Robber Baron’s vs. Captains of Industry The Industrial Revolution

The Industrial Revolution Overview What factors led to the Industrialization of America, and what impact did Industrialization have on society?

Captain of Industry Increases availability of goods by building factories Raises productivity Expands markets Creates more jobs Funds many of the nation’s public institutions: practices philanthropy- (giving generously to charitable causes) Organizes the factors of production efficiently George F. Johnson Practiced “Welfare Capitalism,” paying his workers well. He offered workers a “square deal.” Provided workers with company housing. Built public parks and ball fields, donated carousels, etc

Robber Barons Drains the country of its natural resources Corrupts public officials to interpret laws in their favor Drives competitors to ruin Pays poor wages Forces workers to toil under dangerous and unhealthy conditions Exploits the factors of production Mr. Burns Tried to cover up to the sun to raise energy prices Steals candy from babies Runs a nuclear power plant that pollutes the environment and caused Homer to become sterile. Skimps on tartar sauce in the factory cafeteria

Robber Baron or Captain of Industry? The Industrialists Industrialist What they did… Robber Baron or Captain of Industry?   There are 6 different readings on the wealthy who controlled the majority of Industry in the United States. Read about each person and complete the graphic organizer. You need to make your way around to all 6 by the end of the class period. Think about these following: How did technology impact the growth of the United States? How did the rise of big business lead to the formation of labor unions?

Philosophy of Industrialization “Survival of the Fittest” – Social Darwinism “It is…essential for the progress of the race that the houses of some should be homes for all that is highest and best in literature and the arts…Much better this great irregularity than universal squalor.” -Andrew Carnegie, “Gospel of Wealth” Business owners used these concepts to justify their business methods and accumulation of wealth. Laissez-faire capitalism - private ownership of the factors of production and very little government intervention so those who could take advantage of others did. Led to: Poor distribution of wealth, Harsh treatment of workers, Disregard for consumer safety, and Spread of monopolies, Are these practices still seen today’s business practices?