Warm Up: Wednesday 10/7 Define Darwin’s Theory of Evolution. How does Darwin’s Theory of Evolution relate to business and the Titans of Industry?

John D. Rockefeller What was the name of his trust company? Standard Oil How did he make huge profits? Paid employees extremely low wages and driving his competitors out of business Why do you think monopolies may be illegal? Monopolies can manipulate the market with predatory pricing What did the Sherman Antitrust Act do? Made it illegal to form a trust that interfered with free trade between states or with other countries Would you consider him more of a philanthropist or a robber baron? Why? Philanthropist – gave away lots of his money ; Robber baron – manipulated the market

Henry Ford In which industry did he make a name for himself? The automobile industry What was the name of his company? His first model? Ford Motor Company – Model T What were some of his revolutionary new mass-production methods? Use of large production plants, standardized interchangeable parts, and the moving assembly line What mass-production technique is he most famous for innovating? The assembly line What was the significance of mass production? Cut down on the time required to produce, which allowed costs to stay low What did he do for his workers in setting a new standard for the industry? Increased the daily wage more than twice as much

WHO ARE RECENT TITAN’S OF BUSINESS?

POLITICAL CARTOON #1

SOCIAL DARWINISM – PAIR SHARE Would you agree or disagree that “poverty is a sign of laziness and inferiority?” What kinds of people would support this idea? Does everybody have the same starting line? Is everyone dealt the same hand of cards?

HARD WORK, SHREWD INVESTMENTS, AND INNOVATIVE BUSINESS PRACTICES MAKE MEN RICH Herbert Spencer- justify laissez faire. Marketplace should not be regulated. Individuals were rich because of work ethic. Riches were a sign of God’s favor. Poor deserve their lot in life.

WARM-UP FOR FRIDAY Compare the difference between a Robber Baron and a Titan of industry/philanthropist.

QUIZ TODAY!! You may use your notes You may not use other people’s notes All classwork will be turned in at the end of the period…… 1) The Titan of Industry you feel made the biggest impact write up 2) 4 Square worksheet

THE GOSPEL OF WEALTH IS AN ARTICLE WRITTEN BY ANDREW CARNEGIE IN 1889 THAT DESCRIBES THE RESPONSIBILITY OF PHILANTHROPY BY THE NEW UPPER CLASS OF SELF-MADE RICH. CARNEGIE PROPOSED THAT THE BEST WAY OF DEALING WITH THE NEW PHENOMENON OF WEALTH INEQUALITY WAS FOR THE WEALTHY TO REDISTRIBUTE THEIR SURPLUS MEANS IN A RESPONSIBLE AND THOUGHTFUL MANNER. CARNEGIE ARGUED THAT SURPLUS WEALTH IS PUT TO BEST USE (I.E. PRODUCES THE GREATEST NET BENEFIT TO SOCIETY) WHEN IT IS ADMINISTERED CAREFULLY BY THE WEALTHY.

THE GOSPEL OF CARNEGIE POLITICAL CARTOON #2

TRUSTS Joined competing companies in trust agreements. Participators in trusts turned their stocks over to a group of trustees. Trustees ran the separate companies as one large corporation in return for profits. Rockefeller used a trust to gain control of the oil industry in America. Rockefeller

POLITICAL CARTOON #2

THE TRIANGLE SHIRTWAIST FACTORY FIRE The Triangle Shirtwaist Factory fire in Manhattan, New York City on March 25, 1911 was the deadliest industrial disaster in the history of the city, and one of the deadliest in U.S. history. The fire caused the deaths of 146 garment workers – 123 women and 23 men – who died from the fire, smoke inhalation, or falling or jumping to their deaths. Because the owners had locked the doors to the stairwells and exits, a common practice used to prevent workers from taking unauthorized breaks and pilferage, many of the workers who could not escape the burning building jumped from the eighth, ninth, and tenth floors to the streets below

POLITICAL CARTOON #3

WORKING CONDITIONS FOR CHILDREN

CONDITIONS FOR CHILD WORKERS Children as young as six years old during the industrial revolution worked hard hours for little or no pay. Large, heavy, and dangerous equipment was very common for children to be using or working near. Many accidents occurred injuring or killing children on the job. The people who the children served would beat them, verbally abuse them, and take no consideration for their safety.

CREATE YOUR OWN DIARY ENTRY After reading the diary entries of the two child laborers, you will now place yourself in the shoes of a child working in a factory. You will describe your made up experience. Describe the conditions in which you work How do you feel physically? Emotionally? How are you treated by fellow employees? Adults? Your boss? Describe what you make and what your job is at the factory.

POLITICAL CARTOON #4