The Rise of Industrial Capitalism

APUSH Review - Unit 6 Topic 6

Period 6: 1865-1898

Key Topics

The Gilded Age

• Time period after the Civil War and Reconstruction.
• Characterized by rapid economic growth and industrialization.
• Dominance of major corporations leading to the decline of small businesses.

Key Figures and Strategies

• John D. Rockefeller

  • Dominated the oil industry.
  • Utilized horizontal integration (buying out competitors).

• Andrew Carnegie

  • Dominated the steel industry.
  • Used vertical integration (controlling all aspects of production from raw materials to distribution).

Economic and Social Impact

• Creation of vast industrial empires and enormous wealth among industrialists.
• Emergence of "Captains of Industry" or "Robber Barons."
  • These terms describe the wealthy industrialists who were seen as either beneficial to the economy or exploitative.
• Laissez-Faire Capitalism
  • Government approach of minimal interference in business.
  • Industries were largely unregulated, leading to large economic disparities.

Labor and Immigration

• Industrial labor largely composed of immigrants, women, and children.
• Workers often received low wages, leading to economic disparity.

Social Darwinism

• Economic theory applied to business.
• Suggested that only the "fittest" companies would survive, justifying business practices.

The Gospel of Wealth

• Concept advocated by Andrew Carnegie.
• Promoted the idea that the wealthy should use their riches to advance social progress.

American Expansion

• Industrial growth facilitated American expansion into the Pacific Rim, Asia, and Latin America.

Technological Advancements

• New technologies and managerial systems developed to support industrial growth.
• Introduction of middle management roles within businesses.

Study Resources

• Follow-along note guides available at Heimler's History Noteguides.
• Additional resources such as the AP Heimler Review Guide and Essay CRAM Course are available.

Conclusion

• The rise of industrial capitalism during the Gilded Age led to significant changes in the American economy and society, paving the way for modern economic structures.

Note: The information is aligned with the AP U.S. History Curriculum and Exam Description for Unit 6 Topic 6.