9/15/14 Essential Question
Industrialization
increased the standard
of living and the
opportunities of most
Americans,
but at what cost?
Today we will analyze and explain how economic
issues effected the industrialization process
–
™ In your notebook, write down a definition for
entrepreneur.
–  You may use a textbook or technology
™ List three examples of contemporary entrepreneurs
and provide a reason why.
™ Share your definition and examples with your table.
™ On your whiteboard, write one definition all
members of your table agree on for entrepreneur.
–  Be prepared to share examples of entrepreneurs and
your table definition if called on!
1 9/15/14 Causes of Rapid
Industrialization
–
4.  Unskilled & semi-skilled
labor in abundance.
5.  Abundant capital.
6.  New, talented group of businessmen
[entrepreneurs] and advisors.
7.  Market growing as US population increased.
8.  Government willing to help at all levels to
stimulate economic growth.
9.  Abundant natural resources.
Rise of Entrepreneurship
–
™ Entrepreneur – someone who organizes, manages,
and assumes the risks of a business; an agent of
change; discovers new ways to combine resources
™ In the late 1800s, many were considered
entrepreneurs because they created value by moving
resources out of less productive areas and into more
productive ones.
™ Other example: skilled immigrants used their trade
skills to establish businesses of their own.
2 9/15/14 Free Enterprise
–
™ As industry grew rapidly, the US government
promoted free enterprise (business that can operate
competitively for profit with little government
involvement/regulation)
New Business Culture
1.  Laissez Faire à the ideology of the
Industrial Age.
§  Individual as a moral and economic
ideal.
§  Individuals should compete freely in
the marketplace.
§  The market was not man-made or
invented.
§  No room for government in the
market!
3 9/15/14 Big Business
–
™  Industrialists and business leaders used horizontal and vertical
alignment to reduce competition and expand their companies
™  Reduction of competition led to the creation of monopolies and
trusts
™  Industrialists
– 
– 
– 
– 
Carnegie
Rockefeller
Morgan
Vanderbilt
™  Referred to as
–  Captains of Industry
–  Robber Barons
™  Socioeconomic divisions widened as industries grew
The Protectors of Our
Industries
–
4 9/15/14 The Bosses of the
Senate
–
The Robber Barons of the
Past
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5 9/15/14 2. Social Darwinism in
America
–$  Individuals must
have absolute
freedom to struggle,
succeed or fail.
William Graham Sumner
Folkways (1906)
$  Therefore, state
intervention to
reward society and
the economy is
futile!
New Type of Business
Entities
2.  Trust:
§  Horizontal Integration à John D.
Rockefeller
§  Vertical Integration:
o  Gustavus Swift à Meat-packing
o  Andrew Carnegie à U. S. Steel
6 9/15/14 New Type of Business
Entities
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The Gospel of Wealth:
Religion in the Era of Industrialization
–
$  Wealth no longer
looked upon as bad.
$  Viewed as a sign of
God s approval.
$  Christian duty to
accumulate wealth.
$  Should not help the
poor.
Russell H. Conwell
7 9/15/14 Modern Robber
Barons ??
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Activity
–
™ Today you will read
the article summery
over the Industrial
changes in the US.
–  Summarize your
notes from the
reading and then
answer the questions.
–  You’re to o answer the Who, What,
When and Why for the following
terms :
–  Gross National Product
–  Manufacturing Process ( 3 Parts )
–  Laissez Faire
–  entrepreneur
–  Morrill Tariff
–  Technology
–  Alexander Bell
–  Edison
–  Lowe
–  Swift
8 9/15/14 Thursday & Friday
–
“Far & Away”
Focus from the movie from the time they leave Ireland to the Land
grab.
Essential Question over the movie
™ What can be learned
about Immigration and
the growth of cities in
the United States during
the 1890’s from the film
“Far and Away”?
2 day video with
Worksheet
“Far and Away”
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