Presentation on theme: "Problems of the Industrial Revolution. Businesses Business Owners looking to make as much $ as possible, used strategies like: –Vertical Integration –"— Presentation transcript:
Businesses Business Owners looking to make as much $ as possible, used strategies like: –Vertical Integration – buy all industries needed to make your product so its cheaper to make Ex. Standard Oil, Carnegie Steel –Horizontal Integration – Monopolies and Trusts Ex. Standard Oil –Ruthlessness Vanderbilt – railroad magnate – said “Cant I do what I want with my own?” –Corruption Ex. Bribes and discounts for better rates – usually railroads and Standard Oil, Carnegie Steel
No Regulation on Businesses Monopolies = no competition = price soar No Regard for wildlife or land preservation Products made were not always sanitary –Ex. The Jungle
Conditions for Workers Avg. income of American worker was $400-$500 a year, below the $600 figure considered the minimum for a reasonable level of comfort. No job security 10 hours a day, 6 days a week, Steel worked 12 hours a day Unsafe, unhealthy factories – accidents were frequent/severe, little or no compensation for injuries Workers had no control over their workplace Women - $6-8 a week = Avg. women salary $314 a year Avg. Men salary $597 1.7 million children under 16 employed in 1900.