Economic Growth USH-4.2 & 4.3.

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

Technological Innovations
How did the Panic of 1893 affect the Presidential election of 1896? Hint: your answer should use words like “gold standard”, “bimetallists”, and “run on.
Gilded Age.
Chapter 19, Section 2 Big Business
South Carolina Standard USHC-4.3 Mr. Hoover, Abbeville High School.
Wednesday/Thursday, Sept. 17 & 18 Objective: We will analyze the impact of big business on America in the early 1900s. Agenda: Warm Up Monopolies and Growth.
THE RISE OF BIG BUSINESS
Call to Order 1. Describe two details in the picture. 2. Using the picture, define the word: “Competition” 3. Why might competition between two companies.
The Growth of Big Business in the Gilded Age Ch. 6, Sec 2.
The Rise of Big Business
After the Civil War, the North and West grew quickly. Railroads helped the West grow, while industrial cities sprang up all over the north employing many.
UNITED STATES HISTORY AND THE CONSTITUTION South Carolina Standard USHC-4.2 Mr. Hoover, Abbeville High School.
Industrialization Making of the Good Life. INDUSTRY Causes of Industrialization Abundant Natural Resources Abundant Natural Resources –Lumber, Coal, Oil.
Industrialization 1850’s Inventions that lead to Industrialization Thomas Edison & Menlo Park Thomas Edison & Menlo Park Light bulb, Phonograph,
What factors influenced American growth and expansion in the late nineteenth and early twentieth century?
The Rise of Big Business
Before the Civil War, most American businesses were owned by a single person or a partnership After the Civil War, industry (mills, factories, railroads,
The Rise of Big Business Main Idea: Corporations run by powerful business leaders became a dominant force in the American economy.
Railroads & Big Business
Big Business.
Creation of Monopolies
USHC Standard 4: The student will demonstrate an understanding of the industrial development and the consequences of that development on society and politics.
Industrialization and the rise of big business begins on page What effect did the transcontinental railroad have on the United States? 2.What is.
The Free Enterprise System The Corporation Before the Civil War, most American businesses were owned by individuals or by a group of partners. After the.
Big BusinessInventions & Inventors Words To Know The Work Force $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200.
The Growth of Big Business The Rise of Big Business.
CAPITALISM AND THE U.S. ECONOMY – LATE 1800’S 4.3 EVALUATE THE ROLE OF CAPITALISM AND ITS IMPACT ON DEMOCRACY, INCLUDING THE ASCENT OF NEW INDUSTRIES,
ECONOMIC GROWTH 4.2: Analyze the factors that influenced the economic growth of the United States and its emergence as an industrial power, including the.
Standard 4.3.   Economic system that is characterized by private ownership of property for profit  Before the Civil War, corporations promoted industrialization.
Capitalism & Democracy
Bell Ringer Write these down and respond on a separate sheet of paper:
The Triumph of Industry
Bell Ringer Make sure that you have a canvas account by Tuesday (Aug16th): Why is competition between business so important to the American economy? What.
Bell Ringer Day 2 Industrialism and Immigration Bellringer In Canvas.
Business After 1865.
Effects of Industrialization
The Growth of Big Business
The Rise of Big Business “Survival of the Fittest”
Industrialization & the Railroads
The Rise of Industrial America
4.2 – Government and Business Growth
Andrew Carnegie 1899 Carnegie Steel Improved quality and cut costs.
Big Business and Organized Labor
Industrialization in the Late 1800s
Growth of Industry and Big Business
Economic Growth USH-4.2 & 4.3.
USHC Standard 4: The student will demonstrate an understanding of the industrial development and the consequences of that development on society and politics.
Industrialization, Immigration, Urbanization in the U.S
The Rise of Big Business “Survival of the Fittest”
The Rise of American Big Business
Technology and Industrial Growth
Define the following key terms. Use your book Social Darwinism
Aim: Should the American tycoons of the late 1800s be remembered as “robber barons” or “captains of industry”?
The Expansion of American Industry
Technology, Industrial Growth, and Big Business
The Industrial Revolution ( )
Big Business.
The Rise of Big Business
The Rise of Big Business “Survival of the Fittest”
Objectives Analyze different methods that businesses used to increase their profits. Describe the public debate over the impact of big business. Explain.
Economic Growth USH-4.2 & 4.3.
Unit 5 Part 2 – Industrial Businesses
Chapter 19, Section 2 Big Business
Industrialization Notes
The Rise of Big Business
Chapter 14 section 2 Growth of Big Business.
II. The Growth of Industry in the US & Rise of Big Business
Wassup B Spa? What are pros and cons of “Walmart”?
Business After 1865.
Presentation transcript:

Economic Growth USH-4.2 & 4.3

I. Factors Economic boom during and after Civil War Major factors: Land and natural resources Labor – workers Capital – money Technology Entrepreneurship – starting businesses

II. Beginnings US government provided environment that helped businesses Protective tariff to help northern business National bank provided capital and regulated lending Westward expansion opened new markets and raw materials Gov’t removing NAs helped

II. Beginnings Supreme Court helped Steam engine Dartmouth v Woodward held up contracts and protected patent laws Gibbons v Ogden regulated interstate commerce Steam engine Steamboat Railroad Oil drilling

III. Growth Congress helped railroads and regulated banking War contracts stimulated many businesses Gov’t provided protection for western settlers Raised tariffs Higher wages but higher prices Promoted open immigration to have lots of workers when needed Chinese Exclusion Act was passed after the railroad was completed and they no longer needed them

III. Growth Gov’t helps break up and end strikes Helps Big Business Hurts poor workers Surplus of goods become exports Gov’t wants to expand (imperialism)

IV. Capitalism Economic system that has private ownership of property and it is used to make a profit For individuals or corporations Supports democratic ideas of freedom and opportunity Hard work = more money No work = no money Corporations grow during Civil War and have greater influence

V. Railroads Leads to the growth of other industry Lumber – RR ties Steel – rails & engines Coal – for steam and transporting it Meat packing – special cars for transporting it Grow so big that when some RRs go bankrupt, the whole country goes into a depression

VI. Vertical Integration Form of a monopoly where every aspect of production is controlled Andrew Carnegie – owner of US Steel Owned coal mines Owned iron ore mines Owned steel mills Controlled steel distribution Able to drive prices down to kill competition

VII. Horizontal Integration To entirely control one facet of production to create a monopoly John D Rockefeller – owner of Standard Oil Controlled almost all oil refineries in US Undersold competition Forced retail outlets to NOT sell competitors Forced RR to give him sweet deals

VIII. Robber Barons? Were business leaders: Ripping off the public for their personal wealth Captains of Industry Using capitalism to make the US wealthy Monopolies lead to the Sherman Anti-Trust Act Limits on Big Business and breaks up monopolies

VIII. Robber Barons? CEO’s used cut-throat practices justified by: Social Darwinism Survival of the fittest for people and businesses Laissez-faire “Let it be” Gov’t doesn’t touch the economy They still wanted gov’t protection against labor

VIII. Robber Barons? Many became philanthropists Gave away millions for: Schools Hospitals Libraries Theaters Orphanages Charities “Buying their way into Heaven”

IX. Standard of Living Life got better for most people Monopolies create lots of new products Electricity Typewriter and telephone New jobs for women Mass production lowers prices Henry Ford’s moving assembly line in 1913 Some farmers & factory workers still have nothing