Big Business (Monopolies) and Exploitation of Workers From 1870 to the 1900s it was an exciting time. Industrialization, the Gilded Age, and the Progressive era were all within this time. Everything that was happening at the time revolved around big business aka monopolies. Monopolies changed the economy and the generalized way of life for all American citizens. Some highlights were the newfound economical boom, new technology like the telephone, the development of large-scale agriculture, the expansion of the federal government, and social tensions. Monopolies enabled the production of goods more readily available to the generalized population. These goods were typically more affordable and gave birth to the middle class. People were now …show more content…
Big business leaders were “captains of industry”, “shrewd businessmen,” and “robber barons.” The big business leaders used technological evolution to create massive industries that made them some of the wealthiest United States citizens of the time. The three men who were the Giants of Industry and innovation were the steel magnate Andrew Carnegie, oil tycoon John D. Rockefeller, and business financier J. P. Morgan. All three men were businessmen who developed their respective businesses to an extraordinary scale and scope that is unfathomable (OpenStax, 2019). Carnegie, Rockefeller, and Morgan’s companies greatly influenced the growth of the economy and changed the way of life for all …show more content…
Men, women, and children worked under dangerous working conditions that would have caused OSHA to faint. It was not uncommon for factory workers to lose life and/or limbs while around dangerous machinery. decapitations and fingers were not unheard of when working in such factories run by big business barons (U.S. Department of Labor, n.d.). The factories were also unsanitary and led to many getting sick due to the cramped working space. There was no ventilation to enable fresh air to come through, leaving a suffocating environment. In combination with the bad and deadly working conditions, workers were given measly pay. Eventually, the worker's frustration with their treatment led to strikes and demands for better working conditions and increased
Entrepreneurs controlled the Gilded Age creating a growing economy with booming businesses and yet this has not changed over the years. John Rockefeller and Andrew Carnegie can be compared to those with the names Steve Jobs and Bill Gates. Multibillionaires, who know what the consumers desire, is what these men are best at. They knew and now know business well enough to be able to control our country’s’ economy. However, these successful business men do not do it together.
In the novel, “The Tycoons” by Charles R. Morris, he explains how Andrew Carnegie, John D. Rockefeller, Jay Gould, and J.P. Morgan invented the American super economy. In Morris’s novel, he goes in depth of the lives of these men and the experiences that truly made them the group who transformed America’s economy. They transformed the greatest industries of our time: oil, rail, steel, and finance. Not only did they transform America for the better but are also the first captains of industry. I will start with J.P. Morgan who was an art collector, banker, and financier.
Arguably one of the most pivotal points in American history, the industrialization of the 19th century brought about a new way of life, and with that came intense competition and crucial outcomes. Cornelius Vanderbilt, Andrew Carnegie and John D Rockefeller are just a few examples of industrialists that made lasting impacts on society. I believe that these 19th century industrialists did not always play fair, but it was their motivation and intuition behind their choices that credit them as the “Captains of Industry” and helped shape American business. To earn this title, these men had to do whatever it took to stay on top. Being the front runners, they were constantly being targeted and had to fight back to ensure the prosper of their own
The Triangle Shirtwaist Factory Fire It is unbelievable as a worker in today’s society to read about laborers working 14-20 hours, not allowed to speak the whole time, but it was a reality for workers at the turn of the 20th century. As our nation entered into the 20th century, there was a major push by the Progressives for changes in the workplace that had been going on for nearly a decade, but with no success. While the Progressive movement had sparked changes in public health, the workplace had not changed for the better. Workers in most jobs had to work long hours, at low pay, with no safety regulations. A perfect example was at the Triangle Shirtwaist Factory, where workers were required to work 14-20 hours a day, locked into their workspace
This essay will generally analyze the relationship between the government and businesses, and how “Big Business” essentially took control of the Gilded Age. America’s first true big business mostly arose because of the railroads, which is fairly significant, because it essentially helped lead the development of other business barons such as, John D. Rockefeller, Andrew Carnegie, and J. Pierpont Morgan who all had particularly extraordinary accomplishments in shaping our economy. Most of these men who created big businesses after the Civil War were driven by a compelling desire to become rich and influential.
The amount of time most adults worked was beyond unhealthy, but, what made it worse was that kids as young as nine were sent into the mill to work 6 1/2 hours. This was from Document G as Document G also described that adults were working more than 12 hours a day in warm, and damp air in the factories. Being in warm and damp conditions for half of a day every day is beyond miserable for the body physically and mentally. Many sicknesses were passed as a result from this which resulted in many deaths. It was clear that the health of most adults were detoriating, but it was still ultimately decided to put kids to work like adults even though children generally are not as healthy as adults.
This time mainly focused on the commercialized agriculture and changed the way of life for most Americans. The Market Revolution
Thesis : After the Civil War, America was in a post-war boom. During the 1870-1890, big business moguls, such as Rockefeller and Carnegie, create huge corporations which not only affected the economy, but also affected the political realm of America. While many may assume that during the rise of these big business helped to change the economy and politics, the real focus was on the responses formed by society, such as labor unions, increase public outcry, and political opposition groups that helped to change society. A: Economically, big business flourished during the late 1800s.
Many factory workers were required to work long hours in unsafe and unhygienic conditions. They were forced to work in poorly lit, overcrowded spaces without ventilation, rest breaks, or sanitary facilities. Moreover, workers had no job security, and their employers exercised harsh discipline, including fines, imprisonment, and even corporal punishment. There were no safety regulations, and many factory accidents led to injuries, disabilities, and death. For example, in 1818, a steam boiler explosion in a Manchester factory killed 18 people and injured dozens more.
During the Progressive Era there were multiple of changes occurring that people became overwhelmed. New resources in the oil market, industrialization, fights for equality. There were many factory jobs, however, no one to stand up for the workers. So of course people will turn to their government for help, the power house of the country. However, even the government was picky in what they helped with.
Transportation meant more interactions of people and information, but often had devastating effects due to the human folly of wanting to decrease time. Women in the work force increased the production rate, as well as a boom in the economy, but were often treated in inhumane conditions and regarded lowly. Banks allowed vast opportunities for the wealthy investors, but also ended up disabling the poor working force, especially in the depression. As such, while there were evident benefits to the market revolution that heavily boosted the economy and development of the country, the drawbacks still outweighed the positives. Death and people taking advantages of others led to the market revolution being a dark time in American history.
The life of an industrial worker was very hard. Workers had to work long shifts and get paid very little. Some worked ten to twelve hours a day, six days a week, and made less than one dollar per hour. Along with long hours and little pay, there was no regulation for breaks, safety, or age. Due to this, one in eleven workers died on the job.
The businessmen of the late 1800s and early 1900s treated their workers horrible and made all their money on the backs of hard working men and women. The workers who made these men rich were dirt poor. These men and women had families but even working as many hours a week could barely support their families. Many people got hurt in the factories and were given little or no compensation or help leaving them and their family no way to make money.
2. How did the federal government tackle the problem of monopolies and trusts in the Progressive Era? The first trust, created by John D Rockefeller, was the Standard Oil Trust. There were 40 companies under this trust that had control of over 90% of all oil refining and oil marketing in the United States.
Cars, radios, and the stock market are just a few examples. The economy boomed with more potential stocks to be owned and even more products to be consumed. Many businesses' stock values multiplied by six times in just a few years. As there were even more people who wanted these consumables, businesses needed to find a way to make as many as possible in as short a time as possible. Thus creating the mass-production we know and love today.