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UCONN - HIST 1502 - Study Guide - Midterm

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UCONN - HIST 1502 - Study Guide - Midterm

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background image HIST 1502 MIDTERM EXAMINATION STUDY GUIDE The midterm examination will consist of a single essay question, drawn from the list below. 
Since you do not know which question will appear on your exam, you would be wise to prepare 
for both of them. You will be permitted to bring one 8 ½ x 11” sheet of paper with notes to the 
exam, which you will turn in with your essay. Students who turn in identical or nearly identical 
notes sheets will fail the exam.
With the exception of a brief quote or two, your essay should be in your own words – don’t copy 
sentences or paragraphs out of the readings, ppt slides, or any other sources, and do not write 
essays that have sections that are identical or nearly identical to portions of essays written by 
other students (the argument that you “studied together” will not be accepted). Anybody can 
copy. I want you to be able to solve important historical problems on your own.
You should use material from lectures, class discussions, and the assigned readings in your 
answers.  Good answers do not draw all of their data from one place. Rather, they combine 
material from several lectures, several discussions, and several readings.
1.     In the Gilded Age – indeed, even long after the Gilded Age ended – members of the
new industrial upper class (entrepreneurs, captains of industry, robber barons, or 
whatever else you want to call them) continually sought to concentrate wealth into their 
own hands – one of the major results of what economic historians have termed 
“divergence.” 
After first explaining the concept of divergence, go on to examine how, during the 
Gilded Age, the upper class attempted both to build and then concentrate wealth –
both their successes and their failures. What critique did capitalists like Albert 
Augustus Pope make of competition?
 Divergence is the separation of the upper 
class, the middle class, and the working class. The upper class attempted to build wealth
as well as concentrate it by creating companies that attracted the working class to work 
for this to make their companies into corporations during 1877­1896 . These companies 
were formed around modern technologies that the public demanded such as textiles, 
bikes, steal, oil, and guns. Successful companies followed and tracked the changing 
technologies to keep up with the public's needs. To avoid overproductions or 
competition, these companies acquired patents to protect their companies. As 
Entrepreneurs, the company's attended world fairs to get their name out to awe the 
public to attract more employees and to attract investors to want to give to their 
company.
background image How did they attempt to avoid competition? They attempted to avoid competition by 
acquiring patents on their products, inventions, and technologies. 
What had occurred in the sewing machine industry after the original Howe patent 
had expired? 
What role did entrepreneurs think that technology played in generating wealth? 
New technology was the way entrepenuers generated welaht thorugh plentiful 
energy, liquid capitol. Cheap labor, expanding markets, cheap transportation, and 
good social capitol. 
Patents? Companies could use patents to temporarily create monopolies. 
What strategies did entrepreneurs follow when their parents began to expire? 
Overproduction came into play, so successful businesses were aware of the 
technological advances and needs such as new inventions. For example, Pope was 
manufacturing bicycles, and the turned to manufacturing of Pope automobiles. Henry 
Ford faught Pope on the patent and won, destroying Pope’s Monopoly. Monopoly was 
therefore not the proper way to overcome overproduction.
What role did corporations play in the concentration of wealth? Corporations 
utilized trust and conglomerates to pool together corporations into big corporations. They
were considered monopolies, control each production of oil, steel, and meat, but were 
actually considered oligopolies. The Standard Oil Trust was considered an example of 
vertical integration, while the American Thread Company was considered a horizontal 
integration. 
Department stores Macy’s? Chain stores A&P Grocery? Company stores for the workers ? Company housing for the workers? Catalog stores Sears By 1920, what proportion of American wealth was controlled by the upper class? 
1% of Americans owned 33% of wealth. Now it is 38%
2.     Industrialization transformed American society and culture in many ways. In 
the Gilded Age – during the Second Industrial Revolution – new social classes 
expanded and became typical of the new society. In 1790, America had been an 
agrarian society composed of both small family farms and sprawling plantations.
 
As industry expanded, however, more and more people worked in manufacturing 
and commerce. The new socio­economic classes – upper class, middle class, and 
working class – had dissimilar lifestyles – which was one of the major results of 
what economic historians have termed “divergence.” 

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School: University of Connecticut
Department: History
Course: U.S. History Since 1877
Professor: Cathy Wright
Term: Fall 2015
Tags: history
Name: HIST Midterm
Description: 2 essay questions, one will be used on the exam.
Uploaded: 01/31/2018
3 Pages 27 Views 21 Unlocks
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