the rise of big business 1/31-2/1
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The Rise of Big Business
Andrew Carnagie
Steel Empire
• Andrew Carnagie- Scottish immigrant
• Made a fortune on steel mills
• Believed the rich had a duty to help the poor, called this the “Gospel of Wealth”
Rise of the Corporation
• A corporation is a business that is owned by investors
• A corporation sells stocks or shares in the business
John D. Rockefeller
Rockefeller’s Oil Empire
• Built oil refineries• Bought out all other
oil companies• Shrewd businessman• Created a monopoly
on oil
Immigration
Why Immigrants Came
• Land became scarce in Europe
• Political and religious persecution
• American factories needed labor
• The promise of freedom
Where Did They Come From?
• Northern and western Europe
• Southern and Eastern Europe
• Americas
• Asia– Chart on page 603
Becoming American
• Newcomers struggled to adjust
• Had to acculturate• Acculturation is the
process of holding onto older traditions while adjusting to new ones
Resistance
• Nativists sought to limit immigration
• Argued that their language, traditions, and religions were too different
• Threatened because they would work for a lower wage
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