Henry Fords Model T Assembly Line Video

1. Henry Fords Model T Assembly Line Video

2. Assembly Line • A production system with machines and workers arranged so that each person performs an assigned task OVER and OVER again.

3. Mass Production • Assembly line = Mass production • Mass Production – Manufactures can make large quantities of a product quickly and cheaply. • Larger profits

4. The Age of Railroads • 1890=more than 200,000 miles of track • 1888=more than 2,000 railroad workers die and 20,000 are injured. • Built by immigrants (Asians in the West and Irish in the East) also African-Americans • Earn very little

6. Joining the nation • Railroads link the nation together • Travel and industry increases • Time zones are created to keep railroad schedules.

7. Industry grows • Railroads cause industry to grow • George Pullman invents a sleeping car known as a Pullman car

8. Corruption • Railroads were usually corrupt • Charged high prices • Bribed government officials • Made millions through trickery

9. Congress Acts • Congress tries to combat corruption • Congress passes the Interstate Commerce Act to regulate trade • Not strong enough to control the railroads

10. END

11. An Age of Big Business • P.45 in packet

12. Big Business Emerges • Businesses consolidate into big industries or ________________ • These are run by businessmen who become very wealthy and become known as ___________________.

13. Big Business Emerges • Businesses consolidate into big industries or corporations • These are run by businessmen who become very wealthy and become known as _____________.

14. Big Business Emerges • Businesses consolidate into big industries or corporations • These are run by businessmen who become very wealthy and become known as robber barons.

15. Government practices • Government supported laissez-faire economics • _______________ • Government does very little _________ • Result=very wealthy businesses and lots of corruption and little competition

16. Government practices • Government supported laissez-faire economics • Means hands off • Government does very little _________ • Result=very wealthy businesses and lots of corruption and little competition

17. Government practices • Government supported laissez-faire economics • Means hands off • Government does very little regulation • Result=very wealthy businesses and lots of corruption and little competition

18. Social Darwinism • Idea that the best individuals will succeed • The survival of the _______ • Government should do very little

19. Social Darwinism • Idea that the best individuals will succeed • The survival of the fittest • Government should do very little

20. Robber Barons or Captains of Industry? • Andrew Carnegie • Built a giant steel firm • Bought out competition and provides of raw materials and transportation of his goods • Known as __________ consolidation

21. Robber Barons or Captains of Industry? • Andrew Carnegie • Built a giant steel firm • Bought out competition and provides of raw materials and transportation of his goods • Known as vertical integration

22. Vertical consolidation • Buying out companies for ________ of the productive process from raw materials to marketing.

23. Vertical Integration • Buying out companies for every stage of the productive process from raw materials to marketing.

24. John D. Rockefeller • Another robber baron • Controlled ___________ • Bought other oil companies • This is horizontal consolidation=controlling competition at ________ ___ process of a product.

25. John D. Rockefeller • Another robber baron • Controlled Standard Oil • Bought other oil companies • This is horizontal consolidation=controlling competition at ________ ___ process of a product.

26. John D. Rockefeller • Another robber baron • Controlled Standard Oil • Bought other oil companies • This is horizontal integration=controlling competition at one step in the process of a product.

27. Horizontal Integration Vertical Integration

28. Cornelius Vanderbilt: _____ ______________ J. P. Morgan: __________ ______________ Robber barons did philanthropy work (gave money to charities) Other robber barons

29. Cornelius Vanderbilt: RR monopolist J. P. Morgan: __________ ______________ Robber barons did philanthropy work (gave money to charities) Other robber barons

30. Cornelius Vanderbilt: RR monopolist J. P. Morgan: banking monopolist Robber barons did philanthropy work (gave money to charities) Other robber barons

31. Are you a philanthropist? Could you be?

32. Monopolies and trusts • Robber barons created _________ • Where a firm controls _________ _________________ • Also created _____ • Companies agree to work together

33. Monopolies and trusts • Robber barons created monopolies • Where a firm controls _________ _________________ • Also created _____ • Companies agree to work together

34. Monopolies and trusts • Robber barons created monopolies • Where a firm controls all the competition • Also created _____ • Companies agree to work together

35. Monopolies and trusts • Robber barons created monopolies • Where a firm controls all the competition • Also created trusts • Companies agree to work together

36. Sherman Anti-trust Act • Congress passed the Sherman anti-trust act to outlaw ______________ ___________ • Difficult to enforce

37. Sherman Anti-trust Act • Congress passed the Sherman anti-trust act to outlaw trusts and monopolies • Difficult to enforce

38. What’s wrong with this? • What’s wrong with having monopolies and no competition?

39. Lets Review Video

40. End • HW Complete page 1 in packet: Captains of Industry or Robber Barons?