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 Private companies freely competing with each other with little or no government regulation.

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Presentation on theme: " Private companies freely competing with each other with little or no government regulation."— Presentation transcript:

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2  Private companies freely competing with each other with little or no government regulation

3  Exclusive control of one section of business, such as all rail roads, or mines.

4  A type of business where shares of stock are sold to investors who own part of the business and share its profit.

5  A board or committee that helps to make business choices, and are able to control member corporations.

6  The act of becoming one unit or union

7  Expanding in one area of production/industry  Oil rich land  Oil drills  Oil refineries  Transportation

8  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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10  Survival of the fittest and smartest in the business world

11  Idea that business should be free of government regulation (“hands off”)

12  When a wealthy person in the business world uses his money to help better man kind.

13  The public calls for action against wealthy businessmen they refer to as “Robber Barons”  Amer. Business man who got wealthy by unethical means

14  Made all monopolies of trade illegal  Not enforced 

15  Regulated railroad rates and made rebates illegal  Similar to kickbacks  return some $ because of confidential agreement

16  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)

17 Low Wages  Easy availability of workers, leads to lower wages  No minimum wage laws

18  Poor lighting, heating and ventilation  No safety standards  Child labor

19  “Sweatshops”  Tried to get more production out of workers and forced them to work 12 – 15 hour days

20 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

21 Haymarket Riot  A strike in Chicago which turned into riot  People  Riot was blamed on the Knights of Labor

22  AFL  Pinkertons http://www.history.com/topics/an drew-carnegie/videos/andrew- carnegie-and-the-homestead- strike

23  40%  Injunction  Court order forcing you back to work

24  President during completion of Transcontinental Railroad  Built by the Irish & the Chinese

25  Election ended in Reconstruction

26  Assassinated by an unbalanced lawyer

27  Passed the Pendleton Civil Service Act for which Garfield was assassinated for promoting.

28  First Democratic President  Former mayor of Buffalo  Believed in laissez-faire (gov’t is hands off business)

29  Raised tariffs to highest level ever

30  Only President to serve two terms that were not consecutive  Tried to reduce tariffs but Congress overrode

31  Horizontal & Vertical Integration  Laissez – faire  Social Darwinism  Anti-trust  Sherman Anti-trust Act  Interstate Commerce Act  Collective bargaining  Injunction  Arbitration

32  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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