How Henry Ford Invented the Model T | The Men Who Built America (S1, E8) | Full Episode

Summary

Highlights

• Henry Ford challenged the auto industry monopoly, successfully paving the way for affordable cars 🚗.
• After its breakup, Standard Oil's legacy continued with companies like Exxon and Chevron 🌐.
• John D. Rockefeller exceeded his wealth even after Standard Oil's dismantlement, thanks to investments 💼.
• Ford's assembly line innovation drastically cut down car production time, setting a manufacturing benchmark 🏭.
• Carnegie and Rockefeller's philanthropy inspired future generations to give back to society 🌍.

Key Takeaways

• Henry Ford revolutionized the auto industry with the Model T, making cars affordable for the common man 🚗💡.
• The break-up of Standard Oil marked the end of monopolistic dominance, opening up American business for innovation 🛢️⚖️.
• Andrew Carnegie and John Rockefeller turned to philanthropy, donating millions to society's advancement 📚❤️.
• The early 20th century marked a shift towards a robust middle class thanks to industrial advancements 🌎🏭.
• Ford's use of the assembly line transformed manufacturing processes, significantly reducing production time 🏭⏱️.

Overview

Chapters

• 00:00 - 00:30: Introduction: The Dawn of the 20th Century The chapter introduces the beginning of the 20th century, highlighting America's emergence as a significant global power. It becomes a land of opportunity, attracting millions from around the world, inspired by successful figures like Andrew Carnegie and John D. Rockefeller, who are known for building vast empires from humble beginnings.
• 00:30 - 02:00: America's Prosperity and Discontent The chapter titled 'America's Prosperity and Discontent' explores themes of economic growth and the underlying dissatisfaction that accompanies it. The use of the song by Blues Saraceno, 'Save My Soul,' serves as a metaphorical backdrop, suggesting a conflict between material success and spiritual or emotional fulfillment.
• 02:00 - 04:30: The Assassination of President McKinley The chapter titled "The Assassination of President McKinley" begins with an expression of personal emotion, emphasizing vulnerability and the fleeting nature of life. It then transitions to a perspective shared by Steve Casc, who highlights the mindset of successful entrepreneurs. Casc underscores the importance of taking a long-term view, considering the impact of their actions over decades rather than short-term gains. This philosophy contrasts with the abrupt and tragic nature of events like the assassination, suggesting a broader reflection on the influence of time and legacy.
• 04:30 - 06:30: The Rise of Theodore Roosevelt President William McKinley is re-elected for a second term.
• 06:30 - 09:30: Roosevelt's Anti-Trust Crusade President McKinley's 1901 speech in Buffalo praises America's prosperity, but underlying issues of inequality persist, fueling public discontent with his ties to big business.
• 09:30 - 17:00: Standard Oil and Rockefeller's Struggles This chapter explores the challenges faced by Standard Oil and John D. Rockefeller amidst rising industrial tensions. Leon Czolgosz, a former factory worker displaced by a business deal, finds solace in the anarchist movement. His belief that the government is conspiring against ordinary people reflects the broader societal struggles during this era.
• 17:00 - 26:30: Henry Ford's Automotive Innovations The chapter, "Henry Ford's Automotive Innovations", appears to focus on Henry Ford's perspective on economic and social inequality, potentially highlighting his intentions or efforts to address the exploitation of the poor by the wealthy, as suggested by the dramatic tone conveyed in the excerpt from the transcript.
• 26:30 - 35:00: Ford's Battle Against the Automobile Monopoly The chapter describes the chaotic and violent events surrounding the assassination of American President William McKinley, highlighting the turmoil and significant impact of this incident on the nation's history.
• 35:00 - 44:30: The Impact of New Generation of Businessmen The chapter explores the drastic change in leadership in America following the assassination of the president, who was heavily supported by influential businessmen. The unexpected transition of power to Teddy Roosevelt, described as an adversary to these businessmen, signifies a significant shift in political dynamics, likely affecting their interests and strategies.
• 44:30 - 49:00: The Age of Philanthropy The chapter discusses the unexpected rise of Mr. Roosevelt to prominence following the 1900 election. Initially, it was thought that placing him in the vice presidency would sideline him, but unforeseen events led to his swift ascendancy to a more significant role. The narrative highlights the unpredictability and rapidity of these political developments, marked by the surprising turn of events post-election.
• 49:00 - 54:00: World War I and America's Global Role The chapter discusses the emergence of America as a global power during World War I. It begins with a reference to Theodore Roosevelt, indicating a historical context of leadership in the early 20th century. The chapter sets the stage for examining changes in America's international roles and responsibilities following the swearing-in of Roosevelt as President.
• 54:00 - 52:00: Conclusion: Building Modern America The chapter discusses President Theodore Roosevelt's stance on limiting the influence of big capitalists in America, emphasizing that elected officials, chosen by the people, should hold the power rather than influential industrialists like J.P. Morgan and John D. Rockefeller. Roosevelt was determined to assert this democratic principle during his presidency.

How Henry Ford Invented the Model T | The Men Who Built America (S1, E8) | Full Episode Transcription

• 00:00 - 00:30 NARRATOR: The 20th century dawns and America holds a prominent place on the world stage for the first time. The country is now a land of opportunity. As millions flood in from around the globe, drawn by stories of men who have risen from meager beginnings to build empires. Men like Andrew Carnegie and John D. Rockefeller.
• 00:30 - 01:00 [MUSIC - BLUES SARACENO, "SAVE MY SOUL"] BLUES SARACENO: (SINGING) When I got to Memphis to put my old baby down, he said I can't take you to heaven. I can't save your soul.
• 01:00 - 01:30 I can't promise forever. Hey, yeah, got my heart in your hands. I can't feel my soul. STEVE CASC: The great entrepreneurs that really have had a significant impact in the world take a long term view. They really think about it in terms of decades, not years or months. They really believe that in the long run,
• 01:30 - 02:00 they're going to have a tremendous impact. NARRATOR: President William McKinley is re-elected to a second term. And aspiring trust buster Theodore Roosevelt is installed as Vice President, a clever play to silence his influence. With McKinley in office for another four years, John Rockefeller and J.P. Morgan have the freedom to expand their empires to unprecedented heights.
• 02:00 - 02:30 In September of 1901, President McKinley travels to Buffalo to give a speech heralding America's prosperity. But that prosperity hasn't reached everyone. Many are still struggling to survive, and they're fed up with McKinley's close relationship with big business.
• 02:30 - 03:00 Leon Czolgosz is a former factory worker who recently lost his job at a company J.P. Morgan took over during the creation of US Steel. As Czolgosz struggled, he took refuge in the growing anarchist movement. He becomes convinced that the government is helping
• 03:00 - 03:30 the rich exploit the poor. And he's determined to put an end to it. [dramatic music]
• 03:30 - 04:00 [gunshots] [screaming] Eight days after the shooting, William McKinley succumbs to his injuries, becoming the third American president to be killed in office.
• 04:00 - 04:30 For America's most powerful men, it's the worst case scenario. An assassin's bullet has robbed them of their president, a man they spent millions to get elected. And with his death, their worst enemy comes to power. Teddy Roosevelt is about to become the leader of the free world.
• 04:30 - 05:00 Mr. Roosevelt. Very good to meet you, sir. The plan of having Roosevelt buried, in effect, in the vice presidency completely backfired, because who could have predicted what would happen, and what would happen so quickly after the election of 1900?
• 05:00 - 05:30 Theodore Roosevelt, raise your right hand. Do you, Theodore Roosevelt, solemnly swear that you will faithfully execute the Office of President of the United States and to the best of your ability preserve, protect, and defend the Constitution of the United States? And thus I swear. Now, let's get started.
• 05:30 - 06:00 H.W. BRANDS: Roosevelt insisted that the big capitalists recognize that they were mere capitalists and that the elected officials of the country were the ones that the people had chosen. Nobody elected J.P. Morgan to anything. Nobody elected John D. Rockefeller to anything. But the people had, well, indirectly elected Theodore Roosevelt president. He was going to make the most of it.
• 06:00 - 06:30 NARRATOR: Roosevelt quickly launches a campaign against the nation's largest trusts, and his first target is a railroad conglomerate owned by J.P. Morgan. H.W. BRANDS: Morgan demanded to see the president. So he stormed down from New York to Washington, went into the White House. And he said, I don't understand. He said, if we've got a problem, send your man to my man, and they'll fix it up. And Roosevelt said, this is exactly
• 06:30 - 07:00 the problem with Morgan. He acts as though I'm just a rival boss or something. And Morgan, who thought that he could manipulate Roosevelt, discovered that Roosevelt could not be manipulated at all. NARRATOR: Roosevelt refuses to back down from Morgan. He sues his company in federal court. The first government anti-trust case filed against a major corporation. Roosevelt goes on to win, and Morgan's railroad monopoly
• 07:00 - 07:30 is broken up. It's a stunning setback for J.P. Morgan, one he'll agonize over for years. And it's a sign of things to come for his fellow titans. Roosevelt is elected to a second term, and over the course of his administration, he filed suit against dozens of trusts. It's a time of great change for the nation.
• 07:30 - 08:00 J.P. Morgan, John Rockefeller, and Andrew Carnegie suddenly find themselves as members of an old guard, aging titans forced to defend their fading empires. But as other monopolies fall, one target refuses to go down. John D. Rockefeller's Standard Oil has managed to hold off a breakup over multiple administrations.
• 08:00 - 08:30 But Rockefeller won't be able to hide forever. Standard Oil got the reputation as the most hated company in America. It became literally the symbol for big business evils. It was an example of big businesses getting way too much power and nothing or no one available to restrain them.
• 08:30 - 09:00 NARRATOR: The government filed suit against Standard Oil in what promises to be the biggest antitrust case of all time. And the government is hoping their lead witness will be John D. Rockefeller himself. The feds issue a subpoena and Rockefeller goes on the run from California to Maine to Key West. The most powerful man in America has become a fugitive
• 09:00 - 09:30 from justice. He went all over the country escaping served subpoenas. He was constantly running from the law. NARRATOR: Rockefeller avoids the subpoenas for months, but life intervenes. [baby crying] His son, John Jr. and his wife, welcome the first Rockefeller
• 09:30 - 10:00 grandson into the world. Still on the run from the subpoena, Rockefeller is unable to travel to see his grandchild, and the absence is unbearable. I'm only here for one day. And once I'm gone, I am gone. I may not be back. NARRATOR: Rockefeller knows what it's like to be abandoned. Never trust anybody, son.
• 10:00 - 10:30 Not even me. NARRATOR: And he's not going to let this case tear his family apart. He turns himself in, agreeing to testify in court in defense of Standard Oil and in defense of an entire way of business he helped create.
• 10:30 - 11:00 The case will be the biggest challenge of Rockefeller's life. A fight that will determine the future of the country. As Rockefeller is forced to defend a company he built from nothing into one of the most powerful
• 11:00 - 11:30 corporations on Earth. Buy now. Everything. Buy the whole company. [background chatter]
• 11:30 - 12:00 The United States versus Standard Oil. This hearing is now in session.
• 12:00 - 12:30 Please state your name. John Rockefeller. Mr. Rockefeller, can you tell the court how in just one year in 1872 you acquired all the refineries in Cleveland? I don't remember. It was 36 years ago. JUDGE: You used intimidation to wipe out the competition,
• 12:30 - 13:00 did you not? I mean, so ruthlessly that it became known as the Cleveland Massacre? I don't remember any massacre. JUDGE: Are you aware of payments made by Standard Oil to a senator $15,000 to block a bill hostile to Standard Oil? I don't remember. JUDGE: We have a list of bribes made by Standard Oil
• 13:00 - 13:30 to politicians between 1903. I stepped down as Chief Executive of Standard Oil in 1902. I can't answer for any incidents that occurred after that date. You are still President of Standard Oil, are you not? It's an honorary title, much like that of President of the United States. [laughter] JUDGE: Can I remind you, Mr. Rockefeller, of the seriousness of the charges brought against you? NARRATOR: As John Rockefeller fights
• 13:30 - 14:00 to keep his monopoly intact, a new generation of businessmen is facing a new set of challenges, as they struggle to get their companies off the ground. I have set out to build the best motorcar for popular use. The Ford Motorcar is durable and light, weighing only 1,000 pounds. It has a four cylinder engine and is capable of speeds up to 45 miles an hour.
• 14:00 - 14:30 It is priced at $900, compared to $1,500 for the average licensed car, which makes it the first car affordable for the common man. NARRATOR: Young entrepreneur Henry Ford has created a new kind of car. But in order to sell it, he needs to get permission from the Association of Licensed Automobile Manufacturers, also known as ALAM.
• 14:30 - 15:00 ALAM owns the patent on the automobile, giving them complete control over who can manufacture and sell cars. They are, in a sense, a giant car monopoly. And Ford's future now rests in their hands. Thank you, Mr. Ford. We'll be in touch. Thank you, gentlemen. NARRATOR: Ford is hopeful he'll be approved by ALAM, allowing him to start his own business and to pursue his dream for the future of the car industry.
• 15:00 - 15:30 When Ford entered the automobile business, people didn't drive their own cars. They had drivers. And so cars were seen as this luxury item. Ford's insight was that cars could be an everyday item. They could be very utilitarian. So that it was within the reach of ordinary people. NARRATOR: Ford has spent years developing his car for the common man.
• 15:30 - 16:00 He builds his first model at the age of 33 and calls it the quadricycle. But the vehicle is expensive to produce and prone to breaking down. Ford's second attempt, the Model A, is much more suited to the needs of modern America. But he can't begin selling it without permission from ALAM.
• 16:00 - 16:30 STEVEN WATTS: ALAM was successful in blackmailing other automobile companies saying, you have to be licensed by us, or we will sue you, and we own this patent. NARRATOR: After months of deliberation, the ALAM board reaches its decision. Henry Ford's application is rejected. It's a crushing blow.
• 16:30 - 17:00 The auto cartel has stopped him in his tracks. But Henry Ford is determined to show the world that to succeed in America, all you need is integrity and ingenuity. America has emerged onto the world stage, rebuilt over the past five decades by John Rockefeller, Andrew
• 17:00 - 17:30 Carnegie, and J.P. Morgan. They've reigned uncontested for years. Only now the government is cracking down on big business in a big way. But the next generation of businessmen is on the rise. Henry Ford is battling a powerful cartel for the right to make a car he believes in.
• 17:30 - 18:00 The Association of Licensed Automobile Manufacturers owns the patent on the automobile, and budding car makers like Henry Ford need its permission to sell cars. After being rejected by ALAM, Ford is left with few options.
• 18:00 - 18:30 But he isn't about to give up on his dreams. STEVEN WATTS: Ford thought that the whole thing was ridiculous, that there could not be a patent on the idea of the automobile, but the automobile was not the property of one single individual. NARRATOR: Ford is determined to get around ALAM's stranglehold on the auto industry. But he's just one man going up against a virtual monopoly.
• 18:30 - 19:00 If he's going to be a success without ALAM, he's going to need to make a name for himself. DONNY DEUTSCH: It's a very simple thing on the make or break decisions. It's the gut. And that's what separates the great leaders and the great successes. And if you can't listen to it and you don't have it, you're never going to get it, because it's never going to come from someplace else. NARRATOR: Henry Ford challenges the owner of the biggest car
• 19:00 - 19:30 company in the country to a race. Alexander Winton is also known as the fastest driver in America and a prominent member of ALAM. Beating Winton with a car of his own design has the potential to give Ford the boost he needs to start his own company. There's just one problem. Henry Ford has never raced a car before.
• 19:30 - 20:00 It's a David and Goliath scene. Winton's famous world record holder has this fancy race car, Ford the local boy made good. [dramatic music]
• 20:00 - 20:30 NARRATOR: Henry Ford's upset win over the fastest man in America
• 20:30 - 21:00 makes him instantly famous.
• 21:00 - 21:30 Ford is a hero, and this is really the first big time I think that he becomes a celebrity. The Ford name gets out there, and he milks it for everything that it's worth. And it was a very crucial part for getting investors for the Ford Motor Company. NARRATOR: Ford raises $28,000 or $700,000 today,
• 21:30 - 22:00 enough money to build his first factory in Highland Park, Michigan. And before long, he's producing 15 cars a day, priced low enough for almost any American. STEVE CASC: When it finally does break through, it is sort of gratifying, because you're starting to see the reality of what you always believe, that the vision you had that someday the world would be different is starting to move in that direction.
• 22:00 - 22:30 NARRATOR: Henry Ford's early success puts him on the map. But ALAM takes notice and hits him with a lawsuit, claiming he's breaching their patent on the automobile. MARK CUBAN: You see all these huge conglomerations suing people over patents. The big guys are taking advantage of the little guys, trying to find whatever angle they could and using their might, and those with the best tricksters win.
• 22:30 - 23:00 NARRATOR: While Henry Ford prepares to bring his fight for the little guy to a Detroit court, the trial to bring down Standard Oil is starting to get ugly. JUDGE: Mr. Rockefeller, we have evidence that you priced several refineries out of business.
• 23:00 - 23:30 Not to my knowledge. JUDGE: Do you accept that Standard Oil has enjoyed a profitability higher than most industries? Our profitability is no higher than that of US Steel. I haven't heard of anyone attempting to break up US Steel. NARRATOR: While Rockefeller is fighting to save his company,
• 23:30 - 24:00 J.P. Morgan has been able to keep his steel monopoly off the government's hit list. He's used his power and influence to broker a number of deals for the nation, applying the might of US Steel to strengthen the country's infrastructure. But Morgan's biggest deal is just getting started in Central America. For years, attempts have been made
• 24:00 - 24:30 to build a canal linking the Atlantic and Pacific Oceans. Such a canal would cut east to west travel time in half, saving ships over 8,000 miles per trip. But no one's had the power to make it happen. J.P. Morgan acts as the middleman for the government and raises $40 million, or $7 billion today,
• 24:30 - 25:00 to get the project started. The Panama Canal is the most ambitious construction project the United States has ever undertaken. Over 75,000 workers labor in brutal heat, fighting off deadly diseases, digging a canal 51 miles from the Atlantic to the Pacific.
• 25:00 - 25:30 To assemble the manpower and the material and the finances to cut a swath through the middle of Panama and join the Atlantic Ocean with the Pacific Ocean, only an industrially sophisticated nation could do that. NARRATOR: The Panama Canal embodies everything that makes America the most powerful country on the planet.
• 25:30 - 26:00 Built on steel, powered by electricity, and running on gasoline. And it's all made possible due to the financial might of one of the country's most powerful men. But the age of monopoly is still on trial, and the unchallenged power the titans have used to amass their empires is not going to last forever.
• 26:00 - 26:30 Decades of unprecedented growth have transformed America into an industrial superpower. The change has been driven by some of the largest companies the world has ever seen. US Steel, Standard Oil, and General Electric.
• 26:30 - 27:00 But it also comes with a cost. Workers are outraged over dangerous conditions at factories across the country. Nobody will break us, nobody! NARRATOR: And the gap between the rich and the poor is bigger than it's ever been. Many are convinced that America's largest companies are holding the country back. The age of monopoly is under threat.
• 27:00 - 27:30 SUMMER REDSTONE: I hate monopolists. I fought monopolies all my life. I always wanted an even playing field, but I had to fight for an even playing field for myself. NARRATOR: Over a 40 year career, John Rockefeller used innovation and ingenuity to create a corporate empire unlike any the world has ever seen.
• 27:30 - 28:00 But he was also notoriously ruthless, and many believe he went too far. For John D. Rockefeller, judgment day is here in what's become the trial of the century, The People versus Standard Oil. The picture painted of Standard Oil is a depressing one.
• 28:00 - 28:30 No trust in the history of America has been so destructive in its pursuit of profit. Time and time again, we have heard how Standard Oil has used secret kickbacks from the railroads, been routinely engaged in predatory pricing, used intimidation and exclusive sales territories to put refineries out
• 28:30 - 29:00 of business. For over 30 years, Standard Oil has been on a mission took crush its competition and establish itself as a monopoly to hoist up the price of kerosene. Mr. Rockefeller, before the court renders its decision, do you have anything you wish to say?
• 29:00 - 29:30 JOHN ROCKEFELLER: When I came into the oil industry, there was chaos. I brought order. I took a second rate, inefficient market and built an industry. It was done the way it was because that's the way it had to be done. No one complained when I brought light into every home.
• 29:30 - 30:00 No one complained when I provided thousands of jobs or millions of dollars from exports. Oil is what this country runs on. You call it monopoly. I call it enterprise. Now, you tell me, why am I here?
• 30:00 - 30:30 [crowd murmuring] NARRATOR: As the court adjourns to deliberate, Rockefeller can only await his company's fate. Hundreds of miles away, a new kind of businessman,
• 30:30 - 31:00 Henry Ford, also waits. A panel of federal judges will decide whether Ford can continue to freely manufacture and sell his Model A car. The Association of Licensed Automobile Manufacturers is suing Ford for a royalty on every car he sells. Ford knows those royalties would drive up the cost of his car,
• 31:00 - 31:30 putting it out of reach for the average consumer. For most early car makers, the lawsuit would be a devastating setback, but for Ford, it's something different. An opportunity. STEVE CASC: People react to failure in one of two ways. Either they get scared and give up or they take that failure as a learning experience, and they kind of use that experience
• 31:30 - 32:00 to redouble their efforts. NARRATOR: Ford is convinced the era of unchecked monopolies is over. So as his lawsuit winds its way through court, he openly defies the order from ALAM and continues building and selling his cars. He believes there's a better way to conduct business in America, and he's determined to make it a reality.
• 32:00 - 32:30 STEVEN WATTS: Henry Ford was able to position himself as an anti-monopolist really in a certain way as a kind of antithesis of the Rockefellers and the Carnegies. He is the kind of heroic individual entrepreneur who believed in competition, who believed in developing a product and bringing it to the people. NARRATOR: Ford begins paying his workers a livable wage, $5 per day, more than double the rate of most US factories.
• 32:30 - 33:00 But Ford isn't just paying his workers better. He's also getting more out of them. He innovates a new system for producing cars. Rather than hand crafting each car one at a time, his are assembled by a line of workers piece by piece. It's called the assembly line, and it completely changes manufacturing forever.
• 33:00 - 33:30 H.W. BRANDS: Ford didn't invent mass production, but he perfected mass production. He understood that a complicated product like an automobile could be simplified and could be made less expensive if the same thing was produced again and again and again. NARRATOR: Using the assembly line, Ford workers can build cars up to eight times faster than any other automobile factory in the world.
• 33:30 - 34:00 What once took 12 hours to assemble now takes an hour and a half. The innovation allows Ford to standardize the eight hour workday, five days per week. But for Ford to continue to innovate, he'll need to win his lawsuit. His fate, like John Rockefeller's, now rests in the hands of a federal court.
• 34:00 - 34:30 Henry Ford and John D. Rockefeller are two American icons from different generations on opposing sides of a battle for the country's future. As the verdicts come in, American business will never be the same.
• 34:30 - 35:00 America is becoming the most powerful nation on Earth, transformed from a post Civil War wasteland into a budding superpower by a group of visionaries who battled the impossible to build unimaginable empires that have brought the country into the 20th century. STEVE CASC: With all the great entrepreneurs, it was a mix of believing in an idea,
• 35:00 - 35:30 but they also recognized that they had to do some things to take that idea and make it real. NARRATOR: After decades of doing whatever it took to crush the competition, John D. Rockefeller is fighting to save the company he built from nothing into one of the largest and most dominating corporations on the planet.
• 35:30 - 36:00 MAURY KLEIN: Big business is a dangerous thing in the eyes of many because of the power it wields. NARRATOR: The biggest anti-trust trial of all time is about to reach a verdict. 444 witnesses have taken the stand. 12,000 pages of testimony have been recorded. But in the end, it all comes down
• 36:00 - 36:30 to the testimony of one man. JOHN ROCKEFELLER: You call it monopoly. I call it enterprise. NARRATOR: John Rockefeller has done all he can to keep his monopoly intact. But the fate of Standard Oil is out of his control. [bangs gavel] In the case of the United States against the Standard Oil Company, this hearing has reached a decision.
• 36:30 - 37:00 This court determines against the Standard Oil Trust on account of its unreasonable business practices, which are in violation of the Sherman Anti-trust Act. The Standard Oil Trust must be broken up within six months. [bangs gavel]
• 37:00 - 37:30 [crowd yelling] Mr. Rockefeller, is this the end of Standard Oil? NARRATOR: John Rockefeller's Standard Oil is completely dismantled, broken up into 34 smaller companies.
• 37:30 - 38:00 The age of monopoly is over. The takedown of Standard Oil bodes well for the rising guard of a new generation of businessmen, most of all, Henry Ford. Ford awaits the future of his company after the powerful auto cartel ALAM charged him with breaching
• 38:00 - 38:30 their patent on the automobile and tried to shut him down. It's a potentially life changing moment, not just for Ford but for the future of every industry in the country. In a surprise decision, the court rules in favor of Henry Ford. ALAM has no legal claim to the design of the car.
• 38:30 - 39:00 Henry Ford is free to innovate without repercussion. Well guys, that was it. Let's go sell some cars. NARRATOR: Ford's dream is made a reality. The car belongs to everyone. STEVEN WATTS: Ford's success put him forward in American life as a new kind of business man, but in crucial ways,
• 39:00 - 39:30 unlike Rockefeller and Carnegie, he wasn't trying to gain a monopoly. He was trying to bring a product to the people. The American population ate this up, and they made Henry Ford a kind of folk hero. NARRATOR: Ford seizes the momentum, and his factories go into overdrive. His assembly lines start producing a revolutionary new car at a record rate. It's called the Model T, and it costs only $825.
• 39:30 - 40:00 For the first time, a car the common man can afford. MAURY KLEIN: Henry Ford created what became the most important industry in the American economy. He had no idea of the enormous impact it would have on almost every sector of American life. He literally changed America.
• 40:00 - 40:30 The way we live, the way we do things, and the way we go about our business. NARRATOR: Ford's reputation won't always be so positive, but his revolution inspires an entire generation of visionaries who will transform the fabric of American life. Childhood friends William Harley and Arthur Davidson attach an engine to a bicycle and begin selling motorcycles
• 40:30 - 41:00 to the masses. Milton Hershey applies Henry Ford's assembly line model to the mass production of chocolate. Chicago merchant William Wrigley takes his chewing gum national. And in Hollywood, Polish immigrant Max Factor begins distributing cosmetics for movie stars to drug stores across the country, inventing a completely new consumer
• 41:00 - 41:30 product, makeup. This new breed of businessman is doing things a different way. They're creating products for the masses while paying their employees a livable wage with safe working conditions and a standard 40 hour work week. The era of Rockefeller, Carnegie, and Morgan
• 41:30 - 42:00 looks like it may have come to an end. But America's three most powerful men are just as relevant as ever before. Standard Oil gasoline stations appear across the country, fueling Henry Ford's cars, cars that are built using Carnegie's
• 42:00 - 42:30 steel in factories powered by J.P. Morgan's electricity. The new breed of businessman may be doing things differently from their predecessors, but their innovations wouldn't be possible without the groundwork laid by men like Cornelius Vanderbilt, Andrew Carnegie, J.P. Morgan,
• 42:30 - 43:00 and John D. Rockefeller. The result is broad prosperity shared throughout the country and perhaps America's greatest innovation yet, a thriving and prosperous middle class. CHARLES SCHWAB: The Industrial Revolution created the development of the middle class. It created wealth that we never would have imagined possible
• 43:00 - 43:30 before. NARRATOR: John Rockefeller may have lost his court case, but the smaller companies created from Standard Oil will go on to become corporate giants, with names like Exxon, Mobil, and Chevron. And John Rockefeller is a shareholder in each new company.
• 43:30 - 44:00 It's ironic, isn't it? I mean, it's a great moment in American history, and it established the principle that monopolistic practices should not be for the future. And that sounds really good, except now they were all separate, and my great grandfather had large amounts of stock and every one of them. He made more money than he ever made in his life. The effect on John D. Rockefeller was absolutely blissful from his point of view.
• 44:00 - 44:30 NARRATOR: Even in defeat, John Rockefeller becomes the richest man in the history of the world, with a net worth of almost 660 billion in today's money. With the stranglehold of the monopolies over, Americans now realize that anything is possible as long as they work together. The nation is more powerful than ever, and that power will soon be needed.
• 44:30 - 45:00 On a brisk spring morning two years after the breakup of Standard Oil, John Rockefeller joins his old rival Andrew Carnegie to mourn the loss of one of their own.
• 45:00 - 45:30 Less than a month from his 76th birthday, J.P. Morgan dies in his sleep. Morgan leaves such a mark on American finance that the New York Stock Exchange shuts down, an honor normally reserved for the passing of a president. RICHARD PARSONS: J.P. Morgan certainly was the foremost name in banking in terms of creating modern finance.
• 45:30 - 46:00 And you can't have modern economy without a modern effective, functioning banking system. He was as influential as any of the titans of that day. NARRATOR: While the old rivals once saw each other as cutthroat competitors, now
• 46:00 - 46:30 in their twilight years, the fathers of American business have found a mutual respect. For Rockefeller and Carnegie, Morgan's passing is a reminder. Time is running short. And the realization triggers a new contest. No longer is there competition about who makes more money.
• 46:30 - 47:00 Now the question is, who can give more away? H.W. BRANDS: Andrew Carnegie was the first of the big capitalists of this era to be bitten by the philanthropy bug. He decided that he was going to use his wealth to good purpose. And he said that a man who dies rich dies disgraced. Andrew Carnegie was not a very popular man among his millionaire friends, because he demanded
• 47:00 - 47:30 that the millionaire has to give away all of his money. T. BOONE PICKENS: There's nothing wrong with making a lot of money. Making money is fun. I enjoy that very much. But I enjoy giving away money even more so. NARRATOR: Carnegie gives away more than $350 million, $67 billion today. Most goes to education and his favorite cause, libraries.
• 47:30 - 48:00 As more than 2,500 Carnegie libraries are built in 49 states and around the world. But even in this contest, Carnegie will be bested by his old rival. John Rockefeller will outlive Carnegie by 13 years. That time and his greater worth allows him to give away more money than Carnegie is ever able to.
• 48:00 - 48:30 Throughout his life, Rockefeller has donated millions to his church and numerous universities. At the age of 73, he creates The Rockefeller Foundation with a personal endowment of $100 million, the equivalent of $38 billion today. That money will go on to advance public health around the world
• 48:30 - 49:00 for decades. JOHN D. ROCKEFELLER IV: My great grandfather, he went full bore into philanthropy. Whether that was a duty under sort of a Baptist stricture or whether it just came pouring out of him, I'm just not sure, but it doesn't make any difference. He did it. NARRATOR: John Rockefeller will live to be 97 years old and gives away more than $530 million in his lifetime, gifts
• 49:00 - 49:30 that today would total over $1 billion. I look at Carnegie, I look at what Rockefeller did, and I revere these people for the second half of their lives. And they certainly are inspirations to people who manage to be able to accumulate some wealth and want to be able to say, you know what, I now want to help others. NARRATOR: As the nation heads deeper into the 20th century, millions of Americans for the first time
• 49:30 - 50:00 ever are able to take part in the American dream, employed in well-paid and safe jobs, manufacturing products they themselves can now afford. The country is united with a robust economy that benefits not just the rich, but everyone. It's the beginning of one of the longest periods of prosperity America will ever see. RICHARD PARSONS: It wasn't by accident that the 20th century
• 50:00 - 50:30 became the American century. America made the greatest strides in terms of harnessing these new technologies. We simply could outproduce any other nation in this world by the time the 20th century rolled around, and that clearly put us in a position to drive the global agenda. It's on the back of the Industrial Revolution. NARRATOR: But as World War I breaks out in Europe,
• 50:30 - 51:00 the world looks for help. It looks to America. Just 50 years removed from the ashes of the Civil War, America has become a global superpower. By April of 1917, the country enters the war, sending troops, supplies, and weapons, resources that will
• 51:00 - 51:30 help bring peace to the world. But those resources would have never been possible without the contributions of a small group of visionary men, men who sparked a revolution that forever changed America. America was transformed by the vision,
• 51:30 - 52:00 the incredible hard work and determination, and the willingness to take big risks that these men displayed. There is also no question that these men could not have done what they did anywhere else but America, because this place allows more people to dream than any other place in the world. All that matters is how big do you want to dream and how hard do you want to work?
• 52:00 - 52:30 NARRATOR: From a broken country into the most powerful nation on Earth. They didn't discover this modern America. They built it.