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11 Cards in this Set
- Front
- Back
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28 - JOHN D. ROCKEFELLER |
- Robber Baron and philanthropist who created Standard Oil Company and Standard Oil Trust
- Standardized the oil industry by controlling almost all US oil refining and distribution as well as much of world’s oil trade - Had iron fisted rule and aimed for world progress and industrialization even if humanity had to suffer a little |
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28 - ANDREW CARNEGIE |
- Robber Baron and philanthropist who Invested in iron for RR tracks and later invested in steel
- Built Carnegie Steel Company in Pittsburgh and later sold it for $480 million - Created “loss leader” - selling things below price of cost to make so consumer becomes dependent on products created to support the original |
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28 - JP MORGAN |
- Robber Baron and philanthropist whose company (JP Morgan Company) became leader in financing American businesses
- Invested in western RR’s and controlled every single RR west of Mississippi within 3 years - Bailed out US government, sold government bond issue to keep US Treasury from collapsing and loaned $ to keep banks from closing -Hitler said JPM was father of modern fascism |
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28 - LOSS LEADER |
- Selling things below price of cost to make so consumer becomes dependent on products created to support the original
- Created by Andrew Carnegie |
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28 - MONOPOLISM |
- Idea is to control apparatus by placing power in the hands of a few oligarchical leaders of business
- Another name for capitalism |
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28 - SOCIALISM |
- System to manage capital with government regulations (anything worth selling or owning is controlled by or owned by the government)
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28 - DISCUSS SOME OF THE BENEFITS AND SOME OF THE PROBLEMS RESULTING FROM THE RISE OF INDUSTRIALISM. - PART 1 OF 2 |
1. Benefit = DISTRIBUTION OF CONSUMER GOODS
Suddenly people needed things that didn’t even exist until recently. 2. Benefit = WIDESPREAD EMPLOYMENT Jobs were available in cities, so much of the population moved to cities. (Working conditions were not great - workers lived in poor housing while owners lived in splendor.) |
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28 - DISCUSS SOME OF THE BENEFITS AND SOME OF THE PROBLEMS RESULTING FROM THE RISE OF INDUSTRIALISM. - PART 2 OF 2 |
3. Problem = POLLUTION, CONGESTION, AND DISRUPTION OF LIFE
Cities crew and there was pollution and congestion. There were pockets of multigenerational poverty in the cities 4. Problem = FAMILY DISINTEGRATION Families didn’t stay rooted or hold together. People became more mobile and families spread apart |
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28 - DISCUSS IN A PARAGRAPH OR TWO THE INCREDIBLE CHANGE EXPERIENCED BY PEOPLE LIVING DURING THE 19TH CENTURY. INCLUDE TECHNOLOGICAL ADVANCES, EMPLOYMENT CHANGES, RESIDENCE CHANGES... - PART 1 OF 3 |
1. Industrialization changed the world overnight. There was vast disbelief at the change in technology. (More technology in last 100 years than in previous 1800 years.)
2. The 19th century saw the development of bicycles, railroads, roller skates, telephones, cotton gins, sewing machines, typewriters, motion pictures, and more. |
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28 - DISCUSS IN A PARAGRAPH OR TWO THE INCREDIBLE CHANGE EXPERIENCED BY PEOPLE LIVING DURING THE 19TH CENTURY. INCLUDE TECHNOLOGICAL ADVANCES, EMPLOYMENT CHANGES, RESIDENCE CHANGES...
- PART 2 OF 3 |
3. In just 50 years, half of the country moved from the country to cities
4. Cities needed to be transformed to support population - sewage, housing, electricity, etc. |
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28 - DISCUSS IN A PARAGRAPH OR TWO THE INCREDIBLE CHANGE EXPERIENCED BY PEOPLE LIVING DURING THE 19TH CENTURY. INCLUDE TECHNOLOGICAL ADVANCES, EMPLOYMENT CHANGES, RESIDENCE CHANGES...
- PART 3 OF 3 |
5. Industrial jobs increased dramatically and 75% of jobs became part of industrial apparatus
6. People began to buy into private enterprise system, but had less private property than before (owned by banks, insurance companies, etc.) |
