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American Industrialization. Basics:. What do you need to start a business? . Industrialization – rapid growth of business, a move towards mechanization, modernization and technological change. Preconditions. T echnology. Industrial Rev!!. Early Industrial Revolution. Growth .

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Presentation Transcript
basics
Basics:

What do you need to start a business?

  • Industrialization – rapid growth of business, a move towards mechanization, modernization and technological change
  • Preconditions
  • Technology

Industrial Rev!!

Early Industrial Revolution

Growth

  • Stimuli that spur growth
  • New Business Models

US = POWER HOUSE

preview industrialization 6 contributing factors
Preview: Industrialization – 6 Contributing Factors
  • **1. Land – space, natural resources, favorable climate and natural transportation systems
  • **2. Labor – People to work the business
  • **3. Capital – money, investment, tools, buildings, machinery
slide4

Preview: Industrialization – Contributing Factors (cont.)

  • 4. Ingenuity / Technology – ideas / new inventions better infrastructure and ideas about business management
  • 5. Government Policies – protection and regulation
  • 6. Consumers – people to buy the goods
contributing factor land
Contributing Factor: Land
  • Space = Huge Continent
  • Natural resources (iron, water)
  • Favorable and varied climate
  • Natural transportation systems
contributing factor labor
Contributing Factor: Labor
  • Large numbers of immigrants from abroad (new) and within (“old”)
  • (chapter 15)
contributing factor capital
Contributing Factor: Capital
  • What does a business need $ for?
  • Capitalism – system where all the factors of production are privately owned
    • Quest for profits = Cutthroat competition
    • Businesses need $ to make $
      • Investors / capitalists take risks by giving $ to businesses, hope to be rewarded
business cycle
Business Cycle
  • Businesses need $
  • Investors buy stock
  • businesses use the money to improve their product
  • stockholders share in the profits
contributing factor capital1
Contributing Factor: Capital
  • Corporation – Company run by members / stock holders (independent from owners)
    • protects owners and stockholders (limited liability)
  • Stock / Share – pieces of a company bought by people
contributing factor ingenuity technology
Contributing Factor: Ingenuity / Technology
  • Improvements in infrastructure:
    • Transportation, communication
      • Standardization of gauge and time
contributing factor ingenuity technology1
Contributing Factor: Ingenuity / Technology
  • New inventions
    • Electricity! – Thomas Edison
    • Telegraph / telephone – Alexander Graham Bell
    • “Rock oil” – fuel and lubrication
    • Bessemer process – making iron into steel
contributing factor ingenuity technology2
Contributing Factor: Ingenuity / Technology
  • New ideas about business management
    • Factory System - assembly line / mass production
      • Frederick Taylor – Scientific Management
      • Efficiency and simplicity of motion = Productivity = Profits
contributing factor ingenuity technology3
Contributing Factor: Ingenuity / Technology
  • New ideas about business management
    • Trusts – set of companies working together to limit competition
    • Monopolies – a company that dominates an industry - Designed to limit competition
      • Vertical integration / organization
      • Horizontal integration / organization
u s corporate mergers
U.S. Corporate Mergers
  • Wealthiest Americans
review and preview
Review and Preview
  • Review: What would Google look like if it were:
    • Horizontally integrated?
    • Vertically integrated?
  • Preview: What were monopolists / Government thinking?
    • Laissez- Faire, Social Darwinism and the Gospel of Wealth
philosophy of the monopolists
Philosophy of the Monopolists
    • Laissez – Faire Capitalism
  • Social Darwinism
  • Gospel of Wealth
  • Philanthropy
more carnegie libraries
…More Carnegie Libraries

Oregon

  • Camden NJ

Hopkinsville Kentucky

slide25

What does this cartoon show? Why might this be a problem?

slide26

Contributing Factor: Government Policies

  • Allowed high immigration levels
    • cheap labor and lots of consumers
  • High import tariffs = protection from foreign competition
slide27

Contributing Factor: Government Policies

  • Influenced by wealthy trusts (Laissez – faire policies and social Darwinsim)
      • Politicians received bribes / great deals in exchange for favors
      • Sherman Antitrust Act?
contributing factor government policies
Contributing Factor: Government Policies
  • Local level – political bossesgot votes in exchange for providing jobs to immigrants

Gilded Age

contributing factor consumerism
Contributing Factor: Consumerism
  • “new way” = Mail Order
    • Montgomery Ward – catalogs
    • Richard Sears – color / paper improvements
  • Buyers Palace
    • Department stores for all
    • Innovation in steel, concrete and glass

All Made possible because of machines, innovation and competition

consumerism today
Consumerism Today:
  • List 10 different products that you see advertised regularly
  • What do these products say about our culture in 2013?
    • Who are they advertised towards?
  • What products surprise you? (are any strange?)
  • What products would you expect to be similar to things people were buying 100+ years ago?