1 / 21

Industrialization of America

Industrialization of America. “Rags to Riches” The RISE OF BIG BUSINESS. Transformation of America. INDUSTRIALIZATION AND BUSINESS. POWERHOUSE The Titans . S O C I A L D A R W I N I S M . Applied from Charles Darwin’s theory of evolution of the species.

sauda
Download Presentation

Industrialization of America

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Industrialization of America “Rags to Riches” The RISE OF BIG BUSINESS

  2. Transformationof America INDUSTRIALIZATION AND BUSINESS

  3. POWERHOUSEThe Titans

  4. S O C I A L D A R W I N I S M • Applied from Charles Darwin’s theory of evolution of the species. • Adapted by Herbert Spencer to society and economics. • Used to explain that some individuals and businesses (corporations) are more fit – have more ability, work harder, more efficient and will be more successful.

  5. Cornelius Vanderbilt • Transportation in New York and Northeastern United States.

  6. The COMMODORE • Cornelius Vanderbilt

  7. Andrew Carnegie • From poor immigrant to the richest man in the world.

  8. Andrew Carnegie

  9. CARNEGIE – vertical consolidation • Control of ownership of all industries that produce the same product

  10. The Richest Man in the World • Sold CARNIGIE STEEL company to J.P. Morgan for $480 million. • Morgan consolidated Carnegie Steel with other steel companies to create UNITED STATES STEEL – the world’s largest steel company.

  11. Gospel of Wealth • Belief advocated by Andrew Carnegie • Concept that the wealthy should give their fortune back to society for improvement. • Gave millions to help establish public libraries. • Carnegie-Mellon University. • Carnegie Hall in New York. • Millions to help cure hookworm disease

  12. John D. Rockefeller • Rockefeller used shrewd business strategies to create Standard Oil Company and make it a monopoly

  13. Rockefeller – horizontal consolidation • Control of various companies that make the same product. Rockefeller controlled oil industries.

  14. The Standard Oil Octopus

  15. The Captains of Industry Positive term used to describe the industrialists as the leaders of the economic growth and prosperity, established businesses that provided jobs and opportunities for poor and immigrants, provided new products and services.

  16. The ROBBER BARRONS Negative term to describe the industrialists as being corrupt and using unethical business practices to establish monopolies; they eliminated competition; they took advantage of cheap immigrant labor and kept wages low, working hours long and unsafe.

  17. PUCK magazine The Bosses of the Senate

  18. coal Fueling American Industry • Abundance of natural resources • Coal • Iron ore • Oil • Water- electricity oil Iron ore

  19. Impact of the RAILROADS • Railroad industry • Steel Industry • Oil Industry • Consumer products

More Related