APK. What was the cultural impact of the Dawes Act (1887)? Name an economic impact of the completion of the transcontinental railroad? Now name a cultural impact? What was the significance of one of the inventions that you learned about on Friday?. The Gilded Age. Objective:
What was the cultural impact of the Dawes Act (1887)?
Name an economic impact of the completion of the transcontinental railroad? Now name a cultural impact?
What was the significance of one of the inventions that you learned about on Friday?
Analyze economic issues
Significant individuals, such as, Carnegie, Rockefeller, Morgan & Vanderbilt, were viewed as either…
Captains of IndustryRobber Barons
Successful Entrepreneurs Ruthless Tactics
Masters of Free Enterprise Destroyed Competition
Advanced Society Low wages to employees
CARNEGIE’S VERTICAL INTEGRATION
In order to maximize profits…
Carnegie paid his workers low wages and forced them to work 12 hour shifts.
He crushed attempts by workers to form labor unions.
ROCKEFELLER CHAPEL – UNIVERSITY OF CHICAGO
Critics attacked Carnegie for not paying his workers more, while using his wealth to build libraries and universities.
Carnegie published an article called “the Gospel of Wealth” in which he said that wealth is a sign of God's approval but that a millionaire should be a “trustee for his poorer brethren . . . doing for them better than they would or could for themselves.”
Carnegie also believed the wealthy should donate their money to causes that they believed in. Carnegie gave away $350 million during his lifetime.
CHICAGO’S STANDARD OIL BUILDING IS ONE OF THE WORLD’S TALLEST
Do you think the Gilded Age entrepreneurs were Captains of Industry or Robber Barons? Justify your response…
1887 – CONGRESS PASSED THE ICA
Do you believe it was the correct move for the government to step in and regulate business? Or should they have continued with a Laissez Faire approach?