Christina Rodriguez David Tait History 2493 February 8, 2013 Andrew Carnegie, an “Industrial Statesman” Industrial leaders of the nineteenth century were considered “baron robbers” because of the harsh treatments of their employees, the low wages that were paid to the employees, the harsh work conditions that no one was allowed to complain about, and the long work hours that were being forced upon them because they knew that the workers were desperate and needed the money to provide for their families. The business owners abused the power they had over the employees often by hiring others to do a job and those men would turn around and hire local men for lower wages and at times pocketing a huge profit. Most of the business owners would know of the side dealings but would turn a blind eye. These leaders displayed ruthless ethics, which destroyed their competitors, in order to satisfy their own greed. However, Andrew Carnegie was no angel in the business world; however, he can be considered more of an “industrial statesman” because he worked his way to his position of wealth through hard work.
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The only ones who really benefitted from industrial capitalism were the giant corporations and those who believed in capitalism. The oppression of workers, polluted rivers and land, dark business practices, fierce competition, and the destruction of the conventional skills led to the enlargement of these giant corporations. As the giant corporations continued to progress the laborers were going nowhere, and their situation was only getting worse. The unskilled workers were hired because industries were not forced to pay them a reasonable amount of money, and the capitalists believed in self-interest and greed. The giant corporations were becoming wealthier as the workers were becoming deprived of everything where the wages would decline to starvation levels and they had nowhere to
Because of this, they endured more and more prejudice. Old traditional industries The traditional industries failed to respond to the new mass-production methods of the 1920s, unlike the Ford company that was making a good profit and could pay impressive wages. Also, following a reduction in the powers of Labor Unions (Trade Unions), the workers were not in a position to be able to claim better wages and working conditions in the old industries. * Coal - Coal prices fell and thousands had to be made redundant because the industry was producing too much coal and not enough people and countries wanted to buy it. * Ship building - Another major industry that had to make thousands redundant due to a reduction in the demand for new ships.
Short lived economic policies were another factor to the Great Depression. Overall the economy of America was not stable. Overproduction occurred in the US which meant that manufacturers made more than the people were willing to purchase. Therefore, the factories started to make less of their products. They fired workers because not as many were needed to make the products.
Outsourcing of jobs from the United States to other countries has been a growing matter over the past few decades. With the economy at a low, many industries and CEOs are wanting to expand their markets and factories overseas to developing countries that thirst for any job they can get their hands on. These workers are paid a substantial amount less to do the same work that normal Americans would do for a lot more. This is where the issue has many unemployed Americans buzzing. Most minimum wage workers that have lost their jobs to outsourcing absolutely cannot stand the idea whatsoever.
The largest cause was the crash of the stock market as well as “panics” by the banks. Some economists had their own beliefs about why the country had such economic troubles. Some believed that overproduction was a major factor meaning consumers did not want to consume all that was being produced. Factories would produce excess amounts of goods and it would just sit around because people in the society were not spending money. The people who were spending money were the poor more often than the rich; the poor were getting poorer and the rich were essentially becoming richer because even though there was no money to make, they were not spending.
Without the help of our 32nd President, often called by his initials FDR, America could have ended in anarchy. However, there are two sides to every story, and not every America felt the same way. When the world started changing, not every American was able to keep up. Everything was becoming pricier and wages weren’t getting any higher. Our fast growing industrial way of life was slowly weakening our economy.
1] succinctly summarizes the de-skilling hypothesis for the Industrial Revolution: new technology brought about “a substitution of mechanical devices for human skills” and “inanimate power—in particular, steam—took the place of human and animal strength.” By several measures, ordinary factory workers were unskilled. Compared to workers in craft and professional occupations, factory workers earned lower wages. Also, factory jobs did not require formal education, training periods were brief, factory work was monotonous and factory workers lacked both social status and market power. Thus a wide body of evidence supports deskilling as a description of the change in the nature of the labor supply. But the de-skilling hypothesis is also about technology.
The unemployment was on the rise, and the job market was declining at a high rate. This was going on before he got in the White House. I feel like it is up to the owners' to stay or leave. Companies are taking their businesses overseas to have employees work for lower salaries, paying lower tax rates, better tax credit, or to have more money in the their pockets. Some businesses feel like they are not making money here in the United States.