Bellringer Get out a piece of paper for a brainstorm.

Agenda BR Review Brainstorm Industrialism GAME TIME!

Brainstorm! With a partner or two, Brainstorm (based off of your previous knowledge and the video) the following: What is an entrepreneur? Who is an entrepreneur? (@ least 2) What are some characteristics? (@ least 3)

The Gilded Age Define Gilded age: Gilded means= a thin layer of gold So the Gilded Age means this is an era that really is not pretty- there are lots of problems but the surface of America looks shiny because there are so many new inventions/riches/technology

New Word Define Gilded Age: It was a term given to America in the late 1800s-early 1900s. Gilded means a thin layer/covered in gold. The surface of America was shiny and looked good. However, under that thin layer, there were lots of problems: corruption, poverty, diseases, etc. (think gold ring)

Bellringer Define the word gilded AND explain how the term Gilded Age fits this era (1880s-1900s)

Bellringer Define entrepreneur, list the #1 most important quality an entrepreneur must have and 2 examples of who one is. An entrepreneur is an innovator- a person who invents/creates and starts their own business. They want to solve a problem- make life better. Entrepreneurs are risk takers, they are persistent, optimistic, hard worker, intelligent, and have a plan. Ford, Carnegie, Rockefeller, Oprah, Gates, Jobs, Tom, and Walton are examples of entrepreneurs.

BR Study for map test

Bellringer What is industrialism? What was the time frame this occurred? *Get out your homework- 2 column notes* *Put your book back if you haven’t yet- and cross your name off the list* *MAP TEST TODAY!!*

Agenda BR Review Map test Industrialism Game time

Industrialism in America Growth of Big Business in the Late 19th Century

So what is it? Industrialism = modernizing- basing our economy off of factories and manufacturing rather than agriculture Our nation was industrializing during this time period 1880s-1900s- lots of growth Causes? 1. Lots of natural resources to use (coal, lumber, oil) 2. Lots of immigrants from Europe that we could use as a work force 3. Government was LAISSEZ FAIRE letting businesses grow and have lots of power

New Technologies Light bulbs, phonographs, electricity, railroads, telegraph, telephone, streetlights, trolleys, skyscrapers, elevators, subways, sewers, underground pipes Made life easier and cheaper to communicate and travel YAY ELECTRICITY!

Thank you Edison! So I don’t have to look like this! Thomas Alva Edison created the light bulb and phonograph Which led to electric companies forming

Impact of Industrialism Cheaper and easier to move around, communicate, make goods Increase in standard of living Growth of cities (up and out) Mass consumerism- people buying ready made stuff instead of making it

Bellringer What was the role of the government during the Gilded Age? (think hand gesture)

Agenda BR Review Grades Industrialism

Rise of Big Business Before the Civil War, most businesses were small (mom and pop), but by the 1900s most were large CORPORATIONS or big businesses

Man of Steel Carnegie invested in and became a tycoon in the steel industry. **Carnegie = steel. His company was called the Carnegie Steel Company and later became US Steel

Rockefeller Rockefeller invested in and reshaped the oil industry. **Rockefeller = oil. His company was called Standard Oil.** He got huge discounts from the railroads since he shipped so much, so he was able to keep his prices low.

Robber What? Define robber baron in normal English: A robber baron is a businessman who used ruthless tactics to get ahead What are some tactics a robber baron uses? Robber barons used low wages, no healthcare, long hours, and child labor. They did this to lower their cost of production so they could wipe out competition.

Captains of Industry These big business men were also seen as Captains of Industry Increases productivity, create jobs, gives back Philanthropist = someone who donates/gives back

Giving and Taking Both Rockefeller and Carnegie, after they retired, donated a lot of money to public foundations. While some called them robber barons, they were also philanthropists. Carnegie and Rockefeller justify their donations over raising wages of employees because they said… Wages were wasteful and temporary while donations lasted longer- bigger impact.

Collect $200! Define trust and it’s impact in normal English: A trust (or merger) is a bunch of companies that combine which reduces competition. Basically it’s a really big business or corporation It could eventually become a monopoly…

Monopoly Mono = one When one group/business/individual controls a whole industry They eliminate all competition and control supply and price

Side to Side A horizontal merger is when businesses in the same industry all merge and form a monopoly. Rockefeller used horizontal merging because he bought up all of his competition in the oil industry. He was able to control the price of the product.

Up and Down A vertical merger is when businesses buy up all the materials they need to make their product. Carnegie used vertical merging because he bought up all of the industries needed to make steel (coal, iron, steel, ships, railroads). You control all steps of production and price.

Adapt or Die Because there was a huge gap between the rich and the poor, a theory called social Darwinism became popular.

Survival Of The Fittest Explain: Survival of the fittest- men evolved from apes, most fit= most successful- do what it takes to be the best. Weak die off- don’t have skills.

Government’s Role Darwin believed that the government SHOULD NOT get involved in the economy in order for the strong to distinguish themselves from the weak (LAISSEZ-FAIRE = HANDS OFF)

Farmers Rejoice! While the government was LAISSEZ FAIRE, they did create the Interstate Commerce Commission to REGULATE the RAILROADS so that they couldn’t charge ridiculous rates to farmers

Time to act it out!

Bellringer Define robber baron. What theory did robber barons use to justify their actions? What did they think the role of the government should be? Robber barons were big businessmen who used unethical tactics to get ahead and eliminate competition. Robber barons believed in social Darwinism- survival of the fittest- do whatever it takes to be the best They believed that the role of the government should be hands off (laissez- faire) and that the gov’t should not get involved to help the weak

Bellringer Explain Social Darwinism *Map test today

Agenda BR Review Map test New states Immigration