INDUSTRIALIZATION 1865-1900.

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Presentation transcript:

INDUSTRIALIZATION 1865-1900

Incredible Economic Expanson Manufacturing: $3 Billion (1869) to $13 billion (1900) Iron Ore Production grows 4x GNP grows 3x BIG BUSINESS emerges

The BIG QUESTIONS 1. What made this enormous growth possible? 2. How does the market respond? 3. What was the effect on People? (who wins, who loses?)

What is Paleotechnology?

What is Paleotechnology? (Exploitation of Fossil Fuels)

CoalSteel (Bessemer)

CoalSteel (Bessemer)Rails and Girders

CoalSteam

CoalSteamMechanization

CoalSteamMechanization TurbineElectricity

Oil and Communications

Foreign Investment Tariffs Additional help…. Foreign Investment Tariffs

Changes to Manufacturing Additional help…. Foreign Investment Tariffs Changes to Manufacturing Economies of Scale and Scope Division of Labor Continuous Flow

How does Business implement these changes?

How does Business implement these changes? Rise of Middle Management

How does Business implement these changes How does Business implement these changes? Rise of Middle Management Emergence of the CORPORATION

How does the Railroad Nurture Economic Expansion?

With new technologies and a new Business Model… How does the MARKET respond? (Question 2)

“Robber Barons”—Morgan, Rockefeller, Carnegie

John D. Rockefeller

The Four “C”s - Competition

“Competition is a sin” --John D. Rockefeller

Competition Cooperation The Four “C”s Competition Cooperation

Competition Cooperation Consolidation (Horizontal) The Four “C”s Competition Cooperation Consolidation (Horizontal)

“Let us Prey”

The Four “C”s Competition Cooperation Consolidation (Horizontal) Centralization (Vertical)

Market share

What Makes Big Business Something New? Capital Fixed Costs Nature of Ownership

What was the effect on people? (Who wins? Who loses?) (Question 3)

How do they justify the wealth?

What is Social Darwinism?