dThe Rise of Industry Part I: The Intellectual Underpinnings of Industrialization – Read the following documents and answer the questions below. Document A (Adam) Smith was among the first to make a clear and convincing case that when individuals follow their own self-interest‚ it automatically works to the benefit of society as a whole. As individual competitors pursue their own maximum profit‚ they are thus forced to be more efficient. This results in cheaper goods in the long run.
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will help you figure out how to do that. Sample Question (DBQ #7 in back of text): Historians have often portrayed the capitalists who shaped post-Civil War industrial America as either admirable “captains of industry” or corrupt “robber barons.” Evaluate which of these descriptions – “captains of industry” or “robber barons” – is a more accurate characterization of these capitalists. Use these documents and your knowledge of the period 1875-1900 to compose your answer. Sample Thesis: Because
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Pacific Land Grants Power – natural monopolies: Vanderbilt Industrial stimulation Corruption: stock watering‚ rebates‚ pools Regulation – Wabash case? Interstate Commerce Act (1887) Captains of Industry (Robber Barons) Carnegie – steel (Bessemer process) – “vertical integration” Rockefeller – oil – “horizontal integration” Morgan – banking – “interlocking directorates” – buys out Carnegie for $400 mil.‚ US Steel “The American Beauty Rose can only be grown by sacrificing the early
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Dr. Newcomer US History 2020 Study Guide: Exam One Format: The exam will consist of twenty five multiple-choice questions (worth two points each/50 total)‚ ten matching questions (worth two points each/20 total)‚ and fifteen identifications (worth two points each/30 total). SAMPLE MULTIPLE CHOICE: Each of the multiple choice questions will ask you to identify the significance of an event or issue by completing the sentence. They will cover material from the lectures. Mark Twain referred
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By buying out stock‚ building the Albany Bridge blockade‚ and restricting his competitors‚ Vanderbilt became the wealthiest man in America. By the end‚ he owned over 40% of trail lines‚ symbolizing his power. A forthcoming competitor‚ John D. Rockefeller‚ was making his name in oil refinery. His Standard Oil knocked Vanderbilt off his title as the richest man. This ruthless corporation supplied tons of homes with kerosene lighting‚ built 40‚000 miles of oil pipelines‚ and stunned top competitors
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The Effects of Industrialization on U.S. Society from 1865 - 1900 In 1865‚ America was just coming out of the period of Reconstruction following the damaging Civil War‚ and by the early 20th century‚ it was on the brink of the first World War. In between those events‚ the Second Industrial Revolution‚ also known as the Technological Revolution‚ occurred. It was marked by advancements in mechanization that made manufacturing more effective‚ and in turn made industrialization more widespread. This
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The Gilded Age * During the Gilded Age‚ American businesses were transformed: * Massive corporations replaced small‚ family businesses * New technology‚ transportation‚ marketing‚ labor relations‚ & efficient mass-production * By 1900‚ the U.S. was the most industrialized country in the world * 19th-century inventors led to an “Age of Invention”: * Cyrus Field’s telegraph cable * Business typewriters‚ cash registers‚ adding machines * High-speed textile
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In the late 19th and early 20th centuries‚ the United States of America was still young and had little experience with controlling business. There were no government regulations or laws of business put in place yet‚ so businessmen found ways to keep all of the company money to themselves and profit from the exploitation of unskilled laborers. They created monopolies that controlled entire industries. Thus‚ business leaders soon dominated not only the US‚ but the whole world‚ as well. Unchecked power
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The four businessmen‚ three of which were corrupt‚ who developed industrial America were littered with corruption and ruthless business tactics. Morgan was far more reputable in comparison to Andrew Carnegie‚ Cornelius Vanderbilt‚ and John D. Rockefeller. He was not only a brilliant businessman‚ but he used his capital for the bettering of the country as a whole. John Pierpont Morgan used his intellect and fortitude to navigate through the modernizing period of America‚ and with his resources and
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Guide - Test #1 23 Sept 2013 Chapter 16: What was the 1st major big business in America? What allowed American industry to rapidly expand? Laissez-Faire Vertical Consolidation vs. Horizontal Consolidation How did Andrew Carnegie and John D Rockefeller create their industries? Wabash‚ St. Louis & Pacific Railway v. Illinois Santa Clara County v. Souther Pacific Interstate Commerce Commission Sherman Anti-Trust Act Working conditions and Child Labor during the Gilded Age The Great Uprising
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