1. INDUSTRIALIZATION

2. Incredible Economic Expanson
Manufacturing: $3 Billion (1869) to $13 billion (1900)
Iron Ore Production grows 4x
GNP grows 3x
BIG BUSINESS emerges

3. The BIG QUESTIONS 1. What made this enormous growth possible?
2. How does the market respond?
3. What was the effect on People? (who wins, who loses?)

4. What is Paleotechnology?

5. What is Paleotechnology? (Exploitation of Fossil Fuels)

6. CoalSteel (Bessemer)

7. CoalSteel (Bessemer)Rails and Girders

8. CoalSteam

9. CoalSteamMechanization

10. CoalSteamMechanization TurbineElectricity

11. Oil and Communications

12. Foreign Investment Tariffs
Additional help….
Foreign Investment Tariffs

13. Changes to Manufacturing
Additional help….
Foreign Investment
Tariffs
Changes to Manufacturing
Economies of Scale and Scope
Division of Labor
Continuous Flow

14. How does Business implement these changes?

15. How does Business implement these changes? Rise of Middle Management

16. How does Business implement these changes
How does Business implement these changes? Rise of Middle Management Emergence of the CORPORATION

17. How does the Railroad Nurture Economic Expansion?

18. With new technologies and a new Business Model… How does the MARKET respond? (Question 2)

19. “Robber Barons”—Morgan, Rockefeller, Carnegie

20. John D. Rockefeller

21. The Four “C”s
- Competition

22. “Competition is a sin”
--John D. Rockefeller

23. Competition Cooperation
The Four “C”s
Competition
Cooperation

25. Competition Cooperation Consolidation (Horizontal)
The Four “C”s
Competition
Cooperation
Consolidation
(Horizontal)

28. “Let us Prey”

29. The Four “C”s Competition Cooperation Consolidation (Horizontal)
Centralization
(Vertical)

32. Market share

36. What Makes Big Business Something New?
Capital
Fixed Costs
Nature of Ownership

37. What was the effect on people? (Who wins? Who loses?)
(Question 3)

40. How do they justify the wealth?

41. What is Social Darwinism?