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Aim: How did the Gilded Age lead to Industry and Big Business?

Aim: How did the Gilded Age lead to Industry and Big Business? . Do Now: Homework: Modern Robber Barons . Causes of Industrialization. Natural Resources. Civil War. Technology. Growing Workforce. Gov’t Policies. Civil War .

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Aim: How did the Gilded Age lead to Industry and Big Business?

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  1. Aim: How did the Gilded Age lead to Industry and Big Business? Do Now: Homework: Modern Robber Barons

  2. Causes of Industrialization Natural Resources Civil War Technology Growing Workforce Gov’t Policies

  3. Civil War • The War encouraged production, innovation, and expansion of the railroad.

  4. Natural Resources • Ample Natural Resources like oil, fuels, and its growth. Rockefeller

  5. Growing Workforce • Immigrants are willing to work for low wages.

  6. Technology • New technology and innovative business practices spurred growth.

  7. Gov’t Policy • Government policies encouraged investment in business practices.

  8. THE RISE OF BIG BUSINESS!

  9. Trusts • A group of separate companies placed under control of a single management board. • Assign Stock to a board of trustees Corporations • (firms) • Group ownership develops • Work to MAXIMIZE profits.

  10. Monopoly • Complete control of a product or service • They must buy out competitors or drive them out!

  11. “Captains of Industry”

  12. “Captains of Big Business” JP MORGAN Carnegie “steel king” Iron. Steel. • Private banking Rockefeller Vanderbilt • Oil • Standard Oil Company • Railroad Industry

  13. The Debate over Big Business Business leaders are getting wealthy; smaller companies and consumers begin to question big businesses’ goals and tactics .

  14. The Debate over Big Business “Robber Baron” “Captain of Industry” Provide thousands of jobs Organized industry Developed business practices Philanthropists • Harm of high prices • Shrewd the capitalists • Drive out small businesses • Excessive power

  15. Social Darwinism • Wealth was a measure of one’s inherited value on those who had it and were the most “fit”. Does this JUSTIFY THE BUSINESS PRACTICES OF MONOPOLIES?

  16. % of Billionaires in 1900

  17. Important Business Practices

  18. Antiunion Actions • Sherman Antitrust Act (1890): to order unions to STOP disrupting free trade. It outlawed any trust that operated restraint of trade or commerce in the US.

  19. Exit Ticket: Were the Titans of Big Business: Captains of Industry or Robber Barons..WHY!?

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