was the rise of industry good for the u.s?
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Was the rise of industry good for the U.S? . Preview. Create an invention or innovation that will make school easier for you. Explain how this invention works and why it would help you. Writing prompt. An innovation or invention that would make school easier would be a……. Industrialization. - PowerPoint PPT PresentationTRANSCRIPT
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