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American Industrialization

American Industrialization. Basics:. What do you need to start a business? . Industrialization – rapid growth of business, a move towards mechanization, modernization and technological change. Preconditions. T echnology. Industrial Rev!!. Early Industrial Revolution. Growth .

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American Industrialization

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  1. American Industrialization

  2. Basics: What do you need to start a business? • Industrialization – rapid growth of business, a move towards mechanization, modernization and technological change • Preconditions • Technology Industrial Rev!! Early Industrial Revolution Growth • Stimuli that spur growth • New Business Models US = POWER HOUSE

  3. Preview: Industrialization – 6 Contributing Factors • **1. Land – space, natural resources, favorable climate and natural transportation systems • **2. Labor – People to work the business • **3. Capital – money, investment, tools, buildings, machinery

  4. Preview: Industrialization – Contributing Factors (cont.) • 4. Ingenuity / Technology – ideas / new inventions better infrastructure and ideas about business management • 5. Government Policies – protection and regulation • 6. Consumers – people to buy the goods

  5. Contributing Factor: Land • Space = Huge Continent • Natural resources (iron, water) • Favorable and varied climate • Natural transportation systems

  6. Contributing Factor: Labor • Large numbers of immigrants from abroad (new) and within (“old”) • (chapter 15)

  7. Contributing Factor: Capital • What does a business need $ for? • Capitalism – system where all the factors of production are privately owned • Quest for profits = Cutthroat competition • Businesses need $ to make $ • Investors / capitalists take risks by giving $ to businesses, hope to be rewarded

  8. Business Cycle • Businesses need $ • Investors buy stock • businesses use the money to improve their product • stockholders share in the profits

  9. Contributing Factor: Capital • Corporation – Company run by members / stock holders (independent from owners) • protects owners and stockholders (limited liability) • Stock / Share – pieces of a company bought by people

  10. Contributing Factor: Ingenuity / Technology • Improvements in infrastructure: • Transportation, communication • Standardization of gauge and time

  11. Contributing Factor: Ingenuity / Technology • New inventions • Electricity! – Thomas Edison • Telegraph / telephone – Alexander Graham Bell • “Rock oil” – fuel and lubrication • Bessemer process – making iron into steel

  12. Contributing Factor: Ingenuity / Technology • New ideas about business management • Factory System - assembly line / mass production • Frederick Taylor – Scientific Management • Efficiency and simplicity of motion = Productivity = Profits

  13. Contributing Factor: Ingenuity / Technology • New ideas about business management • Trusts – set of companies working together to limit competition • Monopolies – a company that dominates an industry - Designed to limit competition • Vertical integration / organization • Horizontal integration / organization

  14. New Ways of Organizing Business

  15. U.S. Corporate Mergers • Wealthiest Americans

  16. Vertical and Horizontal Organizations

  17. Review and Preview • Review: What would Google look like if it were: • Horizontally integrated? • Vertically integrated? • Preview: What were monopolists / Government thinking? • Laissez- Faire, Social Darwinism and the Gospel of Wealth

  18. Philosophy of the Monopolists • Laissez – Faire Capitalism • Social Darwinism • Gospel of Wealth • Philanthropy

  19. Carnegie Library of Pittsburgh

  20. Carnegie Library of New York

  21. Carnegie Library of Crawfordsville IN

  22. …More Carnegie Libraries Oregon • Camden NJ Hopkinsville Kentucky

  23. What does this cartoon show? Why might this be a problem?

  24. Contributing Factor: Government Policies • Allowed high immigration levels • cheap labor and lots of consumers • High import tariffs = protection from foreign competition

  25. Contributing Factor: Government Policies • Influenced by wealthy trusts (Laissez – faire policies and social Darwinsim) • Politicians received bribes / great deals in exchange for favors • Sherman Antitrust Act?

  26. Shaded areas represent land grants made to the railroads by the federal government

  27. Contributing Factor: Government Policies • Local level – political bossesgot votes in exchange for providing jobs to immigrants Gilded Age

  28. Contributing Factor: Consumerism • “new way” = Mail Order • Montgomery Ward – catalogs • Richard Sears – color / paper improvements • Buyers Palace • Department stores for all • Innovation in steel, concrete and glass All Made possible because of machines, innovation and competition

  29. Consumerism Today: • List 10 different products that you see advertised regularly • What do these products say about our culture in 2013? • Who are they advertised towards? • What products surprise you? (are any strange?) • What products would you expect to be similar to things people were buying 100+ years ago?

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