Gilded Age Economics Slideshow

Late 19th Century Industrialization in the US Brainstorm - 2˚
What “factors of
production”
existed in the US
during the late
19th Century that
helped cause a 2nd
“Industrial
Revolution”
possible?
-
Demand for products like gold.
Infrastructure: railroads, mines, etc.
Government policies: tariffs, international trade, few regulations on businesses, land grants
Raw materials: iron ore, coal
Lots of available workers: immigration (Asia, Latin America, Eastern Europe)
Abundant investment capital
How did the US
benefit from
industrial growth
during the late
19th Century?
-
US pays back debt
Surplus
Standard of living improves, and more jobs with higher average wage
More money for education, museums, parks, etc. (cultural)
More products / consumerism
What were some
problems caused
by industrial
growth during the
late 19th Century?
-
Environmental damage: pollution
Class divisions increase
Exploitation of working class: low pay, unsafe, young kids
Exploitation of different minorities
- Appealed to people but there were many problems too
Why is the late
19th Century often
referred to by
historians as the
“Gilded Age”?
Late 19th Century Industrialization in the US Brainstorm - 3˚
What “factors of
production”
existed in the US
during the late
19th Century that
helped cause a 2nd
“Industrial
Revolution”
possible?
•
•
•
•
•
•
Coal and Iron from western mines
More infrastructure for transportation (railroads)
More labor from immigrants (Asia/Eastern and Southern Europe)
Capital (Gold & Silver mined from the West)
Government Policies (Homestead Acts, Land Grants, Low Taxes & Low Regulations)
Advancements in Technology
How did the US
benefit from
industrial growth
during the late
19th Century?
•
•
•
•
•
•
Lower Prices & More “Stuff”
International Trade Increases
Country is getting richer (improved average standard of living)
More jobs
Growing Middle Class
More demand for all types of products
What were some
problems caused
by industrial
growth during the
late 19th Century?
•
•
•
Wealth inequality
Dangerous and boring factory jobs
Conflicts between laborers and owners
•
Good on the surface but not so good on the inside (hidden problems)
Why is the late
19th Century often
referred to by
historians as the
“Gilded Age”?
Late 19th Century Industrialization in the US Brainstorm - 5˚
What “factors of
production”
existed in the US
during the late
19th Century that
helped cause a 2nd
“Industrial
Revolution”
possible?
-
How did the US
benefit from
industrial growth
during the late
19th Century?
-
Lots of money in the Industrial Arena
Job opportunity
Producing mass produced products with machines
Prices go down
More efficacy of products
More of a middle class
What were some
problems caused
by industrial
growth during the
late 19th Century?
-
Mass production leads to somewhat lesser quality
Wage gap between rich and poor
Environmental issues
Discrimination of minorities
Greed/Power
Harsh working conditions Ex: Black lung
Labor disputes
Why is the late
19th Century often
referred to by
historians as the
“Gilded Age”?
-
Natural resources Ex: Gold, iron ore, oil, coal, copper
Immigrants Ex: Asia, Eastern Europe
New land
New innovation Ex: Railroads, electricity
New Inventors: Thomas Edison
Government support “Giving land to railroads” Ex: Homestead Act “Trade with other countries”
Ex: Japan
Low taxes
Growing population
- On the surface looks fantastic with economic growth, but truly underneath
there’s a lot of downside and problems.
Major Economic Trends of the Late 19th
Century - A 2nd American Industrial
Revolution (Chapter 17)
HW: Prep for In-Class Discussion (Block 12/14 or 12/15)
You will be asked to support ONE of these statements:
Late 19th Century business leaders can accurately be labeled
as “Robber Barons” because their actions were contrary to
the founding principles of the United States and detrimental
to the general welfare of American society.
OR
Late 19th Century business leaders can accurately be labeled
as “Captains of Industry” because their actions promoted the
founding principles of the United States and improved the
general welfare of American society.
Notes for Discussion: Consider class brainstorm, text reading, videos and information in
slideshow that could be used to support your side in the Captains of Industry or Robber
Barons discussion. Notes will be collected after discussion on Block Day next week.
or
?
Pages 530-533 Terms: Gustavus Swift, vertical integration, predatory
pricing, John Rockefeller, horizontal integration
Analysis Question: How did corporate leaders expand their control of
markets in the late 19th Century?
Criticism of Rockefellers’ Standard Oil Company
Pages 533-537 Terms: Thomas Edison, Department Stores, Mass
Market Advertising, White Collar Workers, Middle Mangers, Traveling
Salesman, Women Workers
Analysis Question: How did industrial growth in the late 19th Century
impact consumers and white collar workers?
Pages 540-543 terms: Skilled (“Craft”) Workers, Unskilled (“Industrial”) Workers, Mass
Production, Frederick W. Taylor & Scientific Management, Child & Minority Workers
Analysis Question: How did late 19th Century industrial growth impact lesser skilled, blue
collar workers?
Pages 544-549 Terms: “New” Immigration, Ellis Island, “Hunkies”, “Sojourners”,
Chinese Exclusion Act
Analysis Question: What factors influenced the differing experiences of various
immigrant groups in late 19th Century America?
Parallels with the “Gilded Age”?
Pages 549-552 Terms: Trade Unions, Great Strike of 1877, Blacklisting, Yellow Dog Contracts,
Knights of Labor, Haymarket Square bombing, Homestead Strike
Analysis Question: Why did the labor movement grow in late 19th Century America and what
major challenges did workers organizations face?
Pages 554-555 Terms: Closed Shop, American Federation of Labor, Samuel Gompers, “Pure & Simple
Unionism”
Analysis Question: What made the AFL generally successful in meeting the goals of its members, but
unsuccessful in helping the majority of workers in the late 19th Century?
For Review, watch: The Industrial Economy: Crash Course US History #23
https://www.youtube.com/watch?v=r6tRpzRUJs&list=PL8dPuuaLjXtMwmepBjTSG593eG7ObzO7s&index=24
For More Review, Watch: Growth, Cities, and Immigration: Crash Course US History #25
http://www.youtube.com/watch?v=RRhjqqe750A&list=PL8dPuuaLjXtMwmepBjTSG593eG7ObzO7s
Even at the time, Americans were asking if the business leaders of
the age were Robber Barons or Captains of Industry?
Criticism of the Government during the Gilded Age
Block Day 12/14 or 12/15 Discussion
Late 19th Century business leaders can accurately be labeled
as “Robber Barons” because their actions were contrary to
the founding principles of the United States and detrimental
to the general welfare of American society.
OR
Late 19th Century business leaders can accurately be labeled
as “Captains of Industry” because their actions promoted
the founding principles of the United States and improved
the general welfare of American society.