2. For many years people used oil found on the surface of oceans and lakes to use as kerosene for lighting lamps In 1859 Edwin L. Drake found oil by drilling into the ground This abundance of oil fueled the Second Industrial Revolution

3. In the 1850’s the Bessemer process made steel-making faster and cheaper. By 1910 the U.S was producing 24 million tons of steel Steel was used to make railroad locomotives and rails, bigger bridges, taller buildings, even nails and wire

4. With oil and cheap steel many big businesses prospered in the 1800’s Entrepreneur – a person who takes a risk in starting a business Capitalism – an economic system in which businesses are privately owned Laissez-faire – a French term meaning “leave alone”. This term describes the type of capitalism in which the government does not interfere with businesses

5. Social Darwinism was taken from scientist Charles Darwin’s ideas on evolution Darwin’s ideas Members of a species compete for survival Stronger members adapt to the environment and thrive Weaker ones gradually die out in a process called natural selection How can Darwin’s ideas apply to industry and business?

6. During this time the corporation emerges Corporation – a business with the legal status of an individual Owned by people who buy shares in the corporation A board of directors makes decisions and run the business The advantage to a corporation is that it is much easier to raise money to invest so that the corporation can grow Over time many corporations merged together to form trusts When a trust gained control over an entire industry a monopoly, meaning there was no competition

7. As businesses grew larger some corporate leaders amassed huge fortunes. This time period became known as the Gilded Age and the men were called robber barons, because they build their fortunes on the work of others. Facebook project

8. During the growth of trusts and corporations businesses cared little for their workers In 1890 Congress passed the Sherman Antitrust Act – made it illegal to form trusts that interfered with free trade. However, the act caused little change because the government did not enforce the law Workers endured 12 to 16 hour days, 6 day work weeks, and unhealthy conditions. In 1900 1 in 6 children aged 10-15 held a job outside the home.

9. In an attempt to improve working conditions workers organized to form unions. Unions often used strikes as a means of getting what they wanted The Great Railroad Strike (1877) – workers were protesting cuts in wages and were able to block the movement of trains in various parts of the country. Conflict between strikers and the military resulted in several deaths before the army finally ended the strike

10. Haymarket Riot (1886) – in Chicago workers gathered to protest police action taken against strikers. A member of the crowd threw a bomb causing panic. 11 people died and more than 100 were injured. The blame for this riot was placed on foreign unionists, and eight foreign born workers were put on trial and sentenced to death.

11. In 1886 a group of workers led by Samuel Gompers formed the American Federation of Labor (AFL) and won wage increases and shorter workweeks for many workers. In 1893 the Pullman Strike was led by Eugene V. Debs. Debs urged rail workers not to work on any trains that had Pullman cars because the Pullman company had laid off 1/3 of its workers. Eventually federal troops stepped in and the strike was ended.