period vi: 1865-1898 part 3: industrial supremacy
Post on 06-Jun-2022
3 Views
Preview:
TRANSCRIPT
PeriodVI:1865-1898Part3:IndustrialSupremacy
EconomicTransformation• Newtechnologies• Newformsofcorporateorganiza4on• Waveofimmigra4on–cheapandabundantlaborforce• VastnaturalresourcesoftheUS
NewTechnologies• Newsteelproduc4ontechniques• Bessemerprocess• westernPAandeasternOH
• Newtransporta4on• Steamfreighters,railroads
• PetroleumIndustry
NewTechnologies• Automobile• PerfectedbyHenryFord–appliedassemblylinetechniqueandinterchangeableparts
• Airplane• WilburandOrvilleWright
NewTechnologies• CorporateResearchandDevelopment• Transforma4onofhighereduca4on–receivedfundingfromcorpora4ons
• Changesinproduc4ontechniques• “Taylorism”–ledtomovingassemblyline
NewTechnologies• Railroadexpansion• Principalformoftransporta4on• Gaveaccesstorawmaterialsandmarkets• Ledtogrowthofotherindustries• Developmentof“standard4me”and4mezones
• CorneliusVanderbilt
Corporations• Emergenceof“modern”corpora4ons• Financethroughsaleofstock–“limitedliability”• Onlyriskamountofinvestment
• Steel–AndrewCarnegie,HenryClayFrick• Ver4calIntegra4on• CarnegiesoldintereststoJ.P.MorganformingU.S.Steel
Corporations• HorizontalIntegra4on• Combinefirmsinvolvedinsameenterpriseintoonecorpora4on
• Ver4calIntegra4on• Takingoverdifferentbusinessesonwhichacompanyreliedforitsprimaryfunc4on
• UsedbyJohnD.Rockefeller–StandardOilCo.
TrustandHoldingCompany• “Trust”• Stockholdersandindividualcorpora4onstransferstockstoasmallgroupoftrusteesinexchangeforsharesinthetrustitself
• “Holding”Company• Centralcorporatebodythatwouldbuyupstockoftrustandestablishdirectownershipofcorpora4onsinthetrust
• CONSOLIDATIONisthetheme• 1%ofcorpora4onscontrol33%ofmanufacturingbyendofnineteenthcentury
CapitalismandControversy• Mythofthe“self-mademan”–manytycoonsbegancareersfromposi4onsofwealthandprivilege
• Ruthlesscorrup4onprevalent• Poortreatmentofworkers,briberyofpoli4cians,blackmail
SocialDarwinism• “SurvivaloftheFi\est”• Richesseenasarewardforworthiness–hardwork,thri],skill
• Jus4fica4onforstatusquo• Jus4fiedelimina4onofcompe44on
• TheGospelofWealth:AndrewCarnegie• Believedwealthyhadobliga4ontosocialprogress–philanthropy
• Waswealthavailableforeveryone?• RussellConwell,Hora4oAlger:“ragstoriches”stories
ProblemsofMonopoly• Controlofmarketbylargecorporatecombina4ons• nocompe44on• Blamedforar4ficiallyhighprices• Unstableeconomy• Threatenedabilityofindividualstoadvance• Baronslivelivesofluxurywhileothersstruggle
ImmigrantWorkForce• Mexico,Asia,Canada,mostlyEurope• 25millionbetween1865and1915
• Shi]fromnorthernandwesternEuropetosouthernandeasternEuropearound1871• Italy,Poland,Russia,Greece,Slaviccountries
• Heightenedethnictensions
WagesandWorkingConditions• $400-$500ayear-$600requiredforminimallevelofcomfort• Li\lejobsecurity• Repe44vetasks–monotonousschedule• 10hoursaday,6daysaweek• Unsafe,unhealthycondi4ons• Nocontroloverlabor
WomenandChildren• Couldbehiredatlowerwages• Twoincomeso]enbecamearequirementforfamilies
• Needforaddi4onalwagesledtohiringofchildren• Earlychildlaborlawswereineffec4ve
TheStruggletoUnionize• Triedtousetechniquesofconsolida4on• Na4onalLaborUnion
• “MollyMaguires”–militantlabororganiza4on• Li\lesuccessinlate1800s
GreatRailroadStrikeof1877• Responseto10%wagecut• Strikersdisruptedrailservice,destroyedequipment,rioted• PresidentHayesusedfederaltroopstosuppress• Firstmajor,na4onallaborconflict
TheKnightsofLabor• Firstmajorefforttocreateagenuinelyna4onallaborunion• Membershipopentovirtuallyallworkers• Metwith“localassemblies”looselyaffiliatedwithna4onal“generalassembly”
• Disappearedaroundtheturnofthecentury
TheAFL–AmericanFederationofLabor• LedbySamuelGompers• Representedmainlyskilledlaborers• Opposedtofemaleemployment–s4llsoughtequalpay• Wantedagreatershareofcapitalism’srewardsforworkers
HaymarketSquare-Chicago• Partofgeneralstrike–strikehadalreadybegan• Policeorderedcrowdtodisperse–bombthrownintopoliceforma4on• Policefiredintocrowd–killedfour
TheHomesteadStrike-1892• AmalgamatedAssocia4onofIronandSteelWorkers• Deniedrighttonego4atebyCarnegieandFrick
• Constantwagecuts• Amalgamatedcalledforstrike• FrickshutdownHomesteadplantandbroughtin300PinkertonDetec4vestoprotect“scabs”• Ledtooutbreakofviolence
ThePullmanStrike-1894• PullmanPalaceCarCompany• Slashedwages,highrentin“companytown”• StrikesupportedbyAmericanRailwayUnion–EugeneDebs• 2,000troopssenttoquellstrikers
Labor’sWeaknesses• Fewvictoriesforlabor• Onlyasmallpor4onofworkersrepresentedbyunions• Shi]ingnatureofworkforce–workermobility• Corpora4onsweretoostrong
top related