HISTORY 2 - CHAPTER 16 60 SECOND CRAM

BIG PICTURE OF CHAPTER 16

CIVIL WAR → INDUSTRIAL GROWTH → BIG BUSINESS → WEALTH → WORKER HARDSHIP → LABOR CONFLICT

WHY INDUSTRIALIZATION GREW

TECHNOLOGY + TRANSPORTATION + RESOURCES + WORKERS = INDUSTRIALIZATION GROWTH

RAILROADS

CONNECTED REGIONS + NATIONAL MARKET CREATION + MOVED RAW MATERIALS / FINISHED GOODS + STIMULATED STEEL, COAL, TIMBER, AND LABOR

CORPORATIONS

RAISED LARGE AMOUNTS OF CAPITAL BY SELLING STOCK → MADE LARGE-SCALE BUSINESSES POSSIBLE

CARNEGIE

OIL → STANDARD OIL → HORIZONTAL INTEGRATION → COMBINED / CONTROLLED COMPANIES AT THE SAME LEVEL / WITHIN SAME INDUSTRY

TRUST

MANY COMPANIES → ONE BOARD OF TRUSTEES → GREATER CONTROL + LESS COMPETITION

WORKERS

LONG HOURS + LOW WAGES + DANGEROUS MACHINERY + UNSAFE WORKPLACES + LITTLE JOB SECURITY

CHILD LABOR

CHILDREN WORKED IN DANGEROUS / DEMANDING INDUSTRIAL JOBS → SHOWED HUMAN COST OF INDUSTRIALIZATION

LABOR ORGANIZATIONS

WORKERS ORGANIZED COLLECTIVELY → HIGHER WAGES + SHORTER HOURS + SAFER WORKPLACES + GREATER SECURITY

LABOR CONFLICT

POOR CONDITIONS → ORGANIZATION → STRIKE → EMPLOYER RESISTANCE → GOVERNMENT INVOLVEMENT / SUPPRESSION

CARNEGIE

STEEL + VERTICAL + GOSPEL OF WEALTH

ROCKEFELLER

OIL + STANDARD OIL + HORIZONTAL

CORPORATION

STOCK → CAPITAL → LARGE BUSINESS

TRUST

MANY COMPANIES → ONE CONTROL GROUP

RAILROADS

NATIONAL MARKET

MASTER CHAIN

RAILROADS → CORPORATIONS → CARNEGIE / ROCKEFELLER → TRUSTS → WEALTH → WORKER HARDSHIP → LABOR ORGANIZATION → STRIKES