On p. 3 of your composition book write the following questions and an answer: 1. What does laissez faire mean in your own words? 2. Why did the free enterprise system lead to so many new inventions during the Gilded Age? THE GILDED AGE PT 2
B I G BU SI N E SS A ND RA IL R OA D S INDUSTRIALIZATION Definition of Industrialization: an economy based on manufacturing and production instead of agriculture (farming) growth of factories Large increase of industrialization during the Gilded Age (late 1800s)
Industry- a specific area of business usually related to factories/ manufacturing WHY DID INDUSTRIALIZATION OCCUR SO RAPIDLY DURING THE GILDED AGE? There was government support for big New Cheap labor businesses-technology/ no regulation/rules
sources inventions Industrialization led to(immigrants) the development of (electricity) Big Businesses Banking, RR, steel, oil, and electricity = largest
New Free transportatio enterprise/ industries n (RR) Monopolies and trusts emerged Laissez faire
Industrialization Monopoly- one company controlling all of an industry Trust- a few companies control all of an industry Ex: if ATT was the only cell phone company WHAT ARE THE PROS AND CONS OF BIG BUSINESS?
Pros of Big Businesses Cons of Big Businesses Provide jobs Abuse of workers (bad pay, poor conditions) cheaper goods
pollution faster production abuse of power/influence politicians money to spend on developing overtake small businesses
new technology MANAGEMENT Two ways to create big businesses Vertical integration Controlling all phases of production that make up a product Horizontal integration Combining many companies into one
large company (monopoly) CAPTAINS OF INDUSTRY Rich men of the time (because of free enterprise) Called 2 different names by different people Captains of Industry- good for the country. Provided jobs, helped economy, did good OR Robber Barons- made profits off of underprivileged.
Didnt pay people enough, took advantage, overcharged Why can business leaders be referred to as both robber barons and captains of industry? John Rockefeller Andrew Carnegie
JP Morgan Cornelius Vanderbilt GROWTH OF RAILROADS Led to rapid industrialization during Gilded Age Railroad lines built in industrialized North; later extended west and south Building them cost a lot of $$; needed better/new engineering, and massive labor
Mostly built by Irish (east) and Chinese (west) immigrants GROWTH OF RAILROADS Led to faster and cheaper distribution of goods- created a national market Totally changed the way trade happened Government gave railroad companies land grants- free
pieces of land- to build railroads on Railroad companies used the land they needed, then sold the rest for profits But led to widespread corruptionnormal during Gilded Age Compare the location of Railroads in 1860 and 1890. Where did the railroads expand?
How did the expansion affect the location and growth of U.S. cities? How did the growth of railroads promote the growth of cities and trade? How did the growth of railroads effect everyday lives of farmers? Big Business owners? Describe what is going
on in this political cartoon. What does this cartoon say about the power Cornelius Vanderbilt had over the railroads? How do you think people reacted to his power?
INDUSTRIALIZATION The ruins of Richmond, Virginia, after the Civil War, January 1865 INDUSTRIALIZATION Thomas Edisons light bulb was one of many innovations that dramatically changed the daily lives of Americans. By 1910, many people had electricity and refrigeration in their homes.
Compare the pictures. These illustrate a typical US city during its time. 1. What is the difference in US cities from 1865 to 1900? 2. How would the differences effect transportation and communication?
STAAR PRACTICE STAAR PRACTICE Think back to Gilded Age Pt. 1 notes What role does government have in a free enterprise system? In what ways did the government support big businesses during the Gilded Age?
BIG IDEA What is industrialization? What factors led to the rapid industrialization during the Gilded Age? How did the railroads both benefit from and contribute to the industrialization of the United States?
Objectives Company Organization Trends The Marketing & Sales Organization The Marketing Department's Relation to Other Departments Building a Customer-Focused Culture Improving Marketing Implementation The Marketing Audit (a) Stage 1: Simple Sales Department (a) Stage 2: Sales Department w/ Ancillary Marketing...
Advanced Topics in Software Engineering * Review A concurrent program consists of a number of threads that execute in parallel. There are three fundamental issues in concurrent programming: nondeterminism, synchronization and communication. A concurrent execution can be characterized as an...
Jung's archetypal theory is actually based on real life events of the struggles he had in the relationship with his mother, and a difficulty in establishing a sense of 'I' (i.e. persona, shadow, self). Jung's archetypal symbols are presumed to...
The rope should be positioned at a 90 degree angle to the davit arm for maximum control during lifting. HOIST OPERATION: LIFTING The rope lanyard attached to the hoist arm should always be pulled at a right angle to the...
A tort is a civil wrong that causes someone else to suffer loss or harm resulting in legal liability for the person who commits the act. The cause of legal action is not necessarily a crime, as the harm may...
To start the presentation, click on this button in the lower right corner of your screen. The presentation will begin after the screen changes and you press enter. ... most recent IRB-approved clean MS-Word version from Section . 10-1. of...
Commitment 11 of the National Dementia Strategy: Quality and Excellence in Specialist Dementia Care (QESDC) ... skill mix, working patterns. NHS Scotland Nursing and Midwifery Workload and Workforce Planning Tools ... Commitment 11 of the National Dementia Strategy: Quality and...
Contour Lines. Contour lines are lines drawn on a map connectingpoints of equalelevation . If you physically followed a contour line, elevation would remain . constant. Contour lines that have a . number. on them, tell you the . elevation....
Ready to download the document? Go ahead and hit continue!