Top Banner

Click here to load reader

of 11

Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
  • 1. Spat Chat
    Industrialists and Big Business

2. Setting the scene
America..late 1800s early 1900s.
Expansion of industry changed the economic, political and social landscape of our nation
Individuals responsible for this change were powerful businessmen called industrialists
Some believe they made their fortune off of questionable business practices
Others believe they were captains of industry who served their nation positively
3. Types of Big Business
Monopoly- a company that controls most or all business in a particular industry
Corporation- businesses owned by many investors who bought stock
Trust- a group of corporations run by one single board of directors
4. Andrew Carnegie
Started as a poor Scottish immigrant
Worked his way up in the railroad business, and then entered the steel industry
Carnegie Steel Company
Gained control of every step in making steel
Allowed for steel to sell at low prices, getting more buyers
5. John D. Rockefeller
Son of a peddler
Invested in oil refinery and used profits to buy other oil companies
Did not hesitate to crush competitors
1882 created the Standard Oil Trust made up of 40 companies
6. Sherman Anti-Trust Act
Created in 1890
An attempt to limit the influence a single business could exert over an entire industry
Outlawed any collection of companies that restricted interstate trade
Designed to bring back competition
7. 8. J.P. Morgan
Wealthy American financier and banker
Consolidated smaller companies into larger ones.
Created J.P Morgan & Co. in 1871
Bought stock in troubled corporations
9. Henry Ford
Founded the Ford Motor Co. in 1903
Revolutionized industrial production by using a moving assembly line
Assembly line- manufacturing process where things areadded in a sequential order
Fords Model T car was the first affordable car
10. Samuel Gompers
Union Leader
Labor Union- Looked out for the workers best interest
Formed the American Federation of Labor in 1886
AFL and Gompers organized workers so they could negotiate shorter working hours, better wages, and improved conditions
11. Donald Trump
One of the worlds most successful businessmen of our time
Wealthy American real-estate investor
Also known for his reality television show The Apprentice