1. ** Capitalism
Vs.
** Democracy
Handout Questions - What is capitalism? - Capitalism and Inequality? - “Dueling manifestos” paragraph: How are capitalism and democracy antagonistic? - Harness “armies of men and women” paragraph: Why did they hate “Morgan and his ilk?”

2. Development of Modern America

3. Important Concepts - Capitalism - Entrepreneurs
- An economic system in which private individuals … 
- Entrepreneurs
- People who risk … 
- Laissez-faire policies
- French phrase, “Let people do as they choose” … 

4. *In response to a video clip, “The Men Who Built America 2 of 8 Oil Strike” about John D. Rockefeller” answer accompanying worksheet …
Rockefeller Video -
** Entrepreneur …
** Laissez-faire …
** Capitalism …
** Monopoly …

5. “Factory Belt,” now “Rust Belt”

6. How were these men successful?
Generalizations?

7. Captains of Industry John D. Rockefeller
How were these men successful?
(1839 – 1937)
“Job Day” – Sept. 26, 1855
1859 – America’s first oil well was drilled in Titusville, Pennsylvania
1866 – “train crash” & later meeting w/ Vanderbilt
1870 – founds Standard Oil
1872 – “the Cleveland Massacre” – take-over to “control” 90% of oil refinery business
1882 – reorganized under the “Standard Oil Trust”
John D. Rockefeller

8. Captains of Industry Cornelius Vanderbilt
How were these men successful?
(1794 – 1877)
1817 – ferry boat captain
1820’s – goes into business on his own
1850’s – supports the California Gold Rush
1860’s – shifts focus to railroad industry
1869 – “Horizontal Integration” … forms “New York Central”
1871 – builds New York’s Grand Central Terminal
1873 – extends control of railway routes connecting New York City to Chicago
Cornelius Vanderbilt

9. Captains of Industry Andrew Carnegie How were these men successful?
(1835 – 1919)
1847 – works as a “bobbin boy” then as a telegraph operator
1849 – “secretary” to Thomas Scott
1859 – division superintendent
1865 – “Vertical Integration” … begins telegraph company & iron bridge building company
1870 – begins first steel factory, near Pittsburgh (Homestead, PA)
1870’s – 1890’s – enters the steel business & becomes the dominant force in the industry
1875 – “How?” begins “Bessemer Process” in U.S.
1901 – sells Carnegie Steel to J.P. Morgan
Andrew Carnegie

10. *In response to a video clip, “The Men Who Built America 2 of 8 Oil Strike” about John D. Rockefeller” answer accompanying worksheet …
Rockefeller Video -
** Entrepreneur …
** Laissez-faire …
** Capitalism …
** Monopoly …