The Men Who Built America Episode 8 Answers

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The Men Who Built America Episode 8 Answers – The New Machine

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The Men Who Built America Episode 8 Answers – MCQs

Q. What did the court accuse Rockefeller of doing?
Ans: Intimidating people to sell to him

Q. What happens to Ford after he wins and what does he do?
Ans: Builds on his celebrity and raises money to build his first factory in Michigan

Q. How much does Ford pay his workers? Was it fair?
Ans: $5/day, the highest rate at that time

Q. What happens to Standard Oil?
Ans: Broken up into 34 smaller companies

Q. What is the revolutionary new car that Ford mass produces and how much does it cost?
Ans: Model T

Q. What did other companies learn from Ford to sell to the masses and provide a livable wage for workers?
Ans: Harley Davidson motorcycles, Hershey chocolate, Wrigley chewing gum, Max Factor cosmetics (inventing makeup)

Q. How does Ford inadvertently help Rockefeller and JP Morgan?
Ans: Standard Oil gasoline stations (fuel Ford cars), cars built using Carnegie Steel in factories powered by Morgan’s electricity.

Q. What happens to John D Rockefeller after losing the court case?
Ans: Exxon, Mobile, and Chevron all become corporate giants and he is a shareholder in each company, made more money than he had ever made in his life (net worth $660 billion in today’s money)

Q. How is JP Morgan honored?
Ans: NYSE shut down (normally only happened for passing of President)

Q. What is the new contest between Rockefeller and Carnegie?
Ans: Who can give more money away

Q. According to Carnegie, what should a rich man do with his money?
Ans: “A man who dies rich dies disgraced”, millionaire should give away all of his money

Q. Who wins the new contest between Rockefeller and Carnegie?
Ans: Carnegie more than $350 million (in that time’s dollars) – education and libraries mostlyRockefeller outlives Carnegie by 13 years, gives more away because also had a bigger networth,donated millions to his church and universities, then at 73 created Rockefeller Foundation $100,000,000 ($38 billion today) – public health issues

Q. How old is Rockefeller before he dies?
Ans: 97

Q. How much money does Rockefeller give away in today’s money?
Ans: total of $530 million, today over $100 billion

Q. Who does the world look to for help in World War I?
Ans: USA

Q. What does America have to offer the world in World War I?
Ans: Troops, supplies, weapons, resources to bring peace to the world

Q. How was Ford’s car different from other automobiles in production in that era?
Ans: Affordable enough to be purchased for the normal man

Q. When Henry Ford’s application was rejected by ALAM, what did he decide to do?
Ans: Make a name for himself by challenging them to a race.

Q. How did U.S. Steel avoid the anti-cartel lawsuits that plagued Rockefeller?
Ans: He helped form the nation, or what it was. Used his power to make our nation better.

Q. Sumner Redstone, majority owner of Viacom & CBS, said, “I hate monopolists. I fought monopolists all my life.I always wanted an even playing field, but I had to fight for an even playing field.”How does monopoly lead to an uneven playing field?
Ans: A person can do whatever they want

Q. Listen to Rockefeller’s answer to the accusation that Standard Oil has been a destructive influence. What does Rockefeller believe about his actions?
Ans: He took chaos and made order.

Q. How was Ford’s factory different from the way other cars were manufactured?
Ans: Assembly line

Q. What decision did the court reach in the United States vs. Standard Oil Co.et al?
Ans: It was a trust and had to be split within 6 months.

Q. What did the court decide in the case between Ford and ALAM?
Ans: ALAM had no copyright on the car

Q. How did the “new breed of businessman” differ from the older group?
Ans: Took their things to an average person and still was able to give the people good wages.

Q. How did the breakup of his company affect John D. Rockefeller’s personal finances?
Ans: Owned stock in all the newer companies. Making him the richest man in the world.

Q. J.P. Morgan passed away peacefully at the age of 75. At his death, Carnegie and Rockefeller changed their competition. Instead of trying to be the richest, what did they do now?
Ans: Turned to philanthropy

 

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Conclusion – Episode 8 The New Machine

After McKinley is assassinated, Theodore Roosevelt becomes president and quickly passes a series of regulations increasing oversight of American business. Henry Ford devises a plan for a gas-powered car, and he launches the assembly line as an innovative method of production. He targets the middle class with his Model T and changes the landscape of America. The Panama Canal opens up new trade routes. Rockefeller is put on trial for anti-trust solutions. He loses in court and his company, Standard Oil, is one of the first monopolies broken up by the U.S. government. J.P. Morgan helps to establish the Federal Reserve and cements his legacy as the father of modern capitalism. He and other big business leaders become major philanthropists. As the U.S. Army sets sail for Europe in World War I, one thing is clear…these men didn’t discover America, they built it.

 

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