Industry and Inventions Was the rise in industry good for the United States?

Andrew Carnegie Scottish-American industrialist who led the enormous expansion of the American steel industry in the late 19th century. Carnegie is responsible for the mass production of steel in America. He controlled the most extensive steel operation - U.S. Steel - ever owned by an individual in the United States. He was also one of the most important philanthropists of his era. He donated millions of dollars to charities and foundations. He was a Social Darwinist. In 1890, Carnegie earned $25 million. That year, the average industrial worker make about $440.

Duel Roles

Carnegie’s House

Average Industrial Worker’s Home

Bessemer Process It was the first inexpensive industrial process for the mass-production of steel from molten pig iron. Allowed the price of steel to drop dramatically.

Carnegie Steel It was a steel producing company created by Andrew Carnegie to manage business at his steel mills in the Pittsburgh, Pennsylvania area in the late 19th century.

Carnegie Furnace

John D. Rockefeller He was an American industrialist and philanthropist. He was the founder of the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust. He undercut his competitors by making deals with the railroads, which agreed to ship its oil at discount prices. The saving on shipping allowed Standard Oil to cut its prices. The price cuts forced smaller oil companies to reduce prices, driving them out of business or sell to Standard Oil.

Rockefeller’s House

Worker’s Home

Workers’ House

Standard Oil By 1880, according to the New York World, Standard Oil was "the most cruel, impudent, pitiless, and grasping monopoly that ever fastened upon a country."Standard Oil gradually gained almost complete control of oil refining and marketing in the United States through horizontal integration.

Standard Oil Monopoly

Thomas Edison An American inventor and businessman. He invented the phonograph, the motion picture camera, and a long-lasting, practical electric light bulb. Edison originated the concept and implementation of electric-power generation and distribution to homes, businesses, and factories – a crucial development in the modern industrialized world.

Light Bulb!

Henry Ford An American industrialist, the founder of the Ford Motor Company, and sponsor of the development of the assembly line technique of mass production. His introduction of the Model T automobile revolutionized transportation and American industry. As owner of the Ford Motor Company, he became one of the richest and best-known people in the world. He is credited with "Fordism": mass production of inexpensive goods coupled with high wages for workers. He was the first business owner to establish the minimum wage. He raised workers’ pay from $2.40 per nine hour day to $5.00 per eight hour day. Ford was also widely known for his pacifism during the first years of World War I, but also for being the publisher of antisemitic texts such as the book The International Jew.

Mr. and Mrs. Ford in his first car.

Assembly Line A manufacturing process in which parts are added to a product in a sequential manner to create a finished product much faster than with handcrafting-type methods. The assembly line developed by Ford Motor Company between 1908 and 1915 made assembly lines famous in the following decade through the social ramifications of mass production, such as the affordability of the Ford Model T and the introduction of high wages for Ford workers. Henry Ford was the first to master the moving assembly line and was able to improve other aspects of industry by doing so (such as reducing labor hours required to produce a single vehicle, and increased production numbers and parts).

Assembly Line at Ford Motor Company

Alexander Bell An American scientist, inventor, engineer, and innovator who is credited with inventing the first practical telephone.

Alexander Graham Bell and his first telephone.

Corporation A business created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. If a corporation fails, shareholders may lose their investments, and employees may lose their jobs, but neither will be liable for debts to the corporation's creditors.

Capitalism Capitalism is an economic system that is based on private ownership of the means of production and the creation of goods or services for profit.

Cornelius Vanderbilt An American industrialist and philanthropist who built his wealth in shipping and railroads. He was also the patriarch of the Vanderbilt family and one of the richest Americans in history. Unlike his peers, Vanderbilt did not believe in giving away his money. He did, however, give money to start Vanderbilt University upon his death.

Vanderbilt Mansion

Trust A set of companies that are managed by a small group known as trustees. The trustees have the power to prevent companies in the trust from competing with each other.

Monopoly A company that completely dominates a particular industry. For example, Standard Oil owned 90% of the nation’s oil production. Without competitors, Standard Oil could raise its prices and reap great profits.

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Gilded Age Mark Twain coauthored a book about rich industrialists and corrupt politicians called The Gilded Age. The title describes American society at this time. Something that is gilded looks like gold from the outside, but isn’t. Industrialists made huge fortunes but the gap between the rich and the poor was huge.

Laissez Faire

Robber Barons Industrialist who drove out other businesses and raised prices by limiting competition. They kept wages low and imposed dreadful working conditions on their employees.

The Bosses