industrialization and corporate consolidation
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Industrialization and Corporate Consolidation. Industrial Growth in America - Reasons. Natural Resources – coal, oil, iron Immigration – steady flow both Asia and Europe Capitalist mentality supported by laissez faire government - PowerPoint PPT PresentationTRANSCRIPT
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Industrialization and Corporate
Consolidation
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Industrial Growth in America - Reasons
Natural Resources – coal, oil, iron Immigration – steady flow both Asia and
Europe Capitalist mentality supported by laissez
faire government Ingenuity – 440,000 patents in 1800s –
inventions – Edison’s invention factory
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The Telephone
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The Light Bulb
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Steel Beam Girders
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The Electric Trolley
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The Typewriter
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Railroads
1865 – 35,000 Miles 1900 – 200,000 miles Land claiming – railroad companies
given land claims – size of Texas Success of town based on railroad stop
– no railroad = “ghost town” Transcontinental – Leland Stanford
Union Pacific meets Central Pacific
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The Golden Spike Ceremony: Utah, May 10,1869
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Corruption
money from government not used appropriately – Credit Mobilier
Abuse of Chinese and other immigrant labor Faulty tracks just to make a dime Improvements – steel – safer/stronger –
standardized size – standardized time “Stock watering” – make stock in railroads look
better than it is – bribed judges
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Steel
Andrew Carnegie – monopolized then gave away $450 million by death
America producing 1/3 of world’s steel thanks to Bessemer Process
Carnegie - $1.4 billion more than US worth in 1800
“Vertical” Consolidation
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Oil
Rockefeller – kerosene first pushed – then automobile
Vertical Consolidation – own supply and distribution
Horizontal Consolidation - 95% of oil refineries
Rockefeller – uses illegal rebates and spies to control industry
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Laissez Faire Conservatism
government policy in late 19th century industry controls gov’t Gospel of Wealth – Lord gave money to
wealthy class – must be morally responsible
Social Darwinism – wealthy deserve it – inherently better
Poor by own shortcomings –poor deserve it
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Effects on worker
Business becomes depersonalized – feel like merely a cog in a machine – hurts creativity
Free enterprise/farming replaced by corporation Factory controls life – whistle and artificial
discipline – become subservient Gibson Girl – advertising campaign encourages
women to work in offices 2/3 dependent on wage – unemployment not
based on effort, but larger economic issues
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Picketing for the 8 Hour Work Day
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The Gibson Girl
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Union Movement
Manual laborers vulnerable – employers can always bring in cheaper immigrant labor
Machines displace workers Corporations make labor organization
impossible Control legal process – best lawyers, politicians
corrupt employs “scabs”/strike breakers – “I can hire one
half to kill the other half Force workers to take ironclad oath – won’t join a
union Create company town – employees in debt to
company stores
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Labor Unions
Knights of Labor – replaced National Labor Union – began as a secret society Open to everyone – regardless of gender/race Overzealous – talked about social reform/changing
society – goals too unrealistic Haymarket Square – Chicago – dynamite injures cops –
anarchists linked to unions Leads to massive riot – destroys reputation of Knights of
Labor American Federation of Labor – Samuel Gompers –
“bread and butter” unionism More realistic – wages, hours, working conditions Used walkout and boycott to get way by 1900 view of labor starts to change – not seen as
chaos starters
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Industrialization Judgment
Were capitalists “Captains of Industry” or “Robber Barons?”
Class tension never as big a deal in America as in Europe
Creates belief in upward mobility But…destroyed traditional farmer’s
values/spiritual lives for capitalism Two classes resulted – owners of labor
class and the labor class
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Questions to Consider
What were the costs and benefits of the industrial transformation of the post-Civil War era?
Should industrialists like Vanderbilt, Carnegie, and Rockefeller be viewed as robber barons or captains of industry?
Was the growing class division of the time a threat to American democracy? Why or why not?
Why did American workers have such trouble responding to the new industrial conditions of labor? Why were business and the middle-class public generally hostile to allowing workers to organize as industry did? Why did the AF of L survive while the Knights of Labor failed?
Does the government regulation of the economy disprove the belief that capitalism is a morally superior economic theory? Why or why not?