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Published byRandolf Wade Modified over 9 years ago
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Private companies freely competing with each other with little or no government regulation
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Exclusive control of one section of business, such as all rail roads, or mines.
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A type of business where shares of stock are sold to investors who own part of the business and share its profit.
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A board or committee that helps to make business choices, and are able to control member corporations.
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The act of becoming one unit or union
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Expanding in one area of production/industry Oil rich land Oil drills Oil refineries Transportation
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Gaining control of all steps of an industry (raw material to finished good) Iron ore mines Coal mines Steel factories/mills Transportation (RR, ships)
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Survival of the fittest and smartest in the business world
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Idea that business should be free of government regulation (“hands off”)
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When a wealthy person in the business world uses his money to help better man kind.
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The public calls for action against wealthy businessmen they refer to as “Robber Barons” Amer. Business man who got wealthy by unethical means
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Made all monopolies of trade illegal Not enforced
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Regulated railroad rates and made rebates illegal Similar to kickbacks return some $ because of confidential agreement
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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)
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Low Wages Easy availability of workers, leads to lower wages No minimum wage laws
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Poor lighting, heating and ventilation No safety standards Child labor
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“Sweatshops” Tried to get more production out of workers and forced them to work 12 – 15 hour days
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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
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Haymarket Riot A strike in Chicago which turned into riot People Riot was blamed on the Knights of Labor
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AFL Pinkertons http://www.history.com/topics/an drew-carnegie/videos/andrew- carnegie-and-the-homestead- strike
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40% Injunction Court order forcing you back to work
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President during completion of Transcontinental Railroad Built by the Irish & the Chinese
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Election ended in Reconstruction
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Assassinated by an unbalanced lawyer
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Passed the Pendleton Civil Service Act for which Garfield was assassinated for promoting.
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First Democratic President Former mayor of Buffalo Believed in laissez-faire (gov’t is hands off business)
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Raised tariffs to highest level ever
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Only President to serve two terms that were not consecutive Tried to reduce tariffs but Congress overrode
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Horizontal & Vertical Integration Laissez – faire Social Darwinism Anti-trust Sherman Anti-trust Act Interstate Commerce Act Collective bargaining Injunction Arbitration
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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
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