Industrialization Fuels Growth Unit 2 Lesson 1. Objectives:  Review causes and effects of post Civil War Industrial Revolution.  Analyze impact of industrialization.

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Presentation transcript:

Industrialization Fuels Growth Unit 2 Lesson 1

Objectives:  Review causes and effects of post Civil War Industrial Revolution.  Analyze impact of industrialization.

Warm Up  What challenges faced post-Civil War America?  War destruction  One-sided government  Ruined economy  Changing social roles

Review  How does the US tackle these challenges?  Reconstruction  Settlement western lands  Railroads  Industrial Growth (4 min)

Westward Expansion  Factors :  War displaced farmers, slaves  Farmland in East $$$  Seek freedom from ethnic & religious tension  Federal Actions:  Gave away or sold land cheaply  RR grants  Morrill Land-Grant  Homestead Act  Impact :  Removal Natives  Force, assimilation, disease & lack resources  Increased Immigration  Cheap land, new jobs  Chinese, Germans, Irish, Italians  Exploitation of Land  Mining, (Cattle) Ranching, Farming  Development New Technologies…

Activity: Tech Development  Working in small groups, the students will use the laptops to identify the new tech developments of the time

Technological Development Invention/IdeaInventor/DeveloperBenefit(s) Oil well, drill, pump Edwin DrakeCheaper, efficiency Electric power & light bulb Thomas EdisonAffordable, widespread, productivity Telegraph Samuel MorseCommunications rev Telephone Alexander G BellLink ppl Bessemer process Henry BessemerEasier, cheaper, purer (stronger), mass produced steel Mechanical Reaper Cyrus McCormickLarger farm, less labor Steel Plow John DeereCultivate tough sod Barbed Wire Joseph GlidenContain cattle, save crops Key

Monopolizing Industry  New Market Structures :  Oligopoly (few, large firms)  Monopoly (complete control)  Trust (several co’s managed as one)  Sherman Anti-Trust Act  New Business Practices:  Vertical Integration – Carnegie Steel controls all aspects of production  Horizontal Integration – Standard Oil bought out all competitors  Management & Accounting  More Capital - CUT COSTS!  Social Darwinism  Govt stay out of business, allow “fit” to survive and get rich…everyone benefits

Big Business Booms!  RR- Vanderbilt, Gould, JJ Hill  Oil- Rockefeller  Steel- Carnegie  Aluminum- Mellon  Flour Mills- Pillsbury  Cigarettes- Duke  Meat - Armour  Investment Banking- JP Morgan (10 min) (10 min) DA3D406F-124E-4D B5A4EE2C7D&blnFromSearch=1&productcode=US

Impact of Industrial Growth?  Pro ( Captains of Industry)  Con (Robber Barons)

Closure  What does this growth of American industry have to do with our emergence as a world power?  Frontier closes  Industry soon needs new resources & new markets to sell its goods  Begin to look abroad

Homework Reading Journal 2.2 due tomorrow!!!