A/N this is just me being bored. If no one likes this, do tell. I'll do it anyway, but blah.... BLAH!!!!!!! to tired
Time: like 8:30 to probs 9:30s
Music: Styx Greatest hits, https://www.youtube.com/watch?v=gSySrLodrNo and bits of Foriegner Greastest hitsies. https://www.youtube.com/watch?v=JCaR6T7AYh8
Foreigner 'Complete Greatest Hits' Full Album
Boredom Levels: Super high!!!!!!!!!!!
Topic: Tycoons and peeps
I's gots one more blue heading, and then I copy and pastes cuz copys and pastes. The tireds has taken my brain. Thats a cool idea! the story of a brain cell being kidnapped by the rebellion called the Tireds!!!!!!!!!! You can take that. It's probs crap. I should do my homeworks. I don't want. MISS AMERICA! (Its the song...........)
ORIGINAL MR. ROBOTO! yas!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! With parts made in japan? What??????!?!?!?!?!?!?
Name: "Tyler Elm" Period: 3 Date: 10/5/15
Chapter 20 - Section 2: The Rise of Big Business
Growth of the Steel Industry
Making Steel a New Way
In both England and America, a new way of making steel was discovered, and was called Bessemer Process, and was cheaper than the old way
Rail lines began using the newly easier to come by steel, and skyscrapers used it too, and was used for small things
Thriving Steel Mills
Steel mills became a thing, and help economy, especially in Pittsburgh.
it polluted a lot!! Sad.
Big Idea: Steel can now be produced cheaply, and is used for trains and other stuffs, and helped increase the economy, though it polluted. Sad!!
Andrew Carnegie's Steel Empire
Controlling the Steel Industry
He learned of new ways of steel in London, and made money from making more stuff faster, which he used to buy all the resources his competitors would need.
He controlled everything, from mines to shipping, and soon he was making more steel than all of Great Britain
The "Gospel of Wealth"
He worked underlings hard
Still thought it was the rich man's job to help the poor unfortunate souls and grew to believe in the "Gospel of Wealth"
Big Idea: Andrew Carnegie made lots of money off the steel industry, and was rich, but was a really cool dude and donated money to charity.
The Corporation and the Bankers
The Rise of the Corporation
companies grow and become corporations (Mama, I'm a big boy) owned by investors, which the money is used to but factories and stuffs.
the investors have bought stock, , and hope to get money back, and won't have to pay money if company goes bankrupt.
Banks and Industry
Corporations gots the dough from investors, and dos banks. Industry grows like why not, and bankers are rich toos.
J. Pierpont Morgan was bullied in his youth (not, but probs) and made lots of the money from being banker, and owned lots of the stuffs, buying into itty bitty comps, ruling them from high rankings, then making them badass as ef. He becomes president of the first company over $1 billions dollars.
Big Idea: Corporations became big guys, and underdogs died. Only bankers and stockholders and corporation peeps liked this, especially poor unfortunately named J. Pierpont Morgan. But isn't all a grand illusion.
Rockefeller's Oil Empire
Rockefeller and Standard Oil
Rockefeller had a brain. Just sayin' cuz he made refineries to purify the oil so it could be used, and then the dude literally bought more and more to make more profits, and smashed it all together to make the Standard Oil Company
The dude was smart, he gave rebates and forced customers to love him and him alone (Akas they can only use his company), cuz slef(I'm not fixing that, it's to funny) absorbed much like can I go sleep now?
Standard Oil Trust
Smart Mr. Rockie here made a trust (TRUST FALL! CATCH ME!!) and comboed a plenty of companies
He playd monopoly, and all small business stockholders could give stock to soc (Standard oil company) and the soc (seriously outsiders right now) would give stock to does guys, and soc built monopoly, owning 95%s of oils cuz brains
Big Idea: Rockefeller got rich off of resources and brains, preferably oils, and got monopoly cuz monopoly is a fun game
The Case For and Against Trusts
The Case Against Trusts
So..... Close.... Notes as followsessssss my presious...... : Peeps don't like huge trusts cuz too much money can and buy government ishies. Nots to mention life
kills competition, so there will be no discounts anymore which may hurt like a band aid. They passed laws anti corps though, but no one really cared about them
The Case For Trusts
makes lower production costs and stuffs, lower prices, higher wages, and higher qualities cuz lifessssssessssssssssss
Nots to mention millionares can donaateds the monesy. I refuse to fix spelling now.And likes they can........
Big Idea: People either like the corporations like the SOC, still love that one, or they hated them and they did pass anti laws, but if I hadn't known about them before it isn't important.
Vocabulary
Bessemer Process-A method developed in the late 1850s to produce steel at a lower cost.
Vertical Integration- Owning all of the steps used to change raw materials into finished products
Corporation- Business that is owned by investors
Stock- share of ownership in a corporation
Dividend- a share of a corporation's profit
Trust- a group of corporations run by a single board of directors
Monopoly- a company or group having control of all or nearly all of the business of an industry
Free Enterprise System- economic system in which businesses are owned by private citizens who decide what to produce, how much to produce, and what prices to charge.
Sherman Antitrust Act- an 1890 law that banned the formation of trust and monopolies in the US
YOU ARE READING
Late Night Notes
RandomLiterally any of my homeworks that have been deformed by sleep deprivation.
