TR3.5

Capatalism and Industrialization

Huxley Marvit 2022-03-06 Sun 23:22

Table of Contents

#flo #inclass #hw

1 pt 2!

  1. intro
    • railroad financial bubble bursts in 1873
      • econ stagnates
      • worker's wages slashes
      • railroads shut down! "nations lifeblood"
    • people went on strike, started to destroy the railroads so they coudnt get reopened
    • big violence happened
    • eventually dealt with by soldiers
    • means we need
      • institutionalized unions
      • buisnisess need political influence and gov aid
  2. the march of capital
    • skills mattered less and less
      • cus industrialised, mass producing
    • taylorism!
      • subdivide tasks to increase efficiency
      • "works as interchangable as the parts they were using"
      • specialization, means crazy efficiency
      • paving the way for the assembly line
    • america is a crazy large industrial nation
    • visible hand operated between the worked and the owners? hm
    • mass production means only the very wealthy can do it
      • so only the rich can get richer
    • competitive marketplace means a turmultious marketplace
      • price drops cuts into profit drops
    • so we get collusion and insider trading and such!
    • "the great merger" melted away competition
    • monopoly! it's here.

    and, ofc, next we get the rise of inequality greatest advances in efficiency and productitivity ever, due to industrial capitalism

    industrial rev created lots of sh*tty jobs and lot's of inequality!

    • richest 10% controlled 90% of the wealth
    • ideas to morally legitimize the crazy rich had to be created
      • ie. twisting of darwins evolutionary theory
    • "inequality of outcomes was to be not merely tolerated but encouraged and celebrated" %%- industrial capatalism%%

    the labor movement - social darwinism was not accepted by the laborers - great railroad strike failing led to workers thinking they needed to organize

    so they made the Knights of Labor

    had a failure, then regrouped to fight for 8 hours days didn't go well..

    then we get AFL

    lots of strikes and such!

    the populist movement - "wall street owns the country" was a popular sentiment - not of the people or for the people, ect - farmers made the alliance

    end at "The alliance's most innovative programs were a series of farmers' cooperatives that enabled farmers to negotiate higher prices for their crops and lower prices for the goods they purchased. These co"