Welcome!Baltimore Polytechnic Institute

October 5, 2011U.S. History

Mr. Green

The students will analyze the impact of the business tycoons by developing a position on the role of the business tycoon

Warm-up Question: Read the following quote,“for they are the bees that make the most

honey, and contribute most to the hive even after they have gorged themselves full”

1. Identify the meaning of the above quote? What is this quote in reference to?

2. What is your reaction to the above quote?

Agenda/Topics To Be Covered

Carnegie’s InnovationsManagement Techniques

Ways to make better products more cheaply

Attracted talented people to his operationBusiness Strategies

Vertical IntegrationHorizontal consolidation

Big Business Emerges Ch. 6 Sec. 3 pgs. 257-261

Principles of Social DarwinismBased on Charles Darwin’s theory of evolutionSurvival of the fittest

A New Definition of SuccessPoor must be lazy/inferiorRiches a sign of God’s favor

Social Darwinism and Business

Growth and ConsolidationThe rise of the oligopolyHolding companies helped mergersTrusts/Trustees

Rockefeller and the Robber BaronsStandard Oil dominated the oil refining businessCut prices then hiked them Philanthropy

Fewer Control More

Sherman Anti-Trust ActPassed to outlaw monopolies/trustsDifficult to enforce due to vague terms

Assignment 1Identify three robber barons and the

companies they headed.Assignment 2Robber Barons or Captains of Industry

Industrialists Workers

Personal gain/losses

Effective business practices

Model for working people

Contribution to society

Read point/counter-point on page 260 and write a 1 paragraph response on your position of the robber barons/tycoons.

Were the leaders of the big trusts ruthless or captains of industry? Explain

Exit Ticket

Read Chapter 6 Section 4Prepare for 5 Question Quiz over Chapter 6

Section 3 and 4Test on Chapters 5/6 on Friday

Homework