Presentation on theme: "Rise of Industrialism. Rise of Industrialism ***** Thesis: (When + Where + Topic + Significance) 1.(From the graphs, what generalization can you make."— Presentation transcript:
Rise of Industrialism ***** Thesis: (When + Where + Topic + Significance) 1.(From the graphs, what generalization can you make about the pattern of industrial growth between 1870 and 1920?) 2.(What was the connection between growth in coal and steel? How is the rapid growth of steel production a good indicator of an industrial “boom”?) 3.(Do you think the cartoonist would have described Vanderbilt as a “captain of industry” or a “robber baron”?)
UNEVEN DISTRIBUTION OF WEALTH wide gap between wealth/power of industrialists and average citizen the material “worth” of the top 10% is greater than that of the remaining 90% Paul Krugman
How do the capitalists justify this enormous accumulation of wealth? Social DarwinismSocial Darwinism –adapted Darwin’s theory of evolution –believed the “most fit” had succeeded, therefore they were selected to hold wealth/power –aggressive accumulation of wealth was part of the natural order, efforts to regulate it wouldn’t work
“Wealth is a sign of divine favor BUT you must use your superior talents/wealth to help others” Read my book – The Gospel of Wealth !!
TRUSTS How do they get so rich? By creating TRUSTS “COMBINATION” business made up of many companies centralized management in the hands of “trustees” stockholders By 1904, 5,300 businesses have been combined into 319 trusts
Trusts hold tremendous economic power By artificially lowering prices, they can drive competitors out of business. Because competition is limited, they have an unfair advantage in contracts Because competition is limited, they can set prices high. They can control supply.
Wealth increases for many Middle and Upper classes benefit –telephones, automobiles, appliances –ready-made clothing, fresh food –department stores –consumerism “White-collar” jobs –Big Business management –clerks, lawyers, accountants, secretaries
But not for all Less than 10 % high school graduates Only 1 in 4 own property Urban dwellers –inadequate sanitation, waste disposal –limited access to fresh water –overcrowding –unsafe building practices
Samuel Gompers founded AFL American Federation of Labor –“business unionism” –collective bargaining
IWW (International Workers of the World) The working class and the employing class have nothing in common. There can be no peace so long as hunger and want are found among millions of working people and the few, who make up the employing class, have all the good things in life. Between these two classes a struggle must go on until the workers of the world organize as a class, take possession of the means of production, abolish the wage system, and live in harmony with the earth….Instead of the conservative motto, ‘A fair day’s wage for a fair day’s work,’ we must inscribe on our banner the revolutionary watchword, ‘Abolition of the wage system.’ 1905
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