Industrial America: Corporations and Conflicts??

The Rise of Big Business

1. Industrialization revolutionizes world economy  
   1. Period of lowering prices 
   2. Everyone is better off, but gap between rich and poor grows. 

How do I make profits when prices drop?

Profit=Revenue-Costs

MUST LOWER COSTS 

1. Cheaper Materials 
2. Cheaper Labor: 
   1. Immigrations, Deskilling 
3. Vertical Integration: own every part of the production process-Swift, Carnegie 
4. Horizontal Integration 
   1. By your competitors 
   2. Ex. Rockefeller 
5. Become more efficient-scientific management 

Increase Revenue 

1. Consumer Culture-marketing, catalogues, traveling salesmen 
2. Labor Gets Organized 
3. …