Outline #3 Industrialization and Big Business in the Late 1800s ...
Outline #3 Industrialization and Big Business in the Late 1800s ...
Outline #3 Industrialization and Big Business in the Late 1800s ...
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<strong>Outl<strong>in</strong>e</strong> <strong>#3</strong><br />
<strong>Industrialization</strong> <strong>and</strong> <strong>Big</strong> <strong>Bus<strong>in</strong>ess</strong> <strong>in</strong> <strong>the</strong> <strong>Late</strong> <strong>1800s</strong><br />
Case Study: John D. Rockefeller <strong>and</strong> St<strong>and</strong>ard Oil<br />
I. Film: Our Plan from documentary series The Prize<br />
A. John D. Rockefeller <strong>and</strong> St<strong>and</strong>ard Oil<br />
B. Petroleum<br />
1. Kerosene<br />
C. Edw<strong>in</strong> Drake <strong>and</strong> "Drake's Well"<br />
D. Frank <strong>and</strong> Es<strong>the</strong>r Tarbell<br />
E. Ida Tarbell<br />
F. Boom <strong>and</strong> Bust Cycle<br />
G. "Capture Theory"<br />
H. Rockefeller's Crusade to Control Oil Industry<br />
1. Railroads<br />
2. Economy of Scale<br />
3. Rebates<br />
4. "Our Plan"<br />
5. Drawback<br />
6. South Improvement Company<br />
7. Industrial Espionage<br />
8. Clevel<strong>and</strong> Conquest<br />
I. Robber Barons<br />
J. Rockefeller's philanthropy<br />
K. Effects of oil production<br />
L. "Bl<strong>in</strong>d Tiger"<br />
M. Clash Between 19th <strong>and</strong> 20th Century Values<br />
N. Kerosene to Gasol<strong>in</strong>e<br />
1. Thomas Edison <strong>and</strong> Light bulb<br />
2. Henry Ford <strong>and</strong> Automobile<br />
O. Development of New Oil Fields<br />
1. Sp<strong>in</strong>dletop, TX<br />
P. Backlash aga<strong>in</strong>st Trusts<br />
Q. Theodore Roosevelt<br />
R. McClure’s Expose on St<strong>and</strong>ard Oil<br />
S. Case 398 – Break Up of St<strong>and</strong>ard Oil<br />
T. Philanthropy
II. Questions for Discussion<br />
1. Describe <strong>the</strong> oil <strong>in</strong>dustry dur<strong>in</strong>g <strong>the</strong> first "oil booms." What do you see as <strong>the</strong><br />
positive <strong>and</strong> negative aspects of <strong>the</strong> way <strong>the</strong> <strong>in</strong>dustry functioned? What does <strong>the</strong><br />
early oil <strong>in</strong>dustry suggest about American capitalism <strong>in</strong> <strong>the</strong> early-to-mid <strong>1800s</strong>?<br />
2. How did Rockefeller view <strong>the</strong> early days of oil drill<strong>in</strong>g <strong>and</strong> ref<strong>in</strong><strong>in</strong>g? What did<br />
he see as <strong>the</strong> problems <strong>and</strong> how <strong>and</strong> why did he seek to address <strong>the</strong>m?<br />
3. What were some of <strong>the</strong> tactics Rockefeller used to develop St<strong>and</strong>ard Oil? How<br />
did o<strong>the</strong>r people respond to Rockefeller's actions?<br />
4.The documentary characterized <strong>the</strong> controversy over St<strong>and</strong>ard Oil as a clash<br />
between <strong>the</strong> values of <strong>the</strong> 19th century <strong>and</strong> <strong>the</strong> values of <strong>the</strong> 20th century? What<br />
19th century values <strong>and</strong> what 20th century values were <strong>in</strong> conflict? Which values<br />
won out <strong>and</strong> why?<br />
5. What do you th<strong>in</strong>k of Tarbell’s argument that it was okay for St<strong>and</strong>ard Oil to<br />
grow as big <strong>and</strong> rich as possible, but only by “legitimate” means? What means were<br />
“legitimate” <strong>and</strong> which were not?<br />
6. Why were Ida Tarbell’s articles so damag<strong>in</strong>g to St<strong>and</strong>ard Oil?<br />
7. What was/is <strong>the</strong> legacy of St<strong>and</strong>ard Oil?
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