1. THESE ARE THE MEN WHO RESPONSIBLE FOR INDUSTRIALIZING AMERICA!
We are so stinking rich…I mean, STACKS and STACKS!
INDUSTRIALISTS
THESE ARE THE MEN WHO RESPONSIBLE FOR INDUSTRIALIZING AMERICA!

2. First of all… let’s think of how a business works…
A business starts with an entrepreneur….somebody who puts in the money and effort into creating a product.
Under a capitalist, free market economy, anyone has the right to start any company… laissez faire capitalism is when there is NO government regulation!
When you want to expand your business, you need money, or capital and sometimes capital is raised through the creation of corporations
Forming a corporation means: you are promising a portion of your profits to the people who bough “shares” in your company…
The following men formed corporations with their companies and made a lot of people a lot of MONEY!!!!

3. Monopolies
A monopoly is when one corporation has the exclusive control of the supply or trade in a good or service
SnowBiz is a monopoly because they exclusively sell snow cones in Terry. Nobody else does. Just them….
Monopolies can be created in many different ways…

4. Andrew Carnegie Steel Production Philanthropist- charitable giver
Gospel of Wealth
Social Darwinism- based on Darwin’s theory of evolution, said the fittest would survive (socially, businesses, etc…)
Believed the world NEEDED rich people, but rich people need to return the favor by helping those less fortunate

5. Let’s say I own McDonald’s
Vertical Integration
Combination within one company two or more stages of production of a good or service
I would need to own…
Let’s say I own McDonald’s
The Bakery
The meat processing plant
The lettuce farm
The dairy farm
The pickle plant
To create
Vertical
Integration

6. Carnegie Wealth

8. John D. Rockefeller Standard Oil Company
Set out to gain control of the entire industry
Forced smaller companies to sell out so he could buy them up
Horizontal Integration
Ruthless businessman
Philanthropist

9. Horizontal Integration (Monopoly)
This happens when a corporation increases their production of goods or services by owning or controlling similar industries
To create
Horizontal
Integration
Let’s say I own McDonald’s
I would need to own…

10. Kykuit 6 stories Underground art gallery and ice cream parlor 40 rooms
Has telephone/telegrap h and even central vacuuming!
$30 to tour today!

11. George Westinghouse Trains and electric Westinghouse Air Brake Company
He also developed the AC current plugs (alternating plugs)

12. Cornelius Vanderbilt Railroads Invested in various railroad lines
Controlled all railway travel from New York and Ohio
That’s 4500 miles of track!
He would buy up smaller railroad lines
Died with $100 Million

13. George Pullman Train cars… Pullman Car
He made comfortable railroad cars like sleeping cars and dining cars
Built a town just for his employees to live in

14. Good Guys or Bad? Captains of Industry Robber Barons
Made money honestly, paid fair wages, gave money to the poor, built museums, libraries and universities
Stole from the public, bribed public officials to pass laws, paid workers low wages, forced workers to work in poor conditions

15. Two Questions to ponder…
If you worked all of your life, a rags to riches story, should you feel obligated to give away your money?
In an age where the average salary was $500 a year, was it wrong for the rich to spend thousands in one night for entertainment/party?