ICL The emergence of corporate america 1865-1900

ICL The emergence of corporate america 1865-1900 - In Class...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: In Class Lecture History The Emergence of Corporate America 1865-1900 Development of industrial systems o Industrial system: Orderly arrangement or process of extraction, protection, transportation, distribution, or finance that enables an entire industrial order to function smoothly. Technology Innovations- were stepping stones of industrialization Effects of industrialization: US transformed from agrarian republic with merchants to strongest economic and industrial nation in the world (1890) Natural resources and industrial technology o New technologies increased scale and efficiency of using Americas vast natural resources Examples Steel industry: Bessermer Process converted much larger qualities of iron into steel Petroleum industry: able to transform crude oil to kerosene oil and new lubricants for machinery Environmental impact o Contaminated waters, pollutants depleted land resources Systematic Invertion o Role of inventions Thomas A Edison Light bulb George Eastman Kodak Rise of research labs Democratization effects o Can put a factory pretty much any where o Everyone can use these products Transportation and Communication o Need for transportation system to interconnect national markets Railroads and steamships o Importance of information Telegraph: Samuel Morse (1844) Telephone: Alexander Graham Bell (1876) 1950-1 st transcontinental phone line Role Corporation o Robber Barons vs. Captains of industry o Importance of entrepreneurs o Advantages of modern corporation Raise large amounts of capital by issuing stock Perpetual like of the corporation Limited liability Separation of owner from managers o White Collar is management Age of Monopoly o Strategies of growth The pool Horizontal combinations Vertical integration Owns each stage of production Favorable government policies Protested tariffs Laisses-faire principle o Not much government interference o Natural Monopoly Electric company o Olopopoly- a few o Andrew Carnegie o J. Edgar Hoover (1875) Took advantage of business cycles Bought up the business Hired highly skilled managers Minimized costs to undersell others Lower cost so much so they arent making a profit...
View Full Document

Page1 / 12

ICL The emergence of corporate america 1865-1900 - In Class...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online