Tell me about Andrew Carnegie.- done.Tell me about John D. Rockefeller.- done.What was Social Darwinism and how did it apply to business?- From Charles Darwin's theory of evolution. Hebert Spencer came up with the term, "Survival of the Fittest. People started to believe that God had favor for riches. Economists found a way to justify the doctrine of lazzie fare. Big bussiness used "Survival of the Fittest" to justify what they were doing by taking out other bussinesses.Explain how companies formed monopolies(vertical/horizontal integration, trusts).- Monopoly, getting rid of competition in your own field. Big businesses start lower than other businesses, then they buy them out and rise prices high.How did the government try to regulate business?- Sherman Antitrust Act, antimonopoly. Government tried to break up monopolies that were being unfair.What are labor unions and what is their purpose?- Laborers thought that their long and difficult hours weren't right so they formed labor unioins to try and fight back. Collective barginging was when many people tried to work for one common goal.Were labor unions successful in achieving their goals? Explain/Give examples.- Collective Bargining. Successful unions on strikes, American Railway Union, Japanese and Mexican workers in 1903, The Great Strike of 1877, The Harmarket Affair, The Homestead Strike.-Breann Lehr
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