Business because they shared similar interest in companies making a profit Pullman Strikes Great Rail Road Strike Haymarket Riots

21 American Federation of Labor (AFL) umbrella organization made up of many different trade unions. Led by Samuel Gompers Unions stay out of Politics Closed Shops- Companies only hire Union Workers

22 AFL Screen Actors Guild American Postal Workers Union American Federation of Teachers United Steel Workers of America United Farm Workers of America International Association of Firefighters Unions of the AFL - CIO

23 Justifications for Industrialists’ Extreme Wealth Social Darwinism Herbert Spencer – Based on Charles Darwin’s theory of evolution – Those who are rich are more fit, than those who are poor – Attempted to use science to explain social classes Gospel of Wealth Andrew Carnegie – God gave wealth to the most capable people – It is the duty of the wealthy to give money to help the poor Carnegie gave millions of dollars away to establish libraries, colleges, and museums

24 Captains of Industry Andrew Carnegie- US Steel J. P. Morgan- Banking, and Insurance Companies John Rockefeller – Standard Oil Cornelius Vanderbilt- Rail Roads


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