1. The Growth of Big Business and Technological Innovations after Reconstruction

2. SSUSH11 The student will describe the economic, social, and geographic impact of the growth of big business and technological innovations after Reconstruction.

3. Essential Question What effect did Industrialization have on Westward Expansion, economic growth and immigration?

4. Causes of Rapid Industrialization 1.Steam Revolution of the 1830s-1850s. 2.The Railroad fueled the growing US economy:  First big business in the US.  A magnet for financial investment.  The key to opening the West to mass emigration and economic development.  Aided the development of other industries. 1.Steam Revolution of the 1830s-1850s. 2.The Railroad fueled the growing US economy:  First big business in the US.  A magnet for financial investment.  The key to opening the West to mass emigration and economic development.  Aided the development of other industries.

5. Causes of Rapid Industrialization 3.Technological innovations.  Bessemer and open hearth process  Refrigerated cars  Edison o “Wizard of Menlo Park” o light bulb, phonograph, motion pictures. 3.Technological innovations.  Bessemer and open hearth process  Refrigerated cars  Edison o “Wizard of Menlo Park” o light bulb, phonograph, motion pictures.

6. Thomas Alva Edison “Wizard of Menlo Park”

7. The Light Bulb 1879

8. The Phonograph (1877)

9. The Ediphone or Dictaphone

10. The Motion Picture Camera

11. Alexander Graham Bell Telephone (1876)

12. Alternate Current George Westinghouse 1885

13. 1.Unskilled & semi-skilled labor in abundance. 2.Abundant capital. entrepreneurs 3.New, talented group of businessmen [entrepreneurs] and advisors. 4.Market growing as US population increased. 5.Government willing to help at all levels to stimulate economic growth. 6.Abundant natural resources. 1.Unskilled & semi-skilled labor in abundance. 2.Abundant capital. entrepreneurs 3.New, talented group of businessmen [entrepreneurs] and advisors. 4.Market growing as US population increased. 5.Government willing to help at all levels to stimulate economic growth. 6.Abundant natural resources. Causes of Rapid Industrialization

14. New Business Culture 1. Laissez Faire 1. Laissez Faire  the ideology of the Industrial Age.  Individualism as a moral and economic ideal.  Individuals should compete freely in the marketplace.  The market was not man-made or invented.  No room for government in the market!  Individualism as a moral and economic ideal.  Individuals should compete freely in the marketplace.  The market was not man-made or invented.  No room for government in the market!

15. 2. Social Darwinism × British economist. × Advocate of laissez-faire. × Adapted Darwin’s ideas from the “Origin of Species” to humans. × Notion of “Survival of the Fittest.” × British economist. × Advocate of laissez-faire. × Adapted Darwin’s ideas from the “Origin of Species” to humans. × Notion of “Survival of the Fittest.” Herbert Spencer

16. 3. Social Darwinism in America William Graham Sumner Folkways (1906) $Individuals must have absolute freedom to struggle, succeed or fail. $Therefore, state intervention to reward society and the economy is futile! $Individuals must have absolute freedom to struggle, succeed or fail. $Therefore, state intervention to reward society and the economy is futile!

17. New Business Culture: “The American Dream?” 4. Protestant (Puritan) “Work Ethic”  Horatio Alger [100+ novels] 4. Protestant (Puritan) “Work Ethic”  Horatio Alger [100+ novels] Is the idea of the “self-made man” a MYTH??

18. New Type of Business Entities John D. Rockefeller  Standard Oil Co. 1870

19. Standard Oil Co.

20. New Type of Business Entities Andrew Carnegie U. S. Steel 1889

21. Iron & Steel Production

22. New Financial Businessman The Broker:  J. Pierpont Morgan The Broker:  J. Pierpont Morgan 1880’s

23. Wall Street – 1867 & 1900

24. % of Billionaires in 1900

25. % of Billionaires in 1918

26. The Protectors of Our Industries

27. The ‘Bosses’ of the Senate

28. Cornelius [“Commodore”] Vanderbilt Can’t I do what I want with my money?

29. William Vanderbilt $ The public be damned! $ What do I care about the law? H’aint I got the power? $ The public be damned! $ What do I care about the law? H’aint I got the power?

30. 1867

31. The Gospel of Wealth: Religion in the Era of Industrialization Russell H. Conwell $ Wealth no longer looked upon as bad. $ Viewed as a sign of God’s approval. $ Christian duty to accumulate wealth. $ Wealth should be used to help society $ Wealth no longer looked upon as bad. $ Viewed as a sign of God’s approval. $ Christian duty to accumulate wealth. $ Wealth should be used to help society 1910

32. Has your opinion changed? What affect did Industrialization have on Westward Expansion, economic growth and immigration?

33. What about the American Worker? What rights did the American worker have? How could the American worker obtain better working conditions and pay? Why did big business fear unions? Why were anarchy and labor unions linked together?