Industrial Age- from 1860-1900 the US transforms from an agricultural nation to the largest

manufacturing nation in the worldThink- Why do you feel the US is one of the most productive,

richest, and industrial nations in history?Students will understand1.Identify 4 factors that allowed the US to become a successful manufacturing nation2.Identify 3 entrepreneurs and their industry that fueled the US’s growth and explain how they became so successful3.Analyze 2 reasons for the Government’s inaction in regulating industrialization, allowing corporations to take advantage of the power, creating an unfair business environment that favored the rich at the expense of the poor.

Factors of Industrialization– Why do you feel the

US became the richest country in the world while countries like Mexico stayed relatively poor?

• 1) Natural Resources• 2) Transportation• 3) Capital• 4) Labor• 5) Technology• 6) Gov. response-

subsidies, aid, tariffs– Laissez-Faire

Technology and Inventions

• How does a new invention create more wealth for the country?

• How have new inventions changed your life?

Inventors• Alexander Graham Bell

– Telephone• How does the phone change

society? How did people communicate before?

• Thomas Edison– Electric light bulb, phonograph

(record player), motion picture camera• How are Edison’s inventions

reflected in today’s society?• Christopher Sholes/Typewriter

• What group of people will benefit most from Bell and Sholes invention?

Railroads- first mega industry in US that helped US industrialize and get rich

• Land Grants- Gov. gave 10sq mi. of land for each 1 m. of RR tack laid

• Transcontinental RR- connected Ca. with US– Union Pacific- east to west (NB-Utah)– Central Pacific (Leland Stanford, Collis

Huntington) west/Ca-east/Ut• What was the real motivation behind

the two companies in laying RR track?• Time Zones- created (Eastern, Central,

Mountain, Pacific)

• Long Haul vs. Short Haul- unfair rates charged by RRs– ?What will cost more? Sending a

package from New York to LA or LA to Riverside in 1880? WHY?

Consolidation of Industry- companies tried to destroy competition in order to control their

industry and prices• Monopoly/Trust- when one company

controls an entire industry– Vertical Integration- when a

company controls every part of creating a product• How does V.I. benefit a company?• What would McDonalds own under VI

in order to create a burger?

– Horizontal Integration- when a company buys out companies that make the same product• What would McD’s own under H.I to

better control the fast food industry? Any recent examples of other companies merging??

Robber Barons- group of super rich who were the titans of industry and dominated business in US

• John Rockefeller/ Standard Oil- 90% of oil in 1897

• Trust- Rock. had central authority to coordinate oil production nationally

• Andrew Carnegie/Steel• Scientific Management- simplified

the motions needed to create a product– What is the problem for workers

with simplifying work to a point anyone can do it?

• J.P. Morgan/Investment Banker- bought companies (sat on board of 112 corps worth $20 bill.)

• What is the problem with a group of bankers controlling so many industries?

Government and Wealthy response to Robber Barons• Laissez Faire- “Hands Off” Gov. stays out of

business and does not set rules that would limit business– What is the problem with government not

setting limits on industry?

• Social Darwinism- survival of the fittest, richest deserve wealth because they are strong and poor are weak and lazy– What is the problem with this ideology?

(think free competition also)

• Gospel of Wealth- idea the wealthy have a responsibility to share their wealth for good of society, set a good example– Carnegie- gave away $350 million (libraries,

universities, Carnegie Hall, foundation)• What is the problem with the wealthy deciding

how to spread their wealth?

• Horatio Alger Story- rags to riches story• Can a person really become rich through

hard work and determination at this time?