THE GILDED AGE

THE GILDED AGE

American Industry 1866-1914
1. "The Second Industrial Revolution"
2. By 1880, a majority of the working class DOES NOT work in agriculture
  1. By 1914, 2/3 of Americans work for someone else
    1. Urbanization
3. Immigrants flood cities
4. New York becomes financial capital
5. Chicago makes farming more efficient
6. Pittsburg becomes the steel manufacturer capital
7. RR begin to go east and west
Captains of the Industry/Robber Baron
1. Jay Could
  1. Works as a leather-tanner
  2. Began inventive in the RR even though he is poor
    1. Bribed officials
  3. Crashed the stock market
    1. Black Friday
    2. $77 million fortune
2. Andrew Carnegie
  1. Worked in a textile factory
  2. Invested little $$ into RR
  3. Turned Pittsburg into steel capital
  4. Steel plants
    1. Runs two 12 hr shifts everyday
    2. Workers want a higher pay
3. John D. Rockefeller
  1. Richest man in the world
  2. Started out working in produce then worked in the oil industry
    1. Took over the industry
      1. Buys out all the competitors
        Monopoly
Business and Politics
1. Sherman Antitrust Act of 1890
  1. Bust up unions for 10 years
2. EC Knight Co.
  1. Controls 80% of sugar monopolies
3. White Collar and Blue Collar Work
  1. Middle class specialists and professionals
  2. Mechanization and blue collar work
    1. Workers become less important
      1. Less bargaining power
  3. Fredrick Winslow Taylor
    1. "Scientific Management"
  4. Poor working conditions and wages
4. Workers' Economic Uncertainty
  1. Severe economic depression
    1. 1873-1878
      1. Great Depression
    2. 1893-1897
  2. Women and children in the work place have low wages
    1. Children risk losing limbs
5. Workers Fight Back
  1. Great RR Strike of 1977
    1. Wages are cut the same as hours
    2. First major strike of the nation
  2. Unions
  3. Knights of Labor
    1. First big national union
      1. Alternative to capitalism needs to be found
  4. Chicago's Haymarket Square
    1. May 1886
  5. Pullman Strike of 1894

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