Working on presentations:Chapter 6 Lesson 1; Busniness and Labor;-Tell me about Andrew Carnegie.-Tell me about John D. Rockefeller.-What was Social Darwinism and how did it apply to business?-Explain how companies formed monopolies(vertical/horizontal integration, trusts).----Sherman anti trust Act.( shown below)-How did the government try to regulate business?---Regulate bussnesses by stating unfair-What are labor unions and what is their purpose?---people working in a common union. Combine to try to get laws passed that would benefit them.Were labor unions successful in achieving their goals? Explain/Give examples.---At first no, struggled in the beginning.Andrew Carnegie; Became the first person to make a fortune buying stock. Created the Carnegie Steel Company in 1899; When he sold his business in 1901 he was the beggest steel producer in the US. Sold his company for 2 billion.Sherman Anti Trust Act; Started in 1890. It made it illegal to form a trust that interfaced with trade with coundries or states. Monopoly is when a company tries to control. trust- Monopoly. antitrust- antimonopoly.Social Darwism; grew off of Charles Darwin's theory of biological evolution. Herbert Spencer an English philosipher used Darwin's theory to explain the evolution of human society. Big busnesses took over the littler busnesses.John D. Rockefeller; The standar Oil Company of Ohio; Started by John D. Rockefeller. 1890; company produced 89% of the nations crude oil. Rockefeller started poor and became rich. Carnegie and Rockefeller were captains of industry or robberbearons; Good because they Provided jobs for millions of americans. Robberbearons because they drove smaller busnesses out of busness and payed workers poorly.Labor; Steel mills employed most of the workers. People as young as 5 years old had a job.Strikes; In 1877; workers of Boltimore and Ohio railroads started a strike because of a 2nd wage cut in tow months. Freight was stopped for more than a week. Freight was stopped for more thatn a week.
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