CPUSH
10 November 2015
EQ: Compare/contrast John D. Rockefeller and Andrew
Carnegie.
Agenda:
-Expansion of American Industry
Notes Cont.
You will need 1 piece(s) of paper
To Do:
-Annotated Bibliography 5
Secondary Sources to
Turnitin.com: 11/13 (Friday)
John D. Rockefeller (1839-1937)
■
■
■
■
American Industrialist and
Philanthropist
Creates Standard Oil in
1870
By the end of the 1870s
controls 90% of the
kerosene refineries in
America
Donates millions to the
Church and founds the
University of Chicago in
1900
Andrew Carnegie
(1835-1919)
■
■
■
Scottish-American Industrialist
and Philanthropist
Works his way from a
telegraph operator to
superintendant of the
Pennsylvania Railroad
Company
Forms the Keystone Bridge
Company to build the first
major railroad bridge across
the Mississippi River using
steel
Andrew Carnegie
(1835-1919)
■
■
■
Realizes that steel is the
building component of the
future and invests heavily
in it creating the Carnegie
Steel Company
The Gospel of Wealth
(1885)
1901-1919
❑
Donates over $350,000,000
to over 3,000 libraries,
music halls, workers
pensions, colleges and
universities, etc.
The Gospel of Wealth
"This, then, is held to be the duty of the man of wealth: first, to
set an example of modest, unostentatious living, shunning
display or extravagance; to provide moderately for the legitimate
wants of those dependent upon him; and after doing so to
consider all surplus revenues which come to him simply as trust
funds which he is called upon to administer, and strictly bound
as a matter of duty to administer in the manner which, in his
judgment, is best calculated to produce the most beneficial
results for the community -- the man of wealth thus becoming
the mere agent and trustee for his poorer brethren, bringing to
their service his superior wisdom, experience, and ability to
administer, doing for them better than they would or could do for
themselves."
Vertical and Horizontal Integration
Mergers and Trusts
Resources
Raw materials,
fields, forests, and
farms
Manufacturing
Production and
processing
Distribution
Shipping and
transportation,
delivery to
customers
EQ: How did the theory of Social
Darwinism promote social, economic,
and political inequalities?
■What does “survival of the fittest” mean?
Social Darwinism
■
■
■
Social Darwinism is a theory that competition among all
individuals, groups, nations or ideas drives social evolution in
human societies.
Advocated by Herbert Spencer
■ Bastardization of Darwin’s theory of evolution
Justified political conservatism, imperialism, and racism
❑ Discouraged intervention and reform
Social Darwinism
■
■
Eugenics, racism, imperialism, fascism, Nazism, etc.
■ Struggle between nation and racial groups
Survival of the wealthiest, most powerful
Social Darwinism
■
Laissez-faire Economics:
■ economic system in which transactions between private
parties are free from government interference such as
regulations, privileges, tariffs, and subsidies
■ Translates: “Let do”
Social Darwinism: Political/Economic
Concepts
■
Capitalism:
■ an economic system
■ All, or most of, the means of production are privately
owned and operated
■ Investment of capital,_the production, distribution, and
prices of commodities (goods and services) are
determined by a free market
■ Examples?
Social Darwinism: Political/Economic
Concepts
■
Socialism:
■ state ownership of common property, or state ownership of
the means of production
■ Examples?
Social Darwinism: Political/Economic
Concepts
■
Communism:
■ Community ownership of property, with the end goal being
complete social equality via economic equality
■ All labor belongs to the individual laborer; no man can own
another man's body
■ Must first reach industrialist capitalist society before
reaching communism
■ Examples?