1. New Inventions
Create the chart on page 413 #2 in your notes. Be sure to include the inventor

2. Silent Read minutes
Read, “One American’s Story” on page How does Carnegie’s story lend itself to the “American Dream”

3. III. Captains of Industry
Carnegie steel
Vanderbilt railroads
Rockefeller oil refineries
J.P. Morgan banking

4. What is the artist trying to say?

5. What is a “robber baron”?*
Individuals who achieved almost total control of their industry (monopoly)
Gained power through un-ethical means
Used their financial power to gain political power
Film Clip

6. JP Morgan* Began his career in banking
Bought out large portions of industry and made them more efficient and eliminate competition
Paid off politicians
Became one of the richest men in the word by the 1900s

7. Cornelius Vanderbilt*
Began business in the steam-boat industry
Profited from railroad industry and monopolized most of it
Known to give politicians free railroad vouchers

8. John D. Rockefeller* Pioneered the oil industry with Standard Oil
Many drills destroyed the environment around it
Destroyed competition by buying them out and controlling distributors
Had favorable rates in transportation

9. Andrew Carnegie* Poster boy for “rags to riches story”
Considered the greatest capitalist of all time
Monopolized steel industry and fired workers when they didn’t produce enough
Dedicated life to philanthropy after retiring

10. Government Support* Laissez Faire Government- “let do”
Government Corruption
Any halt in growth hurts economy

11. But hey!? What about you? While they’re making millions, what happened to you?

12. What is fair? Equality of Opportunity Equality of Outcome
What would be a fair way to set-up my grading system?

13. Capitalism
A system in which private citizens own most, if not all, of the means of production and decide how to use them within legislated limits
1/1/2019
7 Market System

14. The Robber Barons Perspective*
$$$ is the number 1 objective
Faster/constant production makes $$$
Social Darwinism
Poor deserve to be poor
Rich deserve to be rich
They have the opportunity

15. Laissez-Faire Literally means “let do”
Implies, “let it be” or “leave it alone”
Free from government intervention
1/1/2019
7 Market System

16. Explain the meaning of Rockefeller’s quote within the context of Social Darwinism. (p422)

17. Horizontal vs Vertical

18. So what did you do? What power do YOU have as the laborer?

19. You UNITED!

20. Power in Numbers*
Union- a group of workers (usually from the same profession) that unite to be negotiated with by management
Strike- a group of workers who refuse to work in order to enforce change

21. Things they fought for*
Better working conditions
Safety
Fire Escapes
Better treatment from supervisors
Better hours
Before hours
Wanted- 8 hours
Better wages
Some paid as low as 10 cents /hr
Money, not scripts

22. How do you think the business owner responded?

24. Chicago 1888 (Haymarket Riot)*
8,000 workers went on strike
8 hour work days
Result – several workers killed by police
Reaction – rally to protest killing, bomb thrown at policemen at the scene

25. 1892 Carnegie’s Homestead Steel Plant Strike*
Began because of surprise wage cut
Managers hires 300 guards to protect against workers
16 guards and workers dead
PA national guard sent in to help….MANAGEMENT
Workers hired back with half pay