Industry and Labor in Late 18th Century America

Topics: Trade union, Industrial Workers of the World, Industrial unionism Pages: 3 (809 words) Published: March 20, 2011
Rags-Riches: The idea that anyone can come to America to follow the American Dream. They can be a person that has nothing at one point in their life to become a person that is super rich. Get money, get paid. Example would be Carnegie being inexperienced and then owning Carnegie hall and like everything. Captains of Industry: During the days of the American Industrial evolution, names such as Carnegie, Morgan and Rockefeller regularly appeared in leading newspapers around the country. These were family dynasties that literally cornered the market on essential industries, including railroads, iron ore and coal. If the industrialist in question used his political and corporate influence for his own selfish ends, he could be described as a robber baron. If the same powerful industrialist used his wealth to improve the lives of others or to bolster the economy in a positive way, he could just as easily be designated a captain of industry. The big business leaders during the time: the "Big Four" who were J.P. Morgan, Andrew Carnegie, Andrew Mellon, and John Rockefeller. - Andrew Carnegie - Scottish immigrant, who opened steelworks in Pittsburgh 1873, became super rich. 1901sold steel interests to U.S. Steel Corporation & became a philanthropist. Established Carnegie Hall & libraries & other charity stuff. Robber Barons: Another name for the Captains of industry, except it's a derogatory term. Basically means that the Big Four, and all those who went from "rags to riches" did so because of the workers, who got nothing in return for their hard work. Essentially stepped on the little guys and used their workers to gain money and status. Capitalism/Darwin: The theory that in nature, only the fittest survived so it should be the same in the marketplace, it was justification for many businessmen as scientific proof of their superiority Survival Fittest: The people in the high class believed that they deserved their and the poor people deserved their...
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