Private companies freely competing with each other with little or no government regulation
Exclusive control of one section of business, such as all rail roads, or mines.
A type of business where shares of stock are sold to investors who own part of the business and share its profit.
A board or committee that helps to make business choices, and are able to control member corporations.
The act of becoming one unit or union
Expanding in one area of production/industry Oil rich land Oil drills Oil refineries Transportation
Gaining control of all steps of an industry (raw material to finished good) Iron ore mines Coal mines Steel factories/mills Transportation (RR, ships)
Survival of the fittest and smartest in the business world
Idea that business should be free of government regulation (“hands off”)
When a wealthy person in the business world uses his money to help better man kind.
The public calls for action against wealthy businessmen they refer to as “Robber Barons” Amer. Business man who got wealthy by unethical means
Made all monopolies of trade illegal Not enforced
Regulated railroad rates and made rebates illegal Similar to kickbacks return some $ because of confidential agreement
Political machines controlled the cities Boss Tweed Tammany Hall Government corruption Spoils System Pendleton Civil Service Act – Hired and promoted people based on how they scored on exams. (tried to stop spoils system)
Low Wages Easy availability of workers, leads to lower wages No minimum wage laws
Poor lighting, heating and ventilation No safety standards Child labor
“Sweatshops” Tried to get more production out of workers and forced them to work 12 – 15 hour days
Knights of Labor American Federation of Labor Industrial Workers of the World Founder DateUriah Stephens 1869 Samuel Gompers 1886 William Haywood 1905 Members Craft, industrial; skilled & unskilled; whites & minorities Skilled workers (a union of unions) Women & minorities Goals8-hour work day High wages Shorter hours Better working conditions SuccessesWon a major strikeCollective bargainingWon a textile strike Problems Prejudice Too much attention on political goals Racist Attitude Discrimination Reputation for violence
Haymarket Riot A strike in Chicago which turned into riot People Riot was blamed on the Knights of Labor
AFL Pinkertons drew-carnegie/videos/andrew- carnegie-and-the-homestead- strike
40% Injunction Court order forcing you back to work
President during completion of Transcontinental Railroad Built by the Irish & the Chinese
Election ended in Reconstruction
Assassinated by an unbalanced lawyer
Passed the Pendleton Civil Service Act for which Garfield was assassinated for promoting.
First Democratic President Former mayor of Buffalo Believed in laissez-faire (gov’t is hands off business)
Raised tariffs to highest level ever
Only President to serve two terms that were not consecutive Tried to reduce tariffs but Congress overrode
Horizontal & Vertical Integration Laissez – faire Social Darwinism Anti-trust Sherman Anti-trust Act Interstate Commerce Act Collective bargaining Injunction Arbitration
Bread & butter goals Labor Unions Knights of Labor American Federation of Labor Industrial Workers of the World Gov’t & American public did NOT support unions