Industrialism

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Industrialism
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How did it happen?

• War-encouraged growth
• Natural Resources
• Growing workforce
• Capitalism encourages entrepreneurs
• Government makes protective tariffs and takes
  laissez-faire approach

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Capitalism

• Private business
• Gives a sense that anyone can go from rags to
  riches
• Allows for entrepreneurs, free enterprises,
  competition, and innovation

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Innovations of Industrialism

• Electricity-Thomas Edison
• Better communication-Samuel Morse perfects the
  telegraph

• Steel the Bessemer processpurify iron to make
  it strong but light weight
• Telegraph for trains
• Mass production

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Impact of Industrialization

• U.S. economy booms with selling in the
  international market
• Society changes
• No thought about the environment yet

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Industrialism

• Section 2

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Rise of Big Business

• Rise of corporations-a number of people share the
  ownership of the business
• Why? To take advantage of expanding marketsmake
  
• However with the rise of corporations

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There is a rise of problems

• Monopoly-complete control over a product
• Cartel-make less amounts of a product to keep
  prices high

• Robber barons-mean business people who ate up
  small business
• Captains of Industry-business leaders were good,
  also leaders of country

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Problems of Big Business

• Horizontal Integration
• Vertical Integration
• Trusts-companies assign their stock to a board of
  trustees, who combine them into a new
  organization, trustees run the organization and
  make some profit

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Horizontal v. Vertical Integration

• Horizontal-system of consolidating many firms in
  the same business
• Rockefeller trusts

• Vertical-the gaining of control of many
  businesses to make up all phases of production
  (start to finish)
• Carnegie

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Social Darwinism

• Adaptation of Charles Darwins survival of the
  fittest.
• Wealth was a measure of ones inherent value and
  those who had it were the most fit.
• Thus society craved wealth

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With the role of business.

• Comes governments way of regulation
• Interstate Commerce Commission (ICC)oversees
  railroad operations, make sure things are fair
• Sherman Antitrust Actoutlawed any trusts
• Organized Labor Movement

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Industrialization

• Section 3

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Why was there a labor movement?

• As industry grows the demands on workers grows..

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Workers Endure Hardships

• Sweatshops
• No women rights
• No children rights
• Long days

• Little pay
• Unsafe working conditions
• Company towns
• All helped in the development of labor unions

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Labor Unions Form

• Used collective bargaining
• Strikes
• Socialism ideals-society at large should take
  charge of nations wealth

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Labor Unions Form

• Knights of Labor-founded by Uriah Smith Stephens,
  encouraged African American members, replace
  capitalism with workers cooperatives

• American Federation of Labor-founded by Samuel
  Gompers, skilled workers, high dues that were
  used to make pensions and strike funds

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Strike! Strike! Strike!

• Haymarket Square-Chicago, one policeman died, bad
  rep for Knight of Labor
• Homestead-steel workers and miners, troops called
  to suppress protesters
• Pullman-stopped railroad and mail delivery, led
  by Debs, was against the Sherman Antitrust act