THE RISE OF BIG BUSINESS Industrial Revolution Part II

LONG TERM INDUSTRIALIZATION A.K.A things get a little better

Urban Renewal- the redesign and reconstruction of cities

Rise of the Middle Class Standard of living improves as more people are living above sustenance Level

The Cult of Domesticity Idealization of women and the home Puts emphasis on Male-Breadwinners Female- Homemakers Children- now get a proper “childhood” as we think of it today

Some Pictures to Start us out The Cult of Domesticity coincides with the Victorian Era, known for it’s prudishness

Cult of Domesticity - Expectations Women Men Children

Responses that use absolute words, such as "always" or "never" are less likely to be correct than ones that use conditional words like "usually" or "probably." "Funny" responses are usually wrong. "All of the above" is often a correct response. If you can verify that more than one of the other responses is probably correct, then choose "all of the above." "None of the above" is usually an incorrect response, but this is less reliable than the "all of the above" rule. Be very careful not to be trapped by double negatives. Look for grammatical clues. If the stem ends with the indefinite article "an," for example, then the correct response probably begins with a vowel. The longest response is often the correct one, because the instructor tends to load it with qualifying adjectives or phrases. Look for verbal associations. A response that repeats key words that are in the stem is likely to be correct. Think big picture themes associated with the time period

Mini-Practice-Trial Quiz 1. Which of the following contributed to the Rise of Big Business a. Technological innovation b. Cheap Sources of Energy c. Agricultural Productivity d. All of the above 2. What effect did the assembly line have on the cost of goods? a. It made goods cheaper. b. It made goods more expensive c. It made goods less available d. It made goods good 3. Selling stock in a company a. Raises Capital for that company b. Decreases the number of owners c. Changes the name of the company d. None of the above 4. Which of the following is true concerning Monopolies a. They are always profitable b. They are never profitable c. They are organizations that have control of an entire industry d. A Monopoly is the complete control the oil making industry 5. Social Darwinism is based on the idea of human being having gone through an a. Evolution b. De-Evolution c. Backlash d. Progression

The Rise of Big Business Last half of nineteenth century Associated w/ several new technologies Electrification Steam ships & railways Bessemer furnace Machine tools Assembly line Rotary printing press Two nations most affected United States Germany

Railroads on the Continent

Industrialization By 1850

What types of inventions were invented during this time? What categories?/ Why are these categories important?

Causes of Business Growth Technological Innovation Mechanization Agricultural Productivity Railroad & Communication Networks New, Inexpensive Power Sources Government Support New Methods of Organization

The Factory System Assembly line Centralized production Continuous production Division/ specialization of labor Replaced centuries old systems of hand labor and cottage industries

Henry Ford’s Assembly Line

An 1881 Edison Dynamo

How do the Rich Get Super Rich?

More Production = Bigger Business= Incorporation New technology need large amounts of capital To get capital owners sell stock (shares in the business) Stock holders are part- owners in the company Businesses that sell stock are called corporations

What is in it for investors What is in it for investors? - Question- The year is 2007, which company do you want to buy stock in? Google- $400 Walmart- $50 UPS - $75 Apple- $200 Microsoft- $30

Then and now (profit sharing) 2007 Google- $400 Walmart- $50 UPS - $75 Apple- $200 Microsoft- $30 2014 Google - 1,202 Walmart- 75 UPS-97 Apple-543 Microsoft-37 2013 Google- $790 Walmart- $70 UPS- $81 Apple- $442 Microsoft- $ 27

What is in it for owners? It become much quicker/easier to raise capital How Much Would You OWN if you bought a Stock of Google/Walmart/Apple/Microsoft? Google- 271,000,000 ($1,202) Walmart- 3,627,580,981 ($75) Apple- 900,680,000 ($543) Microsoft- 8,347,968,348 ($37)

New methods of business organization Monopolies-structures that control entire industries or areas of the economy

John D. Rockefeller (1839 – 1937) J. P. Morgan (1837 – 1913) Andrew Carnegie (1835 - 1919) Made his fortune in the oil industry Financier Created General Electric in 1891 Self-made millionaire Founded Carnegie Steel Co.

Captains of Industry or Robber Barons

Darwinism Charles Darwin publishes On the Origin of Species Argues all forms of life, including human beings have evolved to their present state Never intended for this to be applied to social ideas

Social Darwinism Survival of the fittest Racism finds a pseudo-science Industry tycoons are more “fit” Victory in war, means your culture is more “fit” Racism finds a pseudo-science Belief that certain races are superior to each other

Mini-Practice-Trial Quiz Revisited 1. Which of the following contributed to the Rise of Big Business a. Technological innovation b. Cheap Sources of Energy c. Agricultural Productivity d. All of the above 2. What effect did the assembly line have on the cost of goods? a. It made goods cheaper. b. It made goods more expensive c. It made goods less available d. It made goods good 3. Selling stock in a company a. Raises Capital for that company b. Decreases the number of owners c. Changes the name of the company d. None of the above 4. Which of the following is true concerning Monopolies a. They are always profitable b. They are never profitable c. They are organizations that have control of an entire industry d. A Monopoly is the complete control the oil making industry 5. Social Darwinism is based on the idea of human being having gone through an a. Evolution b. De-Evolution c. Backlash d. Progression