Chapter Six Three ContinuedQuestions:-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).-How did the government try to regulate business?-What are labor unions and what is their purpose?-Were labor unions successful in achieving their goals? Explain/Give examplesAnswers to question one:-born in Dunfermline, Scotland-came to america in 1848-prive secretary to the locval superintendent of the Pennsylvania railroad-looked forw as to make a good product cheaply-attracted talented people and offered them stock-controlled almost the whole steel undustry-vertical and horizental itegration-vertical-buy suppliers to he could contol the raw material and transportaion systems ( see p. 242)-horizontal- bought companies that made similar products as himAnswers to Question Two:-revolutionized petroleum industry-joined with competing companies in trust agreements(turn stock over to a group of trustees)-his business effected by Sherman Antitrust Act.-1870: founeded the Standard Oil Company and aggressively ran it til officially retired in 1897-known as captains of industry and robber barrensAnswers to Question Three:-survival of the fittest.-Answers to Questions Four:-vertical-buy suppliers to he could contol the raw material and transportaion systems ( see p. 242)-horizontal- bought companies that made similar products as him-monopoly-when a firm buys all of its competitors-most people created setting hold up a company-stell was one of the msot successful holding companies-Sherman Antitrust Act-not allow monopoliesAnswers to Question Five:-monopoly-getting rid of competetors in your own field-one oil company sells for five dollars, rockofeller sells for three. til eventually all is Rockofeller Oil, then you can set prices to whatever you want..Answers to Question Six and Seven:-formed by laborers who were trying to improbve their working conditions(better pay, health insurance, workmans comp, child labor laws, shorter work days, shorter hours, etc. )-Samuel Compers oed Cigar Maker's Internaional Union to join with other craft unions.-Focused on collective bargaining or negotiation between the reperwsentattives of labor abd management-Eugene V. Debs made first major attempt to from an undustrial union.-American Railway Union-won first strike in 1894-1903- Japenese and Mexican workers organized ta strike, successful-Great Strike of 1877, The Haymarket Affair, The Homestead StrikeChapter Seven Section ThreeQuestions:-What was the political machine and what did they do for a city?-Tell me about Boss Tweed and the Tweed Ring.-What caused all this corruption in government?-What laws came about to reform government?-Ulysses S. Grant, Rutherford B. Hayes, James Garfield, Chester Arthur, Grover Cleveland, Benjamin Harrison, Grover Cleveland and William Mckinley were all presidents during the late 1800's. Were they a reform president or a status quo president?Answers to Question One:-group that controls a political party-secrure political foundation-know that they weould get votes from the group-gave voters services for political/financial assistance-Bosses- assigned to gain votes- Political and ward bosses worked together for quickness-Immigrants- provided easy votes- early bosses were immigrants so understood hardshipAnswers to Question Two:-Boss Tweed-William M. Tweed- leader of Tammy Hall, powerful democtatic machine in New York- Led Tweed Ring-Tweed Ring- scandal-building new court hourse in new york- made tax payers pay thirteen million about 178 million today-project only cost three million about seven million today- the ten million went to the members of the Tweed ringAnswers to Question Three:-members of political machines would:- commit fraid by casting numerous votes- help business for cash- graft, use candidates staus in office for personal gain-take bribes- gambled- wanted power and moneyAnswers to Question Four:Answers to Question Five:
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