business gets bigger
DESCRIPTION
Business Gets Bigger. National Banks + Tariffs. Established during the Civil War Boom and bust on frontier encouraged Republicans National Banking system Provided capital for railroads Stabilized economy against speculation Protective Tariffs Textiles, steel, wool and sugar. - PowerPoint PPT PresentationTRANSCRIPT
Business Gets Bigger
National Banks + Tariffs Established during the Civil War
Boom and bust on frontier encouraged Republicans
National Banking system Provided capital for railroads Stabilized economy against speculation
Protective Tariffs Textiles, steel, wool and sugar
Resources for Industrialization Favorable Gov’t policies Raw materials (water, minerals, iron,
metal) Labor Ideas Capitalism….2nd Industrial Revolution
The Rise of the Corporation Dominant form of Business Supported by Gov’t Policies Increased Standard of Living
”The Era of Combination”
Vertical Integration & Horizontal Consolidation Monopolies, Trusts, Holding Companies,
Corporations
Vertical Integration Carnegie-Steel Swift-
Meatpacking Predatory Pricing Lowers costs Profit at multiple
levels
Steel Manuf.Railroads
Several Iron Mines
Horizontal Integration Trusts
Monopolies
Standard Oil DuPont Eastman Kodak Singer
Big Business Leaders Captains of Industry or Robber Barons? John D. Rockefeller-Oil Andrew Carnegie-Steel JP Morgan-Finance Jay Gould-Railroads Gustavus Swift-Meat Packing
Think about it… How do customers benefit from vertical
combination?
Why does horizontal integration undermine benefits of capitalism?
William Graham Sumner & “Social Darwinism”
A drunkard in the gutter is just where he ought to be, according to the fitness and tendency of things. Nature has set upon him the process of decline and dissolution by which she removes things which have survived their usefulness.
A good father believes that he does wisely to encourage enterprise, productive skill, prudent self-denial, and judicious expenditure on the part of his son.
One thing must be granted to the rich: they are good natured.
A National Consumer Culture Advertising
A new field Magazines billboards
Catalogs and mail order
Consumption and deflation
Economy UnitesrEqual access…rural & urban
Corporate Workplace Women at work
Ranks Professions piecework
Retail Managers Salesmen
On the Shop Floor Blue-collar v. White-collar Mass production Scientific management Skilled v. unskilled Race and work
FRQ . Andrew Carnegie has been viewed by
some historians as the “prime representative of the industrial age” and by others as “an industrial leader atypical of the period.
Assess the validity of these views. (1986)