Unit 4 Review.

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Presentation transcript:

Unit 4 Review

Unit 4 Review Corporations – Post Civil War – limited liability Monopolies – Eliminate competition Sherman Anti-trust Act – 1st attempt, ineffective Interstate Commerce Act – Limit power of railroads to set rates

Unit 4 Review Laissez Faire – No govt. interference in business Social Darwinism – Survival of fittest in business Gilded Age – A few enjoy great wealth, many are poor Mass Production & Assembly Line – Ford

Unit 4 Review Robber Barons vs. Captains of Industry – Positive and negative views of business leaders Free Enterprise System – Businesses compete, succeed & fail Rural to Urban population movement – Migration, agricultural to industrial Rockefeller, Carnegie, Morgan – Capitalists, used cutthroat tactics

Unit 4 Review Philanthropists – Gave away money, libraries Knights of Labor – Skilled & unskilled labor – failed American Federation of Labor – Skilled only – succeeded Samuel Gompers – Leader of AFL Strikes – Early ones were violent & unsuccessful