1. The Triumph of Industry
Chapter 4

2. Late 1800s became known as the second Industrial Revolution.
America embraced technology to expand business.

3. Who made up the workforce after the civil war?
Asian and European Immigrants
Who made up the workforce after the civil war?

4. What are Push/Pull Factors?
Push Factors
Something that drives you away
Pull Factors
Something that attracts you
What are Push/Pull Factors?

5. What pull immigrants to America?
Economic opportunities
Religious Freedom
What pull immigrants to America?

6. Why did employers Choose Immigrant Workers over American workers?
Immigrants were willing to work for low wages
Willing to move for economic opportunities
Why did employers Choose Immigrant Workers over American workers?

7. An economic system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
Private businesses make independent decision about prices, production and distribution of goods resulting.
What is Capitalism?

8. A person who organizes and operates a business or businesses.
They take on greater than normal financial risks in order to do so.
What is a entrepreneur

9. What government policies contributed to industrial growth?
Protective Tariffs
Taxes that made imported goods cost more than those made locally.
Laissez faire Polices –
allowed businesses to operate with minimal government regulation.
What government policies contributed to industrial growth?

10. Steel transforms America
Bessemer Process – developed by Henry Bessemer develop a process for stronger and light weight steel
By 1890 USA was out producing steel manufacturers
Innovations that due to steel: Skyscrapers and Suspension Bridges
Steel transforms America

11. Why did people begin to move during the industrial revolution?
Many farms became mechanized leaving farm workers jobless
Many out of work farmers moved to urban areas to find factory jobs
Why did people begin to move during the industrial revolution?

12. The rise of Big business
Chapter 4 section 2

13. A number of people share ownership of a business
What is a corporation?

14. Paid workers very little Advertising
Created research labs (inventors could experiment with new products)
How did corporations maximize profit and decrease cost during the industrialization?

15. A corporation has Complete control of a product or service
A corporation must buy out his competitors or drive them out of business
What is a Monopoly?

16. When several companies unify and drive out competition to increase profits by decreasing cost
What are Trust?

17. Why are monopolies/trust bad for consumers?
There are no other choices for product or service (little to no competition)
Company is free to set their own prices
Why are monopolies/trust bad for consumers?

18. Ways to create a monopoly
Horizontal integration – When a business acquires/buys many companies within the same industry
Vertical integration- when a business gains control or buys many different businesses that make up all phases of production of a product.
Ways to create a monopoly

19. Captains of Industry

20. What are Captains of industry?
A Positive Nickname given to business leaders during Industrialization
Provided Jobs
Supported technological growth
Were philanthropist
What are Captains of industry?

21. A Negative Nickname given to Businessmen During the Industrial Revolution
Squeezed out competition
Harmed consumers with high prices
Took advantage of the poor
What are Robber Barons?

22. What is natural Selection ?
Charles Darwin developed the theory of Natural Selection
Only the Fittest Survive to reproduce
What is natural Selection ?

23. What is Social Darwinism
The belief that those that have wealth are the most “fit” to have it
People who supported social Darwinism were call social Darwinist
They believed the government should not interfere with private business nor use public funds to help the poor
What is Social Darwinism

24. How Did the Federal Government Begin to Regulate corporations?
Interstate Commerce Commission
Sherman Anti-Trust Act
How Did the Federal Government Begin to Regulate corporations?

25. What is ICC & Sherman Anti-Trust Act?
Interstate Commerce Commission – oversees railroad operations
Sherman Anti –Trust Act- outlawed trust (but was rarely enforced)
What is ICC & Sherman Anti-Trust Act?

26. Problems Factory workers Faced
Low wages
12 hour + days (6 days a week)
Dangerous working conditions
Child Labor
Problems Factory workers Faced

27. An organized association of workers, formed to protect and further the rights and interests of workers.
What are labor Unions?

28. Major labor unions AFL – American Federation of Labor
Samuel Gompers (founder)
Included skilled and unskilled workers
Excluded women and African Americans as members
Set high dues for membership
Later merged with the CIO (Congress of Industrial Organizations) to form AFL-CIO in 1955.
Knights of Labor
Uriah Smith (founder)
Women and members of all races
Major labor unions

29. Tactics labor unions used
Collective Bargaining – negotiating as a group for higher wages
Strike – Cease working
Tactics labor unions used