A New Industrial Age

Review 3 factors that lead to industrialization N_____________________ Examples: I______________________ Railroad=Time Zones Population Growth Why?

Vocabulary Capitalism: Economic system in which the people have the ability to own the means of production Monopoly: Complete Control over an industry's production, wages, and prices Social Darwinism: Survival of the fittest-laissez faire (let it be) doctrine of economics Sherman Anti-Trust Act…

Rockefeller vs. Carnegie Background information What did he specialize in? How did he create a monopoly? What did he do with his money

American Workers Demand Better Treatment Take notes on the back of your worksheet/chart from yesterday…………. Knights of Labor American Federation of Labor Labor Unions Collective Bargaining Arbitration Strike Answer the 2 critical thinking questions

Sherman Antitrust Act Makes it illegal to form a trust that interfered with free trade between state or with other countries Ineffective Did not clearly define trust If business felt pressure from the government, they would reorganize Industrial leaders turn that act against labor unions-striking workers, picket lines, and boycotts hurt interstate trade Eventually the government stopped trying to enforce the act and the consolidation of businesses continued

Summing it up…. Wealthy “robber barons” build monopolies Require a lot of cheap labor Leads to immigration Pay employees poorly, poor working conditions Leads to labor unions Leads to employers forbidding union meetings, firing union members, and yellow dog contracts The rich get richer-the poor get poorer Reading-Labor Unions

Readings: American Workers demand better treatment” 2 critical thinking questions Breaker Boys Make a list of working conditions Answer ?s 1-6 My Day in the Sweatshop ?s 1-3 and add Explain why 146 people died in the Triangle Shirtwaist Company fire