HIST 2112- The United States created time zones for railroads in the 1880s- Railroads were the first corporations in Americao Had to had a standard time to keep things running smoothlyo Especially when you have people and cargo who need to travel quickly- Once reconstruction is over, industrialism is the most important event from the 1870s to the 1920s- Carnegie Steel (Homestead, Pennsylvania) is the largest company in 1900 with 20,000 employees and $40 million profit a year- Steel (made cheaply) made the industrial revolution possibleo Created jobs and buildings for these jobs- Andrew Carnegieo Father was a hand weaver who lost his job to industrialistso Andrew goes to work as a bobbin boy; changing out the spoolso Then went to work for the railroads Learned how to run a modern corporation in the railroads Became incredibly skilled Efficiency expert ‘If you take care of efficiency, profits take care of themselves’o Realizes steel is the key to becoming an entrepreneuro Young and needs money to build his first factory Was loaned a lot of money from friends he made in the railroad industryo They discovered large deposits of iron and coal Benefit of resources for useo Many people were coming into America through Ellis Island Benefit of immigrants for cheap labor- Business and corporal techniques are embedded in this periodo Work on efficiency for businesses- Monopoly – control 100% of the supplyo The ultimate goal for business owners- Price fixo Set a permanent price for all the business owners and agree not to go below it so they can each gain profit without too much competition- Its helpful to have a government like the Republican party who is pro-industrialization and pro-industryo Republican party was efficiency based and all about making moneyso industrialization was a dream for them- Supreme Court ruled that a corporation was a person under the 14th Amendment to the Constitutiono As people they have rightso Hard to control them and regulate their freedom- Social Darwinism is the Manifest Destiny of Industrialism- William Sumner measured the fitness of people by their financial standing- Carnegie didn’t believe in thiso He was born poor and rose to wealtho Being born poor doesn’t mean you are unfito The fit, though, will rise from any situation to wealth- Gilded Ageo Gilded – golden on the outside but rotten on the insideo Written by Mark Twain Believed their was something wrong with what was going on- Carnegie traveled with his mother around the world and then he donated all of his money; he gave it awayo He was big into philanthropy- Was industrialism a good or bad thing? Did the gains outweigh the
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