Big Business Emerges Businesses consolidate into big industries or ________________ These are run by businessmen who become very wealthy and become known as ___________________.
Big Business Emerges Businesses consolidate into big industries or corporations These are run by businessmen who become very wealthy and become known as _____________.
Big Business Emerges Businesses consolidate into big industries or corporations These are run by businessmen who become very wealthy and become known as robber barons.
Government practices Government supported laissez-faire economics _______________ Government does very little _________ Result=very wealthy businesses and lots of corruption and little competition
Government practices Government supported laissez-faire economics Means hands off Government does very little _________ Result=very wealthy businesses and lots of corruption and little competition
Government practices Government supported laissez-faire economics Means hands off Government does very little regulation Result=very wealthy businesses and lots of corruption and little competition
Social Darwinism Idea that the best individuals will succeed The survival of the _______ Government should do very little
Social Darwinism Idea that the best individuals will succeed The survival of the fittest Government should do very little
Robber Barons or Captains of Industry? Andrew Carnegie Built a giant steel firm Bought out competition and provides of raw materials and transportation of his goods Known as __________ consolidation
Robber Barons or Captains of Industry? Andrew Carnegie Built a giant steel firm Bought out competition and provides of raw materials and transportation of his goods Known as vertical integration
Vertical Integration Buying out companies for ________ of the productive process from raw materials to marketing.
Vertical Integration Buying out companies for every stage of the productive process from raw materials to manufacturing to marketing.
John D. Rockefeller Another robber baron Controlled ___________ Bought other oil companies This is horizontal consolidation=controlling competition at ________ ___ process of a product.
John D. Rockefeller Another robber baron Controlled Standard Oil Bought other oil companies This is horizontal consolidation=controlling competition at ________ ___ process of a product.
John D. Rockefeller Another robber baron Controlled Standard Oil Bought other oil companies This is horizontal consolidation=controlling competition at one step in the process of a product.
Horizontal Integration Vertical Integration
Other robber barons Cornelius Vanderbilt: _____ ______________ J. P. Morgan: __________ Robber barons did philanthropy work (gave money to charities)
Other robber barons Cornelius Vanderbilt: RR monopolist J. P. Morgan: __________ ______________ Robber barons did philanthropy work (gave money to charities)
Other robber barons Cornelius Vanderbilt: RR monopolist J. P. Morgan: banking monopolist Robber barons did philanthropy work (gave money to charities)
Are you a philanthropist? Could you be?
Monopolies and trusts Robber barons created _________ Where a firm controls _________ _________________ Also created _____ Companies agree to work together
Monopolies and trusts Robber barons created monopolies Where a firm controls _________ _________________ Also created _____ Companies agree to work together
Monopolies and trusts Robber barons created monopolies Where a firm controls all the competition Also created _____ Companies agree to work together
Monopolies and trusts Robber barons created monopolies Where a firm controls all the competition Also created trusts Companies agree to work together
Sherman Anti-trust Act Congress passed the Sherman anti-trust act to outlaw ______________ ___________ Difficult to enforce
Sherman Anti-trust Act Congress passed the Sherman anti-trust act to outlaw trusts and monopolies Difficult to enforce
What’s wrong with this? What’s wrong with having monopolies and no competition?
Lets Review Video
End Finish working on Guided Reading 19-2 front and back (Due Monday)
Industrial Workers
Working conditions Conditions were terrible Long hours Dangerous conditions Poor living conditions Child Labor To improve conditions formed labor unions
Development of Labor unions Labor Movement: unions illegal until 1840's for interfering in commerce, black lists Federal Government kept unions weak
Unions Knights of Labor: unskilled/skilled workers demanded reforms in child labor, safety, hours (8 hr day), equal pay for women American Federation of Labor: skilled workers demanded higher pay, shorter work weeks.
Strikes Strikes resulted and usually ended in violence. Government usually sent in troops against the unions
3 Main Goals of Unions Write these on the side of your notes Shorter hours (8 hours of work, 8 hours of sleep, and 8 hours for whatever) Higher wages Safer working conditions
Notable Strikes Great RR Strike of 1877: RR shut down, Hayes used army to end strike Haymarket Square Riot: bomb killed 7 policeman, police fired on strikers Homestead Strike: Carnegie hired Pinkertons to violently end strike Pullman Strike: RR shut down, federal troops brought in and people get hurt and lose their jobs.
Business leaders react Unions were prevented by: Not hiring union workers Banning union meetings Using the courts and troops to stop unions
End
Homework: Read 568-569 and complete this chart Date Conflict Causes Outcome May 1886 June 1892 1894
Date Conflict Causes Outcome May 1886 June 1892 1894
Date Conflict Causes Outcome May 1886 Haymarket Riot June 1892 1894
Date Conflict Causes Outcome May 1886 June 1892 1894 Haymarket Riot Workers gather to protest the killing of two strikers by the police June 1892 1894
Date Conflict Causes Outcome May 1886 June 1892 1894 Haymarket Riot Workers gather to protest the killing of two strikers by the police Riot breaks out and many more protesters as well as police are killed. Knights reputation is harmed. June 1892 1894
Date Conflict Causes Outcome May 1886 June 1892 1894 Haymarket Riot Workers gather to protest the killing of two strikers by the police Riot breaks out and many more protesters as well as police are killed. Knights reputation is harmed. June 1892 Homestead Strike 1894
Date Conflict Causes Outcome May 1886 June 1892 1894 Haymarket Riot Workers gather to protest the killing of two strikers by the police Riot breaks out and many more protesters as well as police are killed. Knights reputation is harmed. June 1892 Homestead Strike Carnegie steel workers protested new machinery that would cost them jobs 1894
Date Conflict Causes Outcome May 1886 June 1892 1894 Haymarket Riot Workers gather to protest the killing of two strikers by the police. Riot breaks out and many more protesters as well as police are killed. Knights reputation is harmed. June 1892 Homestead Strike Carnegie steel workers protested new machinery that would cost them jobs. Carnegie hired Pinkertons to violently end strike. Union lost strike. 1894
Date Conflict Causes Outcome May 1886 June 1892 1894 Haymarket Riot Workers gather to protest the killing of two strikers by the police Riot breaks out and many more protesters as well as police are killed. Knights reputation is harmed. June 1892 Homestead Strike Carnegie steel workers protested new machinery that would cost them jobs Carnegie hired Pinkertons to violently end strike. Union lost strike. 1894 Pullman Strike
Date Conflict Causes Outcome May 1886 June 1892 1894 Haymarket Riot Workers gather to protest the killing of two strikers by the police Riot breaks out and many more protesters as well as police are killed. Knights reputation is harmed. June 1892 Homestead Strike Carnegie steel workers protested new machinery that would cost them jobs Carnegie hired Pinkertons to violently end strike. Union lost strike. 1894 Pullman Strike Railroad workers protested wage cuts
Date Conflict Causes Outcome May 1886 June 1892 1894 Haymarket Riot Workers gather to protest the killing of two strikers by the police Riot breaks out and many more protesters as well as police are killed. Knights reputation is harmed. June 1892 Homestead Strike Carnegie steel workers protested new machinery that would cost them jobs Carnegie hired Pinkertons to violently end strike. Union lost strike. 1894 Pullman Strike Railroad workers protested wage cuts Gained nationwide support. Company broke strike because Federal Government sent in troops to end strike.