For the following 5 items, please be able to write about their importance: (I'll give you a index card on Monday for these 5) - There are 40 total questions;
**UPDATE: This will be a scantron test, so you will need a pencil, but there's writing and you will also need a pen!!!
1. Vertical Integration and Andrew Carnegie (He bought railroad companies and iron mines. If he owned the rails and the mines, all the stuff he needed to produce and ship his steel, he could reduce his costs and produce cheaper steel)
2. Horizontal Integration and John Rockefeller (Rockefeller often bought other oil companies to eliminate competition, thereby making his company, Standard Oil, the most profitable company because he could charge any price with little to no competition. This is a process known as HORIZONTAL INTEGRATION)
3. Philanthropy (Rockefeller, Carnegie, and other extremely wealthy people started giving massive amounts of their fortunes to fund libraries, colleges, art, and other things to make the US better - but their extreme wealth came at the misfortune of their workers - a potential cause of why they gave back so much)
4. Skilled vs. Unskilled Workers (Skilled labor refers to labor that requires workers who have specialized training or a learned skill-set to perform the work; Unskilled labor does not require workers to have special training or skills - the largest sector of employment is unskilled - and those jobs come ad go - as more and more jobs require education/training)
5. Rags-to-Riches Themes and Businessmen (Novels (by Horatio Alger) about impoverished boys and their rise from humble backgrounds to lives of middle-class security and comfort through hard work, determination, courage, and honesty. This was known as a "rags-to-riches" narrative, which had a formative effect on America during the Gilded Age because most businessmen saw themselves as coming from low beginnings, worked hard, and then became the richest and most powerful people on Earth - even if their beginnings weren't so humble)
Other Things to Know: Can you trust a trust?, George Westinghouse and Pullman and how they helped trains, Alexander Graham Bell, The Gospel of Wealth (Carnegie), Bessemer Process and Steel, Communism, Free Enterprise, Capitalism, Monopoly, Trusts, Corporations, Bad working conditions, Thomas Edison, Telegraph, Carnegie, Rockefeller, 2nd Industrial Revolution, Positive effects of Oil (graphic org), Growth of steel (graphic org), Worker safety decreasing, Transcontinental Railroad, Urban poverty increasing, Patents, Copyrights, Sherman Antitrust Act, AFL and Samuel Gompers, Terence V. Powderly, Horatio Alger, Great Upheaval, Haymarket Riot
Of Note for the week of October 7-11: Ch. 6 Test is on Tuesday, Finish up Ch. 7, and then start and work on Ch. 8. Report Cards come out Friday October 11 (make sure your grades are good to go, my gradebook is now closed - most people did quite well (woohoo). Please ask if any help, tutorials, or anything else is needed. Let's have another great week!