Today we are continuing presentations.Ch. 7-2Why did cities grow so quickly in the late 1800's and early 1900's?-Immigration and farmersWhat problems did cities face due to the rapid increase in population?-Fires because buildings were made of fire and built close together, crime because poorer immigrants need something to survive, tenaments were poor income housing (small, terrible conditions), very little police protection, fire fighters, and throw garbage out of windows of tenaments. Clean water and running water was very rare, and people would get sick from the water. There also was a lack of public transportation.What did some people do to try to help the bad situation in the cities?-People established settlement houses, in which taught immigrants and poorer people. Police and fire fighters were hired and programs were developed, build new buildings with newer, better things (fire), parks, lighting on streets, entertainment. Cars were also introduced during this time. Social Gospel Movement helped poor people better themselves started by Christians.Ch. 6-3 Big Business and LaborMonopoly was when a firm would but out all of it's competitors. A way to form a monopoly is by a holding company or trust.Tell me about Andrew Carnegie.-Born to an average family, and then moved to the U.S. from Scotland. He looked for ways to make a good product cheaper, and attracted talented people and offered them stock in his company and products. He controlled most of the steel industry (Carnegie Steel). He came up with the vertical and horizontal integration. (see p. 242) Horizontal integration is when he bought out companies that made similar products as him. Vertical integration bought out his suppliers (iron mines) so he could control the raw materials and tranportation systems (railroads, shipping).Tell me about John D. Rockefeller.Revolutionized the petroleum industry. He joined with competing companies in trust agreements (trust- turn stock over to a group ot trustees). His co. was affected by Sherman Antitrust Act. He founded the Standard Oil Co. and ran it until retired.These men were captains of industry and Robber Barrons. They were powerful and rich and were successful, but were hated by some because they can do what they want (raise prices)That 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 examples.
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