Week Three Outline Industry and Labor (1) - Outline...

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Outline: Industrialization and LaborIndustrial Growth after the Civil WarI.Rise of Big Businessa. Four characteristics of Big Businessi.Large capital investmentii.High fixed costs – this contributes to a long period of deflation (when prices drop). Risks of economy going into a tailspin by laying people off iii.Multi-sited and diversified – Businesses have buildings in diff locations w/ diff purposes. This contributes to “The Decline of Island Community Life in America” or “Decline of Small Town”.iv.Vertically integrated - Purchase of Companies at All Levels of Production. For example: The Ace Meat Industries own the delivery wagons down to the meat packing plants down to the cooled warehouses down to the refrigerated railroad cars down to the slaughterhouse down to the cattleb.Helped end isolation of island communitiesc.Created new sources of economic and political powerd.Created new middle class of middle managers, engineers and corporate lawyerse.Changed the nature of opportunity in Americaf.**What does democracy mean under these new conditions of corporate power and wage labor: A lot of people won’t be able to create independence for themselves under these new lawsg. 4 Factors Contrbuting to Industrial Groeth and the Rise of Big Businessesi.Urban Growth –ii.National Transportation Network – Railroadsiii.National communications network - Telegraphiv.Technological advances
h.Importance of Railroadsi.Opened up the Westii.National marketiii.Created own demand for steel, machines and equipmentiv.New organizational structuresv.New forms of financevi.New methods to control marketsvii.Symbolized the evil of corporate monopoly – they

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