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 What is the main purpose of a corporation?  What are the advantages of a corporation?  What is pooling?  What is a trust?  What is the Sherman Antitrust.

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Presentation on theme: " What is the main purpose of a corporation?  What are the advantages of a corporation?  What is pooling?  What is a trust?  What is the Sherman Antitrust."— Presentation transcript:

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2  What is the main purpose of a corporation?  What are the advantages of a corporation?  What is pooling?  What is a trust?  What is the Sherman Antitrust Act?  The term Robber Baron was used to criticize the actions of what group of people.  Define Social Darwinism? What was it used to justify in this pool?  What is the main purpose of antitrust laws?  What is vertical integration? What is horizontal integration?  What is Andrew Carnegie known for?  What is John D. Rockefeller known for?

3  Patent Laws: The Constitution gives Congress the power to issue patents to inventors.  Corporate business organizations: sell shares in business to raise capital. Limited Liability shareholders.  Corporations could raise significant amounts of capital needed for investment in industrial projects such as railroads.

4  Setup other forms of businesses to limited competition  Pools: competing companies in one field make an agreement to fix prices and divide business.  Trusts: group of corporations combine under a single board that controls the actions of all member corporations-stockholders have no say in the operations

5  Sherman Anti-Trust Act: designed to increase competition and end monopolies or any other business practice that restrain trade or competition

6  Made their fortunes by stealing from the public.  Were not regulated by government and did whatever they could to make as much money as possible.  Believed in Social Darwinism. Survival of the fittest/ used to justify predatory practices of big business  Believed in Laissez Faire Economics: no taxation of business or regulation

7 Coal mines Iron mines Limestone quarry Shipping facilities Steel mill Vertical Integration

8 Integrated Steel Company Independent steel mills Independent steel mills are taken over by one large steel company. Destroys competition


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