1. Laissez-Faire
-idea that the government will stay out of the interests of people and businesses-

2. Monopoly
-business which controls the supply of a particular product

3. Merger / Trusts
-Merger-two or more companies join to form one
-Trust- several business act as if one

4. Regulation
-public call to regulate monopolies
-Sherman Act, 1890
-Clayton Act, 1914

5. Public Utilities
-some monopolies are allowed
-their prices are regulated by government

6. Conglomerates
-business that supplies a large variety of products
-may become too powerful

7. Deregulation
-Idea that the government should reduce the amount of government regulation

8. Cooperation
-Government also tries to help business interests

9. Worker’s Conditions
-Working Conditions

10. Labor Unions
-Labor Unions are groups of workers
-Goal of Unions??

11. Collective Bargaining
-the ability of a group of workers to bargain together as a group
-Advantages-

12. Labor Union Methods
-Collective Bargaining
-Strikes
-Picketing
-Sit-downs
-Slowdowns

13. Employer Methods
-Court Injunctions
-Blacklists
-Lockouts

14. NLRB
-National Labor Relations Board
-Made Union activity a right
-Government acts as mediator between unions and employers

15. Union Limitations
Union Practices Banned
-Closed Shop—job where only union members are allowed to work
-Featherbedding—practice of keeping too many workers

16. Today’s Labor Unions
-Unions are weaker than in the past
-Taft-Hartley Act, 1947
-Right to Work Laws
Open Shop

17. Negotiations
-Mediation— 3rd party negotiation where both parties are under no obligation
-Arbitration— negotiations where both sides are to bound to the 3rd party decision