1. American Industrialization (The Bad)
Monopolies and Work Conditions United States History
Mr. Chrestensen

2. Analyze the cartoon:
The men’s shirts in back read “trusts”. Cartoon name, Bosses of the Senate

3. Industrial giants Andrew Carnegie Poor immigrant from Scotland
Built steel plant in Pennsylvania
Used the Bessemer process
Vertical integration

4. Industrial Giants John D. Rockefeller
Ultimately, controlled 90% of the oil industry
Standard Oil Co.
“If you can’t beat ‘em, join ‘em!”
Horizontal via trust agreements
Not legal mergers

5. Industrial Giants JP Morgan “House of Morgan”
Dominates the banking industry
Stocks and loans
Cornelius Vanderbilt
Swept up the RR industry

6. Why the “Gilded Age”?
-”Because the open display of wealth among American elite seemed like a cheap picture frame- golden on the outside, but rotting on the inside.”
-Mark Twain
Discussion: What would you do if you had enormous wealth?
Carnegie’s Gospel of Wealth :sign of divine approval, yet, must be a “trustee for his poorer brethren”.

7. Social Darwinism
Philosophers came up with this from Charles Darwin’s theory of “natural selection”
Economists use to justify laissez faire
4000 new millionaires, others lazy or weak!

8. Fewer control more Buying out competitors: monopoly
Combining competing company’s into huge businesses: trusts
Decisions in the hand of “trustees”
Many used ruthless tactics
manipulation
Many paid low wages
Anything to make a buck!

10. Who were the “Robber Barons”?

11. The Sherman Antitrust Act
1890
Made it illegal to form a trust that interfered with free trade
Difficult to prosecute

12. Corruption in business and government
Hippocampus lesson

13. How most people lived
The middle class slowly grew, but most Americans poor
1% (wealthy), had more wealth than other 99% (poor) combined!
Candlepower, no plumbing, wood stoves, crammed tenement housing

14. Tenement housing, NYC

15. NYC: A modern city full of pluses and minuses…

16. The Story of Us DVD
DVD: “Cities” Skyscrapers (19-24)

17. How most people worked
“Breaker Boys” and “Mill Kids”: Child Labor

18. How most people worked
You had no rights!
A factory and a steel mill.

19. The rights of laborers
Hippocampus link

20. Positives and Negatives of Big Business