Unit+1

Unit 1 work

How to Become a Successful Businessperson
The key to becoming wealthy is knowing what is in need by the people, or just what is really popular at the time. also if you see that a business is doing well you might want to open one too, then buy the companies from them. Another way is try to see what people want or what you think they need in order to make it easier for everyone. For example Andrew Carnegie, he knew that steel was really in need at the time and that everyone would need it to make more houses and other important things. Trading was another way to become wealthy because people would need transportation in order to trade with other countries and such. for example John Jacob Astor builted a complete monopoly of trading fur.

Wealthiest Aamericans o f All Time

Rockefeller

 * 1839-1937
 * oil industry
 * Standard Oil co., put competitors out of business
 * made $192 billion
 * Charity- $550 million through acts of philantropy
 * formed a secret alliance with the railroad companies
 * he controlled 90% nof the worlds oil by the age of 40
 * buy all the oil barrels so that other businessman wouldnt be able to buy and sell some oil
 * he made businessman go out of business

Carnegie

 * 1835-1919
 * Steel Empire
 * made $75 billion
 * Charity- about $350 million

Morgan

 * 1837-1913
 * made $38 billion
 * most powerful finaniers
 * helped form the electric and u.s. steel
 * helped u.s. during the gold crisis



Vanderbilt
__Summary:__ These four businessmen were all around the same time period, and were very welthy and successful. They all gave charity, which they probably thought it was the right thing to do. Also, they all were very smart in their strategy while running their businesses.
 * 1794-1877 p
 * made $143 billion
 * was a steamboat entrepreneur
 * started buying raillroad lines

The time period is called the Second Industrial Revolution-1870-1920. It is called an industrial revolution because it was when they started using technology instead of human labor work. It was a time period of major change which made life more easier.There were new businesses created and technology that helped to develop a new way of transprotation and communication.

__﻿Invention of the 2nd IR__
__[|invention timeline]__



In 1889 the first electric elevator was installed. It was put in one the important building where there are usually a lot of people coming in and out of. the elevator made it very easy for poeple to go up and down each floor without using the stairs as much. In 1888 the first kodak camera was out, and everyone had a chance of having their own camera in their hands. It took a hundred pictures and when you wanted new rolls of film or to load them you would return in rochester,NY. In 1875 the first american phone was demonstarted, but it was until 1876 that they could hear a couple of words. the telephone really helped people communicate more easier to one another because before that it would take a few days in order for the other person to receive your message.

10 other inventions from the 2nd IR:
 * Air brake-1868
 * Gas-powered car-1885
 * Typewriter-1874
 * Zipper-1891
 * Railroad boom-1880
 * Phonograph-1878
 * Light bulb-1879
 * Skyscraper-1885
 * Photographic plate-1880
 * Motion picture projector-1888

__Bell__- he invented the telephone- people can talk with people from long distance which increases communication opportunities and speed.
=**CAPITALISM**=

**America's economic system-businesses compete with each other for customers**
examples from today's world: coke competes with pepsi, as of 2010, coke is winning, they are the #1 brand in the world.


 * intel is competing with hp, and intel is winning with #7, i think intel is winning just because they have a lot to offer like they have tv's and different merchandises.
 * toyota is competing with mercedes benz, and toyota is winning. i think toyota is winning because they are always advertising their car and they have a lot of different styles
 * Blockbuster is competing with netflix, but netflix is winning because of their new ways of watching movies, you can get movies right from the internet and watch it without the dvd coming to you.

Parts of the economy:

 * government- sets up rules and regulations for businesses and sets taxes on bussiness and controls some aspects of trade
 * consumer/customers-they purchase goods and services:products,food,etc.
 * banks-control money, loan money to people and business
 * businesses- make products and things
 * workers-make stuff for businesses

__﻿Workers- pictures and quotes__
8. "Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration. " -Abraham Lincoln
 * I see what may seem employers
 * they're on strike maybe because they're not getting payed enough
 * Macy's is unfair so the employers dont want costumers to come and buy from it until they get their way
 * the employers probably dont get any benefits


 * Without labor there would be know capital, no earnings
 * when you do labor or hard work, you are working for a capital
 * what if there was no labor or capital? what would happen? would everything be the same?

__﻿Working conditions video-__

 * railway workers had the most dangerous jobs,nearly 15k died(and many more)between 1902-1908
 * 4,700 workers died working on the panama canal
 * they started saftey classes when more workers died
 * workers were blamed when it comes to safety and deaths
 * 146 people died in a NY fire in the building and all exits were closed and locked
 * as prodcution increased more workers were needed and millions of immigrant came to America( between 1990-1910=9million immigrants)
 * from 1 town 526 workers died in 1 year
 * thousands of workers died in workplace accidents=some railroad workers, some minors-working conditions were very dangerous
 * when workers tried to unionize or strike they were often fired or their strikes were broken up by the police or the government
 * Unions work to address these problems,they have worked for:**
 * 40hr work week(8hr workday(9-5) 5days a week)
 * paid leave(vacation)
 * minimum wage
 * overtime pay
 * health care benefit
 * children labor laws... and more

Google Doc on unions:
media type="custom" key="7182907"

Labor Day video:

 * workers were marching in a parade while on strike for more pay
 * the railroad workers were having a strike and the president sent troops to fight with the workers striking and 2 died, therefore he signed on and he made labor day
 * factory work that used be done by people are being done by robots today
 * workers wanted to be recognized and rewarded with a day without work
 * workers that formed a union usually got stopped by troops