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Professor Truax
Unit 2: Economic and Social Change
Chapters Covered
1
Chapter 16: Big Business and Organized Labor 1860 - 1900
AGENDA
2
Chapter 18: Society and Politics in the Gilded Age 1865 - 1900
Chapter 20: The Progressive Era 1890 - 1920
3
Workers and employers both experienced rapid change as the Industrial Revolution
transformed the United States from a primarily agricultural nation to the world’s foremost industrial power.
We will examine the causes and effects of these changes.
Chapter 16
Chapter 16
Resources
Causes
Natural Resources
Natural Resources
Human Resources
Human Resources
Other Factors
Other Factors
Government Involvement
*Railroads, land grants, loans
*High tariffs
*Inaction
Other Factors
Other Factors
Downsides:
Unchecked power in the hands of few vs. republican values
*Bribery, price gouging,
exploitation, stock manipulation, shoddy construction, unsafe
conditions
Reformers: regulate hours, income tax, safety
conditions, wages, cutthroat business practice
Modern Business Practices: *Incorporation, trusts
stocks, raising capital,
buying out, limited
liability, boards and
professional managers
*Standardization: time
zones, standard gauge
Railroad advantages: faster, not restrained, benefitted economy, drove other industry
Scores of small companies in 1865 were
transformed into seven large companies by 1900
Robber Barons vs. Captains of Industry
Effects
Andrew Carnegie:
Cost control, Bessemer-Kelly Process
Vertical Integration and Horizontal Integration
Slashing prices, secret deals
John D. Rockefeller
Effects
Conflicting Visions
Unprecedented material wealth and progress.
Immense power for big business and corporations.
Increasing poverty among workers.
Creation of unions, striking, and workers’ rights.
Reformers Respond
https://aflcio.org/about/history