DR. FOOTE’S PROPHESY BOOK I 1865-1900. AMERICAN INFRASTRUCTURE TRANSPORTATION FIRM AGRICULTURAL BASE NATIVE TECHNOLOGY LABOR CAPITAL.

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Presentation transcript:

DR. FOOTE’S PROPHESY BOOK I

AMERICAN INFRASTRUCTURE TRANSPORTATION FIRM AGRICULTURAL BASE NATIVE TECHNOLOGY LABOR CAPITAL

RAILROADS , ,000 MILES

AGRICULTURE MORRILL ACT OF 1862 HATCH ACT OF ,000 ACRES/SEN. & CON. COLLEGES MUST BE COED $15,000/YR. FOR AGRICULTURAL EXPERIMENTAL STATION

AGRICULTURAL WORKERS

COLLEGES

NATIVE TECHNOLOGY LAND GRANT COLLEGES WILLIAM KELLY-EDDYVILLE, KEN. HENRY BESSEMER-ENGLAND 1ST STEEL PLANT ,000 TONS MILLION TONS

STEEL INDUSTRY IRON ORE LEONIDOS MERRITT MESABI RANGE

1ST MILLIONAIRES ANDREW CARNEGIE JOHN D. ROCKEFELLER

ANDREW CARNEGIE BORN IN SCOTLAND-1835 MOVED TO PENNSYLVANIA-1848 WORKED HIS WAY UP & SAVED AGE 30-GOES FULL-TIME INTO STEEL

REASON FOR CARNEGIE’S SUCCESS KEEP COSTS DOWN CHOSE CAPABLE SUBORDINATES WILLIAM JONES 8-HOUR DAY

VERTICAL INTEGRATION

CARNEGIE 1900 $480 MILLION UNTAXED

JOHN D. ROCKEFELLER BORN IN NY-1839 MOVED TO CLEVELAND-1855 BECAME PRODUCE MERCHANT 1863-INVESTED $4000 IN OIL REFINING

STANDARD OIL 1870 HORIZONTAL INTEGRATION CARTEL KEPT COSTS DOWN CONSOLIDATION % DROP REFINERIES-90% HORIZONTAL TO VERTICAL

ROCKEFELLER JUST AFTER TURN OF CENTURY $1 BILLION

GUSTAVUS SWIFT MEATPACKING ST REFRIGERATED BOXCAR 1878-SWIFT & COMPANY $300, $25 MILLION

LABOR , MILLION :4, :9 AGRICULTURE MANUFACTURING

CAPITAL “GO PUBLIC” USE PROFITS MERGER $2.3 BIL. OLIGOPOLY MONOPOLY AMERICAN SUGAR REFINING COM.

RESULTS WOOLWORTHES-1879 MONTGOMERY WARDS-1872 SEARS & ROEBUCK-1886 NEIMAN MARCUS A&P GROCERS

THOMAS EDISON LIGHT BULB PHONOGRAPH MICROPHONE ST PATENT

ELECTRIC INDUSTRY EDISON THOMSON-HOUSTON WESTINGHOUSE 1892 EDISON + THOMSON-HOUSTON = GENERAL ELECTRIC = $35 MILLION JOHN PIERPONT MORGAN

LIFE INSURANCE TONTINE 1900 EQUITABLE NEW YORK LIFE MUTUAL LIFE $1 BILLION