HIST 2112 The United States created time zones for railroads in the 1880s Railroads were the first corporations in America o Had to had a standard time to keep things running smoothly o 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 possible o Created jobs and buildings for these jobs Andrew Carnegie o Father was a hand weaver who lost his job to industrialists o Andrew goes to work as a bobbin boy changing out the spools o 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 entrepreneur o Young and needs money to build his first factory Was loaned a lot of money from friends he made in the railroad industry o They discovered large deposits of iron and coal Benefit of resources for use o Many people were coming into America through Ellis Island Benefit of immigrants for cheap labor Business and corporal techniques are embedded in this period o Work on efficiency for businesses Monopoly control 100 of the supply o The ultimate goal for business owners Price fix o 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 proindustrialization and pro industry o Republican party was efficiency based and all about making money so industrialization was a dream for them Supreme Court ruled that a corporation was a person under the 14 th Amendment to the Constitution o As people they have rights o 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 this o He was born poor and rose to wealth o Being born poor doesn t mean you are unfit o The fit though will rise from any situation to wealth Gilded Age o Gilded golden on the outside but rotten on the inside o 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 away o He was big into philanthropy Was industrialism a good or bad thing Did the gains outweigh the costs
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