1. Warm Up #12
Indicate whether you agree or disagree with the following statements:
A) The purpose of business is to create wealth for those in charge.
B) Businesses have a responsibility to provide a safe and healthy working environment for their employees.
C) Businesses should pay their employees enough money to live off of.
Which statement do you agree/disagree with MOST STRONGLY? Explain your answer.

2. LN 4.1 The Rise of Big Business
Main Idea: After the Civil War, business continued to grow and the U.S. experienced an
_____________________________
Industrial Revolution

3. I. Causes Inventions 1. new ideas led to increased ____________
2. the ____________ Process led to better
steel. Pioneered by _____________
3. Thomas ____________ invented the light
bulb. Now work during __________
Government help
1. growth in ______________, tax on imports
2. _______________ policy meant that
government would not regulate business
productivity
Bessemer
Andrew Carnegie
Edison
night
protective tariff
Laissez Faire

5. 1. businesses formed ________________,
Strategies
1. businesses formed ________________,
when one company dominates an industry
2. ____________ integration is a monopoly
when one company takes over __________
3. ____________ integration is a monopoly
when one company owns all the steps of
________________
4. a __________ is when several businesses
work together instead of competing
monopolies
Horizontal
competitors
Vertical
production
trust
***Advantages of trusts and monopolies (for the business): can set very high prices AND pay lower wages

7. II. Captains of Industry
John D. Rockefeller
1. created the _________________ company. He owned _______% of the oil industry
Andrew Carnegie
1. showed the possibility of “_______________”
2. dominated the _________ industry
3. wrote the ____________________, said that
wealthy should do _______________ use
their money for positive good
Standard Oil 90
rags to riches
steel
Gospel of Wealth
philanthropy

9. III. Robber Barons immigrants low unsafe violence unions Gilded Age
Workers
1. Relied heavily on new _____________
2. very _______ wages and _________
conditions
3. Used ___________ to prevent workers from
forming __________ and going on strike
Control over government
1. during _____________ businessmen had
influence over politicians
Social Darwinism
1. justified riches by the idea of _____________
____________, that the best rise to the top
immigrants
low
unsafe
violence
unions
Gilded Age
“survival of
the fittest”

11. How should we view the businessmen of the 1890s- as Robber Barons or Captains of Industry?
Read the descriptions and decide where on the RB-CI spectrum each person should fall.