us history & government industrialization john jay hs

US HISTORY & GOVERNMENTINDUSTRIALIZATION

JOHN JAY HS

SIGN POSTING

WAS THE CIVIL WAR A TURNING POINT FOR INDUSTRIALIZATION?

WHY SHOULD WE BE CONCERNED ABOUT MONOPOLIES?

HOW DO VERTICAL & HORIZONTAL INTEGRATION DIFFER?

TURNING POINTS

ECONOMIC DEVELOPMENT

REFORM MOVEMENTS

TRANSPORTATION & COMMUNICATION

IMMIGRATION

WESTWARD EXPANSION

CIVIL WAR

OVERVIEW

WAR MOBILIZATION

VETERAN NETWORKS BUSINESS NETWORKSLOCAL NATIONAL FRATERNAL ORG’S; MUTUAL-AID SOCIETIES

OFFICER CORPS CORPORATE MIDDLE MANAGERSHOW TO WORK IN BUREAUCRACY / HIERARCHY?

LOGISTICS TRAINING FOR SCALE ORGANIZATION

POLITICAL DEFEAT OF THE SOUTH

PRO-AG (ANTI-MANUFACTURING)SOUTHERN = PRO-STATES’ RIGHTS (ANTI-FEDERAL) POLITICS = ANTI-TARIFF (FREE TRADE)

ANTI-BANK (EASY CREDIT)

1788-1868 = SOUTH WINS* 14/20 PRESIDENTIAL ELECTIONS

1868-1912 = SOUTH WINS 0/9 PRESIDENTIAL ELECTIONS

POLITICAL DEFEAT OF THE SOUTH

GILDED AGE USA = DEVELOPING COUNTRY ( = CHINA & MEXICO)

REPUBLICANS PRO-INDUSTRY POLICIES 1) GOLD STANDARD/TIGHT MONEY ANTI-BANK2) PROTECTIONISM FREE TRADE 3) NATIONAL MARKET STATE RIGHTS

GOLD STANDARD ATTRACTS INT’L INVESTMENT, WHILEPROTECTIONISM KEPT OUT FOREIGN PRODUCTS . . . BUT HURT FARMERS (EXPORTERS)

STATE POWER TO REGULATE BUSINESS DECLINED

WAR FINANCE

WAR FINANCECIVIL WAR = $$$

ISSUED GREENBACKS TO FINANCE THE WAR

GREENBACKS ≠ BACKEDBY GOLD

EASY CREDIT FOR “START-UP” BUSINESSES

WAR FINANCE

1860 – 1880 = MANY NEW SMALL BUSINESSES = COMPETITIVE MARKET

1875 (1879) SPECIE RESUMPTION ACT

CREDIT CONTRACTS BANKRUPTCIES CONSOLIDATION & MONPOLIZATION

GREENBACKS = “DEMOCRATIZES” WALL STREET JAY COOKE SELLS GREENBACK WAR BONDS TO ORDINARY AMERICANS

ROBBER BARONSWAR PROFITEERS ROBBER BARONS

RAILROADS: LELAND STANFORD, HENRY VILLARD (SLEEPY HOLLOW), CHAUNCEY DEPEW (PEEKSKILL), E.H. HARRIMAN (ROCKLAND)

OIL / CHEMICALS: JOHN D. ROCKEFELLER (POCANTICO), LEO BAEKELAND (YONKERS)

IRON / STEEL: ANDREW CARNEGIE (SLEEPY HOLLOW), HENRY FRICK

FINANCE: J.P. MORGAN, JAY COOKE, JAY GOULD (TARRYTOWN), JAMES FISK, DANIEL DREW (CARMEL)

RISE OF WALL STREET GREENBACKS DEBT SECURITIES (BONDS)

ROBBER BARON CORPORATIONS EQUITY SECURITIES (STOCKS)

VOLUME OF STOCK MARKET EASY TORAISE MONEY, BUTPRONE TO MANIPULATION

INDUSTRIAL IDEOLOGY

MONOPOLYGRAIN COSTS $10

WHAT WILL THE RAILROAD CHARGE?

BUSHEL = $100 IN CITY

MARGINAL REVENUE

SOCIAL LOSS MONOPOL

Y

MONOPOLY

COMPETITIVE MARKET: VALUE = COST = PRICE

NO PROFITS & NO BARGAINS

MONOPOLY = UNCOMPETITIVE MARKET

VERTICAL & HORIZONTAL INTEGRATION

CARNEGIE = CARNEGIE (US STEEL) = VERTICAL INTEGRATION

ROCKEFELLER = STANDARD OIL = HORIZONTAL INTEGRATION

VERTICAL INTEGRATION

HORIZONTAL INTEGRATION

PRE COMCAST-TIME WARNER

MERGER

POST COMCAST-TIME WARNER

MERGER

COMPETITION & PRICES