How do the “Robber Barons” make their fortunes?

Slides:

Advertisements

Similar presentations

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

Advertisements

The NEW Industrial Age. BIG BUSINESS AND LABOR Andrew Carnegie was one of the first industrial moguls He entered the steel industry in 1873 By 1899, the.

American History Chapter 14-3 Workers Organize. Gov’t. Regulates Big Business 1890 Sherman Antitrust Act: Illegal to form trusts that interfered with.

6.3 Big Business and Labor How did the U.S. depend upon the development of new business and technology?

Labor Unions form  Industrialization lowered the prices of consumer goods, but most workers still didn’t make enough to buy them  Their complaints usually.

Big Business and Labor. Carnegie’s Innovations He incorporated new machinery and techniques, such as accounting systems that enabled him to track precise.

The Labor Movement Chapter 5 Section 4.

Big Business & Labor How do the “Robber Barons” make their fortunes?

Big Business & Labor, 6.3 continued

Large Corporations in America Corporate Giants Carnegie Steel – Andrew Carnegie Standard Oil – John D Rockefeller Railroad – Cornelius Vanderbilt.

09/04 Bellringer 5+ sentences Conditions in the factories during the Gilded Age were horrible. Workers could expect to work between hours. There.

WARM-UP Think about the ethics of the industrial leaders of the late 19 th century…what was questionable about the way they ran their companies? Did they.

Resources that Fueled Industrial Growth  Coal & Iron spur industry 1870 – 77,000 tons steel 1900 – 11.4 mil. tons steel  Black Gold 1859 – Edwin Drake.

Big Business & Labor Ch 6.3. Social Darwinism From Darwin’s theory Formed by William Sumner & Herbert Spencer Principles of Social Darwinism 1)Natural.

#3 - Do now: What messages does this cartoon want to convey?

Bell Ringer What are scabs? Define injunction. What is the purpose of the Sherman Antitrust Act and was it effective?

Workers routinely worked 6 or 7 days a week, had no vacations, no sick leave, and no compensation for injuries Injuries were common – In 1882, an average.

Big Business and Labor Section 14-3 pp. 447 – 455 January 13, 2010.

Big Business -corporations develop -limited liability leads to public investment -mass market selling.

“Robber Barons”, Unions, & Strikes Union = A group joined together for a common goal / purpose.

Section 3: Big Business and Labor 1. Carnegie’s Innovations 1899 Carnegie Steel Company Management practices New machinery Better quality products/cheaper.

CHAPTER 6. REVIEW OF INDUSTRIALIZATION Caused by what? Science Resources Land Labor Capital.

How do the “Robber Barons” make their fortunes?

Labor Unions and Strikes Why join a union? Strength in numbers What were unions fighting against? 1) Exploitation a. Low Pay b. Long hours 2) Unsafe.

Big Business and Labor “Here’s the goose that lays the golden eggs.” What is Carnegie referring to?

Strikes, violence, and united demands LABOR UNIONS CHALLENGE BIG BUSINESS.

Big Business and Labor Chapter 14 Section 3 Notes.

Workers Organize. Gov’t & Business Gov’t maintained a hands-off approach to business But as corporations became all powerful, the gov’t became uneasy.

Big Business vs. Labor Adapted from Fulton County School District.

Ch 14 Section 3 Notes. Andrew Carnegie 1899 the Carnegie Steel Company was created Does Amazing He creates vertical integration  Where you buy all the.

Big Business and Labor The Workplace, Strikes, and the Rise of Labor Unions Topic 1.3.

Ch.6 section entered the steel business; by 1899 the Carnegie Steel Company manufactured more steel than all the steel companies in Great Britain.

Big Business & Labor How do the “Robber Barons” make their fortunes?

Opening Assignment (Bell Work) Get out your classwork from Friday if you had to finish it over the weekend. Turn in to Coach Croft. 1. Who was John D.

Big Business and Organized Labor

TOPIC 2: Industry and Immigration ( )

Resources/Inventions

Monopolies - exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices.

Monopolies - exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices.

14.3 – “Big Business and Labor”

14.3: Labor Unions Share with your partner(s) what you already may know about labor unions: - examples of some - what they do or try to do - good or bad.

Labor’s Response to Industrialization

How do the “Robber Barons” make their fortunes?

Big Business and Labor Chapter 14 – Sect. #3

P Big Business and Labor.

Working Conditions, Unions, & Strikes

How do the “Robber Barons” make their fortunes?

Labor Unions Ch 3 Section 4.

Workers of the Nation Unite

The Labor Movement The late 1800s.

Bell Ringer How did American economic principles and the ideas of social Darwinism encourage the growth of big business?

Workers Organize The Main Idea

Big Business and Labor.

Industrialization, Westward Expansion, Immigration, and Urbanization

Government practices Government supported laissez-faire economics

Monopolies - exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices.

Big Business and Labor.

How do the “Robber Barons” make their fortunes?

Ch.6 Sec. 3 Big Business and Labor

Labor Movement Labor unions formed.

Big Business and Labor.

Chapter 13 Section 3: The Organized Labor Movement

Unions: Workers Organize

Technology and Greed at Its Best

The Industrial Revolution

Bell Ringer What do you think of Plainview? Do you like him? Why or why not? Do you think workers have a right to strike? Should striking workers be protected.

Big Business and Labor The expansion of industry results in the growth of big business and prompts laborers to form unions to better their lives.

Second Industrial Revolution.

‘Robber Barons’ or Heroes of Industry?

Presentation transcript:

How do the “Robber Barons” make their fortunes? Big Business & Labor How do the “Robber Barons” make their fortunes?

The Robber Barons Businessmen and bankers who amassed huge personal fortunes, by using unfair business practices 2) JP Morgan- Banking 3) J. Rockefeller - Oil 1) A. Carnegie - Steel 4) L. Stanford - railroad 5) C. Vanderbilt – Ships, railroad 6) J. Gould - banking

Andrew Carnegie Immigrates from Scotland in 1848 at age 12 Clerk for the Superintendent the Pennsylvania Railroad by age 18. Does great job, boss offers him stock in company Become Superintendent of RR at age 24, starts investing money in other companies (oil, metal, cables) Forms a steel company in 1870s, most successful co in US Sells steel company to US Steel in 1901 for a HUGE profit

Carnegie’s Business Strategy Vertical Integration: Buy out suppliers of needed products and services so you control production top to bottom 2. Horizontal Integration: buy out competing producers so you are only co that offers that business 3. Pay workers low wages

John Rockefeller & Standard Oil Trust Rockefeller makes Standard Oil one of the biggest and most profitable American cos Rockefeller tactics: Paid very low wages, lowered prices to force competition to sell Formed trusts, trusts bought out companies (avoids monopoly laws)

Government Reaction to “robber barons” -Govt wants to protect free market, but feared big business is hurting competition -Sherman Anti-trust Act, 1890: tried to stop monopolies, making it illegal to form a trust that interfered with free trade/competition - difficult to enforce

Problems in the workplace 1) Terms of employment: 6-7 day weeks, 12+ hour days, no vacation, no sick leave 2) Poor physical conditions: polluted and often dangerous 3) Low Wages: so bad that millions of women/children forced to work -Eugene V. Debs forms American Railway Union - Samuel Gompers forms AFL for skilled workers -1905: radical unionists and socialists formed the Industrial Workers of the World (IWW) - Goal: organize unskilled labor and semi-skilled workers

Great RR Strike of 1877 -80,000 railroad workers strike -Shut down most railroad traffic for week -Joined by many other workers, property damage begins -President Hayes authorizes use of federal troops to stop the violence, end the strike

Haymarket Riot, 1886 - Chicago Police kill a striker. 3,000 gather to protest the police killing of striker, Chicago Mayor sends in Police to breakup the protest -someone throws bomb into police line, 7 police killed -Public opinion begins to turn against unions and strikes, connecting them to violence

Homestead Strike, 1892 -President of Carnegie Steel announces wage cut, workers strike - Carnegie to hire strike breakers(“scabs”), call in Pinkerton Detectives to protect the scabs -Pinkertons strikers and townspeople, 12 die in violence, strike is broken, Pullman Strike, 1894 4K workers at Pullman Rail go on strike due to wage & job cuts Strike led by Eugene Debs Am. Railway Union Strike shuts down all freight delivery west of Michigan Pullman hires strike breakers, violence ensues, President sends in Army, Debs jailed