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Title: The


1
The Incorporation of America
By Ms. Susan M. PojerHorace Greeley HS
Chappaqua, NY
2
Causes of Rapid Industrialization
  1. Steam Revolution of the 1830s-1850s.
  2. The Railroad fueled the growing US economy
    First big business in the US. A magnet for
    financial investment. The key to opening the
    West. Aided the development of other
    industries.

3
Causes of Rapid Industrialization
  • Technological innovations. Bessemer and open
    hearth process
  • Refrigerated cars
  • Edison --gt Wizard of Menlo
    Park --gt light bulb,
    phonograph, motion pictures.

4
Thomas Alva Edison
  • Wizard of Menlo Park

5
The Light Bulb
6
The Phonograph (1877)
7
The Ediphone or Dictaphone
8
The Motion Picture Camera
9
Alexander Graham Bell
Telephone (1876)
10
Alternate Current
George Westinghouse
11
Alternate Current
Westinghouse Lamp ad
12
The Airplane
Wilbur Wright Orville Wright
13
Model T Automobile
Henry Ford
14
Model T Prices Sales
15
U. S. Patents Granted
1790s ? 276 patents issued.
1990s ? 1,119,220 patents issued.
16
Causes of Rapid Industrialization
  1. Unskilled semi-skilled labor in abundance.
  2. Abundant capital.
  3. New, talented group of businessmen
    entrepreneurs and advisors.
  4. Market growing as US population increased.
  5. Government willing to help at all levels to
    stimulate economic growth.
  6. Abundant natural resources.

17
New Business Culture
  1. Laissez Faire --gt the ideology of the Industrial
    Age.

Individual as a moral and economic
ideal. Individuals should compete
freely in the marketplace. The
market was not man-made or invented.
No room for government in the market
but..
18
2. Social Darwinism
  • Herbert Spencer
  • British economist.
  • Advocate of laissez-faire.
  • Adapted Darwins ideas from the Origin of
    Species to humans.
  • Notion of Survival of the Fittest.

19
2. Social Darwinism
William Graham Sumner
20
New Business Culture
  1. Protestant (Puritan) Work Ethic Horatio
    Alger

21
New Type of Business Entities
  1. Pool railroads
  2. Focus organizing integrated systems by building
    feeder lines to bring business to main line
  3. Vanderbilt- NY Central, Jay Gould in SW, James J.
    Hill in W
  4. Trunk lines interconnect- standardization
  5. Cooperative agreements between companies on rates
  6. Positive effects
  7. Negative effects
  8. Trust --gt John D. Rockefeller

Standard Oil Co.
22
Standard Oil Co.
23
New Type of Business Entities
  1. Trust Horizontal Integration --gt John D.
    Rockefeller

Vertical Integration A. Gustavus
Swift--gt Meat-packing
B. Andrew Carnegie--gt U. S.
Steel
24
Iron Steel Production
25
New Type of Business Entities
26
U. S. Corporate Mergers
27
Industrial ConsolidationIron Steel Firms
28
New Financial Businessman
  • The Broker J. Pierpont Morgan

29
Wall Street 1867 1900
30
The Reorganization of Work
Frederick W. Taylor The Principles of Scientific
Management (1911)
31
The Reorganization of Work
The Assembly Line
32
Wealth Concentration Held by Top 1 of Households
33
of Billionaires in 1900
34
of Billionaires in 1918
35
The Protectors of Our Industries
36
The Bosses of the Senate
37
The Robber Barons of the Past
38
The Gospel of WealthReligion in the Era of
Industrialization
  • Wealth no longer looked upon as bad.
  • Viewed as a sign of Gods approval.
  • Christian duty to accumulate wealth.
  • Should not help the poor.

Russell H. Conwell
39
On Wealth
  • The Anglo-Saxon race is superior.
  • Gospel of Wealth (1889).
  • Inequality is inevitable and good.
  • Wealthy should act as trustees for their
    poorer brethren.

Andrew Carnegie
40
Worlds Industrial Output
41
R/R hurt small western farmers
  • The Grange (1887)- Oliver H. Kelley
  • Social cultural function
  • Political- state legislatures- Granger Laws
  • Munn v. IL. (1887)
  • Interstate Commerce Act (1887)
  • Interstate Commerce Commission

42
Americans reactSocial Labor Party
  • Laurence Gronlund
  • The Cooperative Commonwealth
  • Daniel DeLeon
  • The People newspaper

43
Americans reactAuthors present radical new views
  • Henry George
  • Progress and Poverty
  • Problems of the unequal distribution of wealth,
    advocated a single tax
  • Edward Bellamy
  • Looking Backward, 2000-1887
  • utopia socialist America with planned economy
  • Henry Damarest Lloyd
  • Wealth Against Commonwealth
  • Attacked Standard Oil, Social Darwinism,
    Laissez-Faire

44
Regulating the Trusts
  • 1877 --gt Munn. v. IL
  • 1886 --gt Wabash, St. Louis Pacific RR
    Co. v. IL
  • 1890 --gt Sherman Antitrust Act in restraint
    of trade rule of reason loophole
  • 1895 --gt US v. E. C. Knight Co.
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