Business_and_Government_Policy - BIG BUSINESS &...

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LECTURE OUTLINE 1. Growth of Big Business a key theme in late 19 th century America. a) Evident in statistics. b) Evident in expressions: Horatio Alger and rags to riches; Robber Barons and Captains of Industry; Gilded Age . -Gilded Age (Mark Twain’s book was very satirical) -Gilding – posed as a “coat” for something. It hid the inner. 2. Examine how businesses got big. 3. Examine government response to the growth of big business and the demands of some Americans for reform and regulation. HOW BUSINESSES GREW 1. Industrial innovations: a) modernized production methods b) new forms of business organization 2. Two patterns of industrial development: a) Vertical integration: Examples of meatpacking (Gustavus Swift) and steel (Andrew Carnegie) GUSTAVA SWIFT (MEATPACKING) -Vertical integration – ladders of production – lowest rung is extractive (removing it). Middle rung – processing – business man. The top rung is distribution – advertising and servicing. -Before the 1870’s there was a pork servicing place. They distributed over long distances. They didn’t do this with beef. They shipped live cattle on cargo trains to the destination where they would be slaughtered and bought as meat. -Gustav - if you killed the cattle at the union stock and then package it. You could ship more beef on the rail cars and at the same time you would be saving money. -Swift was a buyer in the meat concern. He wanted his own business. He later then formed his own business in Chicago in 1878 (the Swift Company). -Swift wouldn’t ship cows on the hoof. He had his own refrigerated rail. Therefore he could use his own rail cars and put more on the cars. He could then sell more at its destination. They also needed refrigerated houses/warehouses. He pissed everyone off trying to do his own thing (rail
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This note was uploaded on 04/12/2011 for the course HIST 152 taught by Professor Staff during the Fall '08 term at Purdue University-West Lafayette.

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Business_and_Government_Policy - BIG BUSINESS &...

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