Chapter 20 - Industry

Railroads and the Steel Industry

Vanderbilt

Railroads and the Economy

• Benefits?

• What is a gauge and why does it need to be standard (the same everywhere?

Steel Industry - problems

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Oil Company #1 Oil Company #2 Oil Company #3

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Oil Field Oil Refinery Railroad

Corporation

• Less risk

• What does a corporation do with the money that the investors give them?

• What does an investor get?

Competition

1. What did Rockerfeller think about competition?

2. What do you think about it?

Edison – goals and work ethic

Ford and the Assembly Line

Cars

• What were some problems consumers faced?

• Safety• Driving instruction• High prices

• How were each of these overcome?

Wright Flyer vs. balloon for military use

Why join a Union?

• Better benefits – health insurance• Fair pay• To be heard!

AFL vs. Knights of Labor

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Carpenter’s Union Autoworkers Union

Garment Workers Union

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Harry Fred George