1. Bellringer
Get out a piece of paper for a brainstorm.

2. Agenda BR
Review
Brainstorm
Industrialism
GAME TIME!

3. Brainstorm!
With a partner or two, Brainstorm (based off of your previous knowledge and the video) the following:
What is an entrepreneur?
Who is an entrepreneur? least 2)
What are some characteristics? least 3)

4. The Gilded Age Define Gilded age: Gilded means= a thin layer of gold
So the Gilded Age means this is an era that really is not pretty- there are lots of problems but the surface of America looks shiny because there are so many new inventions/riches/technology

5. New Word Define Gilded Age:
It was a term given to America in the late 1800s-early 1900s. Gilded means a thin layer/covered in gold. The surface of America was shiny and looked good. However, under that thin layer, there were lots of problems: corruption, poverty, diseases, etc. (think gold ring)

6. Bellringer
Define the word gilded AND explain how the term Gilded Age fits this era (1880s-1900s)

7. Bellringer
Define entrepreneur, list the #1 most important quality an entrepreneur must have and 2 examples of who one is.
An entrepreneur is an innovator- a person who invents/creates and starts their own business. They want to solve a problem- make life better.
Entrepreneurs are risk takers, they are persistent, optimistic, hard worker, intelligent, and have a plan.
Ford, Carnegie, Rockefeller, Oprah, Gates, Jobs, Tom, and Walton are examples of entrepreneurs.

8. BR
Study for map test

9. Bellringer
What is industrialism? What was the time frame this occurred?
*Get out your homework- 2 column notes*
*Put your book back if you haven’t yet- and cross your name off the list*
*MAP TEST TODAY!!*

10. Agenda BR
Review
Map test
Industrialism
Game time

11. Industrialism in America
Growth of Big Business in the Late 19th Century

12. So what is it?
Industrialism = modernizing- basing our economy off of factories and manufacturing rather than agriculture
Our nation was industrializing during this time period 1880s-1900s- lots of growth
Causes?
1. Lots of natural resources to use (coal, lumber, oil)
2. Lots of immigrants from Europe that we could use as a work force
3. Government was LAISSEZ FAIRE letting businesses grow and have lots of power

13. New Technologies
Light bulbs, phonographs, electricity, railroads, telegraph, telephone, streetlights, trolleys, skyscrapers, elevators, subways, sewers, underground pipes
Made life easier and cheaper to communicate and travel
YAY ELECTRICITY!

14. Thank you Edison! So I don’t have to look like this!
Thomas Alva Edison created the light bulb and phonograph
Which led to electric companies forming

15. Impact of Industrialism
Cheaper and easier to move around, communicate, make goods
Increase in standard of living
Growth of cities (up and out)
Mass consumerism- people buying ready made stuff instead of making it

16. Bellringer
What was the role of the government during the Gilded Age? (think hand gesture)

17. Agenda BR
Review
Grades
Industrialism

18. Rise of Big Business
Before the Civil War, most businesses were small (mom and pop), but by the 1900s most were large CORPORATIONS or big businesses

19. Man of Steel
Carnegie invested in and became a tycoon in the steel industry. **Carnegie = steel. His company was called the Carnegie Steel Company and later became US Steel

20. Rockefeller
Rockefeller invested in and reshaped the oil industry. **Rockefeller = oil. His company was called Standard Oil.**
He got huge discounts from the railroads since he shipped so much, so he was able to keep his prices low.

21. Robber What? Define robber baron in normal English:
A robber baron is a businessman who used ruthless tactics to get ahead
What are some tactics a robber baron uses?
Robber barons used low wages, no healthcare, long hours, and child labor. They did this to lower their cost of production so they could wipe out competition.

22. Captains of Industry
These big business men were also seen as Captains of Industry
Increases productivity, create jobs, gives back
Philanthropist = someone who donates/gives back

23. Giving and Taking
Both Rockefeller and Carnegie, after they retired, donated a lot of money to public foundations. While some called them robber barons, they were also philanthropists.
Carnegie and Rockefeller justify their donations over raising wages of employees because they said…
Wages were wasteful and temporary while donations lasted longer- bigger impact.

25. Collect $200! Define trust and it’s impact in normal English:
A trust (or merger) is a bunch of companies that combine which reduces competition.
Basically it’s a really big business or corporation
It could eventually become a monopoly…

26. Monopoly
Mono = one
When one group/business/individual controls a whole industry
They eliminate all competition and control supply and price

27. Side to Side
A horizontal merger is when businesses in the same industry all merge and form a monopoly.
Rockefeller used horizontal merging because he bought up all of his competition in the oil industry.
He was able to control the price of the product.

28. Up and Down
A vertical merger is when businesses buy up all the materials they need to make their product.
Carnegie used vertical merging because he bought up all of the industries needed to make steel (coal, iron, steel, ships, railroads).
You control all steps of production and price.

29. Adapt or Die
Because there was a huge gap between the rich and the poor, a theory called social Darwinism became popular.

30. Survival Of The Fittest
Explain: Survival of the fittest- men evolved from apes, most fit= most successful- do what it takes to be the best. Weak die off- don’t have skills.

31. Government’s Role
Darwin believed that the government SHOULD NOT get involved in the economy in order for the strong to distinguish themselves from the weak (LAISSEZ-FAIRE = HANDS OFF)

32. Farmers Rejoice!
While the government was LAISSEZ FAIRE, they did create the Interstate Commerce Commission to REGULATE the RAILROADS so that they couldn’t charge ridiculous rates to farmers

33. Time to act it out!

34. Bellringer
Define robber baron. What theory did robber barons use to justify their actions? What did they think the role of the government should be?
Robber barons were big businessmen who used unethical tactics to get ahead and eliminate competition.
Robber barons believed in social Darwinism- survival of the fittest- do whatever it takes to be the best
They believed that the role of the government should be hands off (laissez- faire) and that the gov’t should not get involved to help the weak

35. Bellringer
Explain Social Darwinism
*Map test today

36. Agenda BR
Review
Map test
New states
Immigration