1. Warm Up – 9/27 Define the word “gilded”
Covered thinly with gold leaf or gold paint
Veneer
Gilded Age – term coined by Mark Twain that describes this age of progress and corruption
"What is the chief end of man?--to get rich. In what way?--dishonestly if we can; honestly if we must.“ - Mark Twain

2. Industrial capitalism
“Let it be.”
--The Beatles

3. Reasons for American industrialization
1. Immigration – increased labor supply, both domestic (migration from farms) and foreign (international immigrants)
2. Resources – lots of natural resources
3. Government – laissez-faire economics (hands-off) government policies that did not place restrictions on business
Negative: gave businesses special treatment
Positive: Leads to innovations in business

4. Owners (stockholders) have ownership (stock) in the company
Business innovations
Corporation - organization owned by many people but treated as a single entity
Owners (stockholders) have ownership (stock) in the company

5. Where do corporations come from?
The construction of the transcontinental railroads after the Civil War made mass distribution of goods possible.
Enabled people to buy goods that previously not available to them
Production increased to meet the demand
Business need capital (money) to increase production
Many corporations sell shares (stock) to the public
Buyers now own part of the company

6. Stock of Carnegie's us steel corporation issued to Jp morgan

7. Monopoly – a company that controls most (80%) or all of a market and limits competition by:
Vertical Integration - all levels of production owned by the same company from resource to final product
Ex: Own oil rigs, car manufacturers, car dealership
Horizontal Integration – merger of two similar companies
Ex: Own Toyota and Honda

8. Urbanization & Industrialization
led to:
Urbanization & Industrialization
Rise in a class of Industrial Capitalists
Carnegie (steel)
J.P. Morgan (finance)
Rockefeller (oil)

9. Robber barons or captains of industry?
Captains of Industry – positive term for business leaders whose business practices are seen to benefit the nation
Robber Barons – negative term for business leaders who are seen as exploiting their employees and using unfair business practice to gain large sums of wealth

10. Bill Gates: Robber Baron or Captain of Industry?
How did he acquire his wealth?
 entrepreneur of the personal computer revolution, former CEO of Microsoft
How did he treat his workers?
fine reputation with workers, however has been thought of having monopolistic techniques, some court cases have even ruled them unlawful
How did he spend his money?
 He has a mansion, owns some of Da Vinci’s work
How did he donate his money?
 Started the Bill and Melinda Gates Foundation, which is aimed at globally ending poverty and providing healthcare, and in America increasing education and access to technology
Robber baron or captain of industry?
 ???????

11. The Robber Barons of Today
“History repeats itself- the robber barons of the Middle Ages and the Robber Barons of Today”

12. WHAT DO YOU THINK?
With your partner use the class discussion and the information on the back of your notes to:
Determine if you think men like Rockefeller, Duke, and Morgan were “Robber Barons” or “Captains of Industry”
Create a poster/political cartoon that reflects your beliefs
Must have pictures, color, and text

14. Answer: Answer the question. What is the prompt asking you?
How does the central issue in the Citizens United case relate to the idea of big business and capitalism?
Answer: Answer the question. What is the prompt asking you?
Cite: List a piece of textual evidence (a line from the text) that supports your answer.
Explain: Explain how your evidence supports your answer.
Significance: State why your answer, evidence, and explanation is important and why this question is overall important.