1. THE GILDED AGE
BIG BUSINESS

2. WHAT IS THE GILDED AGE? LATE NINETEENTH CENTURY
SPREAD OF RAILROAD LINES
MOVING TO INDUSTRIALIZED CITIES
LABOR UNIONS
POLITICAL CORRPUPTNESS

3. INDUSTRIALIZATION MOVEMENT FROM RURAL (FARMS) TO URBAN (CITIES)
LARGE SCALE MANUFACTURING

4. CAUSES OF INDUSTRIALIZATION
A LOT OF NATURAL RESOURCES
NEW MANUFACTURING METHODS
IMPROVED TRANSPORTATION

5. RESULTS OF INDUSTRIALIZATION
GROWTH OF CITIES
INCREASED TRADE
ENORMOUS FORTUNE

6. WHERE WERE PEOPLE MOVING DURING THE GILDED AGE?
This image illustrates the change from –
A direct democracy to a representative one
A foreign policy of isolationism to interventionism
A slave owning society to one without slavery
A rural society moving to an urban society
WHERE WERE PEOPLE MOVING DURING THE GILDED AGE?
WHAT CAN YOU SEE IN THIS PICTURE?
WHY DO YOU PEOPLE MOVED TO THESE AREAS?

7. MORE EFFICIENT WAY OF PRODUCING STEEL
INVENTIONS
BESSEMER PROCESS
ELECTRICITY
TELEPHONE
MORE EFFICIENT WAY OF PRODUCING STEEL
THOMAS EDISON
BUSINESSES COULD STAY OPEN LONGER
MAKE MORE PRODUCTS
ALEXANDER GRAHAM BELL
COULD COMMUICATE ACROSS A DISTANCE

8. MONOPOLY – BIG BUSINESS
PHILANTROPHIST – GIVING MONEY TO CHARITY
CAPTAINS OF INDUSTRY – BUSINESS LEADER
ROBBER BARON – EXPLOITED RESOURCES TO BE RICH
KEY VOCABULARY
KEY VOCABULARY

9. BIG BUSINESS OWNERS ANDREW CARNEGIE JOHN D. ROCKEFELLER J.P. MORGAN
OWNED STEEL INDUSTRY
JOHN D. ROCKEFELLER
OWNED STANDARD OIL COMPANY
J.P. MORGAN
SUCCESSFUL BANKER

10. ANDREW CARNEGIE FOUNDED CARNEGIE STEEL
PHILANTHROPIST (GAVE MONEY TO CHAIRTY)
PAID WORKERS LOW WAGES
“PROVIDE LADDERS UPON WHICH THE ASPIRING CAN RISE”

11. GOSPEL OF WEALTH GIVE MONEY IN A WAY THAT BENEFITS OTHERS
DECIDE WHAT KIND OF HELP POOR PEOPLE NEED
USE WEALTH FOR THE GREATER GOOD OF SOCIETY

12. JOHN D. ROCKEFELLER STANDARD OIL COMPANY
HAD A MONOPOLY OVER THE PRODUCT
FORCED RAILROAD COMPANIES TO GIVE HIM SPECIAL RATES
CHARGED COMPETITORS HIGHER PRICES

13. “LAISSEZ-FAIRE” BUSINESS
FRENCH FOR “HANDS OFF”
GOVERNMENT SHOULD NOT INTERFERE IN FREE MARKET
ECONOMY WORKED BETTER WITHOUT GOVERNMENT INTERFERENCE
GREAT FOR BUSINESS OWNERS
“LAISSEZ-FAIRE” BUSINESS

14. SOCIAL DARWINISM
TOOK CHARLES DARWIN’S THEORY OF “SURVIVAL OF THE FITTEST”
APPLIED IT TO PEOPLE
IF YOU WERE POOR.. IT’S YOUR FAULT
ONLY THE RICH WILL SURVIVE

15. ROBBER BARON CAPTAIN OF INDUSTRY EXPANDS MARKETS CREATES MORE JOBS
FUNDS NATION’S PUBLIC INSTITUTIONS
PRACTICES PHILANTHROPY (CHARITABLE)
DRAINS COUNTRY OF RESOURCES
CORRUPTS PUBLIC OFFICIALS
PAYS POOR WAGES
WORKERS WORK IN DANGEROUS CONDITIONS

16. POLITICAL CORRUPTION PROVIDING SPECIAL PRIVLEDGE OFFERING BRIBES
INDUSTRIES USED CONNECTIONS WITH CORRUPT GOVERNMENT OFFICIALS

17. MONOPOLIES
DURING THE GILDED AGE THERE WAS AN INCREASE IN SUPPORT FOR BIG BUSINESS

18. TODAY’S RECAP

19. BESSEMER PROCESS PRODUCED…
MOVING FROM RURAL TO…
URBAN
COUNTRYSIDE
FARM
WHAT IS RURAL?
WHAT IS URBAN?
CITY
STEEL
BESSEMER PROCESS PRODUCED…
LIGHT BULB CREATED BY..
THOMAS EDISON

20. WHAT COULD BUSINESSES DO? ANOTHER NAME FOR BIG BUSINESS?
STAY OPEN LONGER
MONOPOLY
ANOTHER NAME FOR BIG BUSINESS?
PHILANTHROPIST
MONEY TO CHARITY
CARNEGIE STEEL
ANDREW CARNEGIE
JOHN D. ROCKEFELLER
STANDARD OIL

21. SPECIAL PRIVLEDGE/BRIBES INCREASE IN SUPPORT FOR..
J.P. MORGAN
BANKING
HANDS OFF
“LAISSEZ FAIRE”
SOCIAL DARWINISM
ONLY RICH SURVIVE
POLITICAL CORRUPTION
SPECIAL PRIVLEDGE/BRIBES
INCREASE IN SUPPORT FOR..
BIG BUSINESS