Wednesday/Thursday, Sept. 17 & 18 Objective: We will analyze the impact of big business on America in the early 1900s. Agenda: Warm Up Monopolies and Growth of Industry Robber Barons and Captains of Industry What did you learn HW: Unit 1 Review Sheet due 9/23 Unit 1 Test on Tuesday 9/23

Warm Up Orange Desk: Clean Up Pink Desk: Gather Materials Yellow Desk: Get Handouts Green Desk: Recorder 1. List the 4 nationalities that migrated to the US during the 1870s-1900s to work. 2.Why did most Asian Immigrants settle out in the West? 3.Why were Chinese immigrants discriminated against and treated poorly? 4.Like automobiles, which businesses grew due to the expansion of railroads?

LARGE AMERICAN COMPANIES

The Creation of Monopolies A monopoly is when on company owns/controls an entire market or industry. This allows that company to control the prices of their product. The laissez-faire government of the 1870s- 1900s allowed big bussiness to thrive and control the market place.

Why did big Business Grow? Availability of a work force (immigrants) National Markets created by transportation. Lower cost of production. Inventions. Advertising. Financial resources. Access to raw materials and energy sources. Lack of Government regulation.

Social Darwinism “Only the strong survive” “Survival of the fittest” Businesses and companies that are strong and powerful will continue on to be successful. Companies that cannot keep up with modern technology, innovation, production or competition will “die off”. "The law of competition may be sometimes hard for the individual, [but] it is best for the race, because it insures the survival of the fittest in every department.“ -Andrew Carnigie

Robber Barons vs. Captains of Industry Robber Barons: A ruthlessly powerful U.S. capitalist or industrialist of the late 19th century considered to have become wealthy by exploiting natural resources, corrupting legislators, or other unethical means. Captains of Industry

Cornelius (Commodore) Vanderbilt American industrialist and philanthropist who built his wealth in shipping and railroads. Sold old repaired ships to both the Union and Confederate armies in the Civil War. Bought out smaller railroad companies and eventually had a “monopoly” on the railroad industry owning 2/3 of all railroad tracks. Created the “trust” system where many companies are managed by a board of wealthy business leaders (such as himself). Vanderbilt

Andrew Carnegie Led the enormous expansion of the American steel industry in the late 19th century. He used his connections to acquire contracts for his Keystone Bridge Company and the rails produced by his ironworks company. Essentually monopolizing the steel industry. Although he made millions, he never raised wages or improved working condition in his factories. At his death, he had already given away $350,695,653 to charity. Carnegie

John D. Rockefeller He was the founder of the Standard Oil Company, which dominated the oil industry and was the first great U.S. business “trustee”. Bought out and “muscled” out his competitors. Refined oil to light lamps, then later fueled cars and trains. At the peak of his career he owned 90% of all the oil in the United States. Rockefelller

Henry Ford Ford was the first to mass- produce affordable cars to the American public. Gave thousands of jobs to the American public. Produced 15 cars a day. Was able to create his own model of cars by winning a race against other race drivers. Ford

Green Desk- Cartoon 2 Yellow Desk- Cartoon 3 Orange Desk- Cartoon 4 Pink Desk- Cartoon 5

What Did You Learn In School? 1.Why did citizens flock to the new opportunities out west? 2.How did Technology impact the lives of those moving out west?