Big Business The American Dream or the American Nightmare

Captains of Industry or Robber Barons  John D. Rockefeller  Oil  Andrew Carnegie  Steel  Cornelius Vanderbilt  Railroads  Gustavus Swift  Meat packing  J.P. Morgan  Money Man

Questions  Give examples of differences between the big and small business.  Why do you think those differences exist?  Do you and your family shop at big business or small business? Why?  Why do you think big business is able to sell their product at a lesser cost?  Which size of business do you think the government supports more? Why?

Business Practices  Social Darwinism  Monopolies, Trusts, and Conglomerations  Waste not, want not  Efficiency  Gospel of Wealth

Government Reaction  Laissez-faire  Munn v. Illinois – States regulate private property if it effected public interest  Wabash Case - over turned Munn v. Illinois. States can’t regulate interstate commerce.  Interstate Commerce Commission - Interstate commerce regulated by the Federal Government  Sherman Anti- Trust Act – prohibited monopolies or trusts. Easy to get around

Working Conditions