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Big Business in the early 20th century Rockefeller, Vanderbilt, Carnegie and J.P Morgan
Railroad baron - 1870’s Bought up RR lines Forced smaller RR owners to sell to him Owned most lines between NY and Chicago
Cornelius Vanderbilt What advantages did he create for his business? Was it legal? What is is called when one company owns, runs all of the parts of an industry
John D. Rockefeller
oil baron - 1880’s & 90’s Bought up oil refineries Realized U.S. would become dependent on oil Largest, most powerful oil company - Standard Oil
John D. Rockefeller What are some of the oil companies today? What would happen if there were only one company? What do we call it when prices increase,value of money decreases
steel baron - 1890’s Bought up iron mines, steel mills, RR and steamship lines, warehouses Vertical integration - controlling all phases of an industry - from raw material to finished product
Andrew Carnegie What is the advantage of vertical integration?
J. P. Morgan
banking baron - 1890’s Controlled banks, corporations Would buy up shares in struggling companies and then take over By 1890’s owned most of the steel, rail companies
PHILANTHROPY Have you ever heard of any present- day institutions which have the name Vanderbilt? Carnegie? Rockefeller? Morgan?
Who: American-born industrialist Where: New York How: built wealth from shipping (steamships) and railroads
Bessemer Process The Bessemer process was the first inexpensive industrial process to convert iron into steel.
Technological Advancements and the Road to Greed…
Industrialization Lesson 3. What determines Productivity? Resources Transportation Public Policy Technology.
John D. Rockefeller & Andrew Carnegie Ch
An Age of Big Business Chapter 19 Section 3.
Tuesday Challenge What is the “Industrial Revolution”? What is “Mass Production”?
Industrialists Andrew Carnegie Improved steel making by studying the Bessemer process. Hired scientists and managers to improve factory efficiency. Purchased.
Big Business in the Late 19 th Century Aim: Were big business leaders “robber barons” or “captains of industry”?
Ch Age of Big Business Mrs. Manley. An Age of Big Business Edwin Drake- drilled the 1 st oil well in Titusville, Pennsylvania; led to creation of.
Chapter 3 Lesson 3 THE RISE OF BIG BUSINESS Main idea:
Cornelius Vanderbilt Vanderbilt built the railroads Majority of railway lines were owned by a few powerful men Offered secret deals to factories and industries.
Industrialization Unit 7. Industrialization period between the Civil War & WWI (1860 – 1914) when USA underwent economic transformation that involved.
Ch 4-2 pg.177 In 1856, Henry Bessemer developed a new process (the Bessemer process) to make stronger steel at a lower cost in England.
American Business Leaders ( see pgs. 27 in study packet)
The Rise of Big Business Main Idea: Corporations run by powerful business leaders became a dominant force in the American economy.
John D. Rockefeller. He made his money from oil. He controlled Standard Oil – a monopoly.
American History Do Now = Industrialization Pre-Test Agenda Analyze Data Multimedia Overview Notes Student Workbook Project.
Rise of Big Business.
Titans of Industry. Changes in Business Vertical Integration Controlling your suppliers Horizontal Integration Similar companies merging Social Darwinism.
Captains of Industry $ $ $ $ $. John D. Rockefeller Oil Refining Standard Oil Company.
SSUSH11 The student will describe the growth of big business and technological innovations after Reconstruction.
The Growth of Big Business The Rise of Big Business.
The Rise of Big Business. Henry Bessemer Created a cheap and efficient process for making steel.
The Rise of BIG BUSINESS. 1 st Industrial Revolution (Pre-Civil War) Most business were family-owned Produced goods for local or regional markets.
What you need to know: A. What your robber baron’s main trade was. Use pictures, text, quotes, just about any persuasive manner you can either put on a.
Industrialization in the United States 1860s – 1900s.
Mr. Hood U.S. History. Because of Industrialization we see the development of expanding markets. That means that old markets were expanded and new.
Have out dialogue homework to hand in. Notes in notebook
Trusts and Cartels
Chapter 20, Section 2 The Rise of Big Business What factors were responsible for the growth of huge steel empires after the Civil War? What benefits did.
Captains of Industry or Robber Barons? American History 1.
Who are these men? Rutherford Hayes James Garfield Chester Arthur Grover Cleveland Benjamin Harrison.
The Rise of Big Business. US economic system Private business run most industries, and competition determines how much goods cost and workers are paid.
The Rise of Big Business. The Steel Empire New strategies for steel making including the Bessemer process made steel making both easier and cheaper. No.
POOLS! What is it? Firms agreed to divide an area amongst themselves Share in the profits Used by Railroads Outlawed by the Interstate Commerce Act (1887)
Age of Big Business Sec Pages Define: Factors of production – land – labor – capital – corporation – stock - shareholders – dividends –
Warm-Up 4/10 If you could be the owner of any type of company, what would it be? Why?
Creation of Monopolies
Gilded Age. USA in the Gilded Age: Industrialization Reconstruction & Rise of Jim Crow Ranching, Mining, Farming.
Corporate Monopolies & Trusts. What IS a corporation? Some of you are saying this…
Industrialization 1. Think about a business you would want to own. 2. Make a list of all supplies you would need to purchase in order to run your business.
Chapter 5: Industrialization Section 3: Big Business Pages
The Second Industrial Revolution Unit 1 Section 2 Part 5.
The Rise of American Big Business Industriali zation.
The Growth of Industry. Industrialization: Factors Plentiful Natural Resources Improved Transportation Growing Population/High Rates of Immigration New.
THE RISE OF BIG BUSINESS
Robber Barons and Captains of Industry These are terms to describe the powerful industrialists who established large businesses in the late 1800s.
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