Was the rise of industry good for the U.S?

Was the rise of industry good for the U.S?

Create an invention or innovation that will make school easier for you. Explain how this invention works and why it would help you

Preview

An innovation or invention that would make school easier would be a…….

Writing prompt

A period of time between 1840 and 1920 in which goods were made by machine

Industrialization

What factors gave rise to industrialism in America?

Model T Increased production

Cheaper products

Higher profits

Henry Ford’s Assembly Line

GroupsAdvantages of the Assembly Line

Disadvantages of the Assembly Line

Factory Owners

Factory Workers

Consumers

GroupsAdvantages of the Assembly Line

Disadvantages of the Assembly Line

Factory Owners Profits

High Costs

Factory Workers

Jobs with pay Dangerous conditionsLow payLong hours

Consumers

cheaper goodsLarge supply

Inferior quality compared to hand made goods

What factors gave rise to industrialism in America?

Gives inventor sole legal right to make or sell an invention

Patents

1. What happened to the number of patents issued between 1845 and 1900?

2. What does this chart tell us about what was happening in America in terms of innovation and invention?

Innovations and inventions of the industrial era

Edison Electric Light Company

PhonographMovie maker

Thomas Edison

Bell Telephone Company

Alexander Graham Bell

Edwin Drake lubrication for machinery

gas for cars

Rock Oil

Elias HoweIncreased garment production

Sewing Machine

Transcontinental Railroad

Andrew Carnegie

Faster, cheaper way to produce steel

Stronger bridges, taller buildings, jobs

Bessemer Process and Steel

1. What happened to the number of non-agricultural workers

between 1870 and 1920?

2. What factors may have contributed to the rise in industrial or factory workers during this time?

1. What happened to the total number of exports between 1850 and 1905?

2. What factors might have contributed to the rise in production of goods to other countries?

What factors gave rise to industrialism in America?

New business methods and philosophies

Entrepreneurs

Businesses are privately owned rather than being controlled by the government

Capitalism

Provide funds to build railroads, factories

Put money into new inventions and scientific research

Capitalists

Large companies that rely on stock holders to provide capital

In return, stock holders receive a piece of ownership in the form of stock certificates, voting power, dividends

Corporations

A single corporation that dominates industry by eliminating competition

Monopolies

Competing companies join together to crush competitors

By 1904, 319 trusts swallowed 5,000 smaller businesses.

Trusts

Building a monopoly by buying out competitiors

Horizontal Integration

Building a monopoly by buying out suppliers.

Carnegie bought coal mines and railroads to help his steel co.

Vertical Integration

Sherman Anti-Trust Act (1890)

law was not enforced initially

Government’s role in Business

Government should not interfere in business

Limit regulation and oversight

Laissez Faire Policies

Politicians took bribes and passed laws that favored big business over workers

Corruption

Taxes on foreign goods

Protect American businesses

Encourage the purchase of American made goods by making (imports) more expensive

Tarrifs

Gave railroads millions of dollars worth of land

Sold natural resources such as forests and minerals at very low prices

Government’s role in business

Discouraged government regulation of business

Best run businesses would survive and prosper

Gov’t should leave business alone to succeed or fail on their own

Social Darwinism

Were men like Rockefeller good for America?

Industrialists who gained wealth at the expense of the workers

Robber Barons

Industrialists lived “glittering” lives while the poor struggled Mark Twain

The Gilded Age

Philanthropist

Mark Zuckerberg

John D. Rockefeller

Standard Oil Richest Man in history

Scottish Immigrant

“Rags to Riches”

Pennsylvania Steel

Andrew Carnegie

BankerFinanced Alexander Bell, Edison

Railroad Owner

JP Morgan

Industrialist name Robber BaronsCaptain of Industry and philanthropist

John D. Rockefeller

Andrew Carnegie

J.P Morgan

“You can’t compete with (Rockefeller”…If you refuse to sell, you will end up being crushed”

“I believe the power to make money is a gift from God…to be developed and used to the best of our ability for the good of mankind”

-John D. Rockefeller

“rich people have a duty to improve mankind”

- Andrew Carnegie

“Carnegie believed it was contrary to the “laws of civilization” to pay workers more than the minimum they needed. To pay workers more than they needed was to “encourage the slothful, the drunken and unworthy.”

Well, I don’t know as I want a lawyer to tell me what I cannot do. I hire him to tell me

how to [get around the law so I can] do what I

want to do.

—J. P. Morgan, banking industrialist

Was industry good for America?

Was industry good for America?

Andrew Carnegie

John D. Rockefeller

IVAN IMMIGRANT

I.M FEDUP

NORMAN NATIVE

IndustrialismPros’ Con’s

new ideas and inventions

jobs for millions Improved standard of living for everyone

Destroyed small businesses

Kept wages low Destroyed natural resources and hurt environment

Government corruption