1. Have out dialogue homework to hand in. Notes in notebook
Agenda:
Have out dialogue homework to hand in.
Notes in notebook
Homework in notebook:
Acrostic poem
INDUSTRIALIZATION
“Z”-zoned for business

2. 9/23 Captains of Industry

3. MonOpolies…like the game?
It’s just like winning the game!
One company or small group that has TOTAL control over one part of business

4. It’s all about trusts! Trust:
A group of corporations that unite to reduce competition and control prices in a business
Many believed that trusts threatened American economic and political freedoms
Wealthy business owners who were part of trusts used their enormous wealth to buy elections and corrupt public officials.

5. Political machines
Political bosses do favors and then people vote how they are told
Quid-pro-quo (something for something)
Robber barons:
Wealthy businessmen who used corrupt practices to get ahead

6. Political Corruption
Corruption common and state and local levels of government
Boss Tweed ran the Tammany Hall political machine in New York City

7. Captains of industry
Andrew Carnegie
John D. Rockefeller
J.P. Morgan

8. Andrew Carnegie Vertical integration
When one company is responsible for every part of the production of an item from beginning to end (raw material to finished product)
Example:
Carnegie Steel Co.
owned iron ore mines and paid workers to mine
owned railroad companies for shipping iron ore to factories
owned the factories that turned the iron ore into steel
Andrew Carnegie

9. Horizontal integration
When one company owns all the businesses in a field
Example:
Standard Oil
Bought out all other oil companies so Standard Oil owned the market
John Rockefeller

10. Captains as philanthropists
someone who uses their wealth for the benefit of the less fortunate
Rockefeller Center
Carnegie Hall