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Robber Barons vs . Captains of Industry

Robber Barons vs . Captains of Industry. -Pros and Cons of Industrialists -Treatment of workers -Antitrust Movement. Captains of Industry. If you work hard you can be rich too!. I helped make life easier for you. We made this country an empire. I created jobs.

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Robber Barons vs . Captains of Industry

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  1. Robber Barons vs. Captains of Industry -Pros and Cons of Industrialists -Treatment of workers -Antitrust Movement

  2. Captains of Industry If you work hard you can be rich too! I helped make life easier for you We made this country an empire I created jobs We make all those nice things you like! I provide affordable products

  3. Robber Barons We started corporations You work for pennies while I make millions The people you vote for work for me I gamble with the taxpayers money Corporations are people and have rights---right? I get government bailouts…

  4. Captains of Industry Created Jobs Increased production Provided cheap products Gave money back to the community Helped build the nation Robber Barons Exploited workers Corrupted the government Greedy Offered bribes for political favors Above the law OpposingView Points

  5. Corporations are people???? • A corporation: • Is owned by many people (stockholders) • But treated as a single entity • It can • Own property • Pay taxes • Sue or be sued • Make contracts

  6. Corporations • Stocks • Shares of a corporations • Share risk and reward • Stockholder • People who own a corporations via stocks • Buying/Selling STOCKS allows corporations to expand/increase • Production • Employees • Factory • Research & Development

  7. Corporations • More money brings • New technologies • More workers • New machines • Bigger factories • Economies of Scale • Corporation can make more goods at a lower cost….passing the saving on to you 

  8. Costs Fixed Operating Money used to make your business GO!!! Water Electricity Employees Shipping Wages Materials • Money that you have to pay regardless if your business goes or not… • Loans • Mortgages • Taxes • Rent

  9. POOLS • An affiliation of two or more people/companies formed for the purpose of attempting to manipulate a products price and/or volume. • = gas station $ $ $ $ $

  10. Vertical Integration • Corporation owns all of the companies which it depends on to improve profits. Cut out the profit margins of “middle man” companies. • Ex. McDonalds

  11. Horizontal Integration • Combining or merging LIKE companies into one LARGE company. • Ex…Blockbuster Video

  12. Monopoly • Exclusive control of a product or service in a particular market that makes it possible to manipulate prices.

  13. TRUSTS $$$ $$$ BIG OIL • an organization of businesses designed to operate like a monopoly to circumvent anti-monopoly laws Trustee 3 Juan’s Oil Trustee 2 Bill’s Oil Trustee 1 Joe’s Oil

  14. Holding Companies • Corporation that doesn’t really do anything except own a significant amount of stock in real companies. • Board of Directors • CEOs

  15. Cutting Costs $10 a day • Skilled Workers replaced by Unskilled machine operators. • Production cost lower • Deflation = profits • Value of $ rises • Prices drop • Workers wage has more buying power • Terrible working conditions • Unsafe • Unsanitary • Long hours • Low wages $3 a day

  16. Workers Unite • TRADE UNIONS- Limited to Skilled Laborers • Iron workers • Shoemakers • Industrial Unions- Common Laborers and craft Workers • Carpenters • Painters • artisans

  17. Workers Organize Goal #1: Shorter work day Goal #4: Worker owned factories boycotts Knights of Labor – formed in 1869 as the first labor union in the nation. Strikes Goal #3: Equal pay for men and women Goal #2: End child labor arbitration

  18. Blacklisted • Anyone that tried to start a union considered a troublemaker. • Could not get a job anywhere • Had to • Move • Change Name • Change Identity

  19. LOCKOUT • COMPANY ANSWER TO STRIKE • NO PAY • NO WORK • HIRE REPLACEMENT WORKERS • “STRIKE BREAKERS” • SCABS

  20. STRIKES • Workers walk off the job & protest working conditions • Early Strikes resulted in Violent Riots • Government normally sided with Business because they shared similar interest in companies making a profit • Pullman Strikes • Great Rail Road Strike • Haymarket Riots

  21. American Federation of Labor (AFL) • umbrella organization made up of many different trade unions. • Led by Samuel Gompers • Unions stay out of Politics • Closed Shops- Companies only hire Union Workers

  22. Unions of the AFL - CIO A F L United Farm Workers of America Screen Actors Guild United Steel Workers of America American Postal Workers Union International Association of Firefighters American Federation of Teachers

  23. Social Darwinism Herbert Spencer Based on Charles Darwin’s theory of evolution Those who are rich are more fit, than those who are poor Attempted to use science to explain social classes Gospel of Wealth Andrew Carnegie God gave wealth to the most capable people It is the duty of the wealthy to give money to help the poor Carnegie gave millions of dollars away to establish libraries, colleges, and museums Justifications for Industrialists’ Extreme Wealth

  24. Captains of Industry • Andrew Carnegie- US Steel • J. P. Morgan- Banking, and Insurance Companies • John Rockefeller – Standard Oil • Cornelius Vanderbilt- Rail Roads

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