New Inventions Create the chart on page 413 #2 in your notes. Be sure to include the inventor

Silent Read- 5-10 minutes Read, “One American’s Story” on page 421. How does Carnegie’s story lend itself to the “American Dream”

III. Captains of Industry Carnegie steel Vanderbilt railroads Rockefeller oil refineries J.P. Morgan banking

What is the artist trying to say?

What is a “robber baron”?* Individuals who achieved almost total control of their industry (monopoly) Gained power through un-ethical means Used their financial power to gain political power Film Clip

JP Morgan* Began his career in banking Bought out large portions of industry and made them more efficient and eliminate competition Paid off politicians Became one of the richest men in the word by the 1900s

Cornelius Vanderbilt* Began business in the steam-boat industry Profited from railroad industry and monopolized most of it Known to give politicians free railroad vouchers

John D. Rockefeller* Pioneered the oil industry with Standard Oil Many drills destroyed the environment around it Destroyed competition by buying them out and controlling distributors Had favorable rates in transportation

Andrew Carnegie* Poster boy for “rags to riches story” Considered the greatest capitalist of all time Monopolized steel industry and fired workers when they didn’t produce enough Dedicated life to philanthropy after retiring

Government Support* Laissez Faire Government- “let do” Government Corruption Any halt in growth hurts economy

But hey!? What about you? While they’re making millions, what happened to you?

What is fair? Equality of Opportunity Equality of Outcome What would be a fair way to set-up my grading system?

Capitalism A system in which private citizens own most, if not all, of the means of production and decide how to use them within legislated limits 1/1/2019 7 Market System

The Robber Barons Perspective* $$$ is the number 1 objective Faster/constant production makes $$$ Social Darwinism Poor deserve to be poor Rich deserve to be rich They have the opportunity

Laissez-Faire Literally means “let do” Implies, “let it be” or “leave it alone” Free from government intervention 1/1/2019 7 Market System

Explain the meaning of Rockefeller’s quote within the context of Social Darwinism. (p422)

Horizontal vs Vertical

So what did you do? What power do YOU have as the laborer?

You UNITED!

Power in Numbers* Union- a group of workers (usually from the same profession) that unite to be negotiated with by management Strike- a group of workers who refuse to work in order to enforce change

Things they fought for* Better working conditions Safety Fire Escapes Better treatment from supervisors Better hours Before- 10-16 hours Wanted- 8 hours Better wages Some paid as low as 10 cents /hr Money, not scripts

How do you think the business owner responded?

Chicago 1888 (Haymarket Riot)* 8,000 workers went on strike 8 hour work days Result – several workers killed by police Reaction – rally to protest killing, bomb thrown at policemen at the scene

1892 Carnegie’s Homestead Steel Plant Strike* Began because of surprise wage cut Managers hires 300 guards to protect against workers 16 guards and workers dead PA national guard sent in to help….MANAGEMENT Workers hired back with half pay