Monday - Today was pajama day. We had our last presentation today.
-Tell me about Andrew Carnegie.
- Manufacture steel
- Widespread
- Hired special employees
- Vertical/Horizontal integration
-Tell me about John D. Rockefeller.
- Oil company
- Total control of oil industry in America
- Paid extremely low
- Rockefeller Foundation
- University
- Hospital
-What was Social Darwinism and how did it apply to business?
- Strong smart businessmen survive
- Natural selection
- Evolution
-Explain how companies formed monopolies(vertical/horizontal integration, trusts).
- Monopolies - big companies that control the entire industry
- Horizontal integration - buying out companies of the same type, company a buys out company b and c
- Vertical integration - were big enough to control own distribution, oil company buys out railroads and mines
- Trust - when small corporation joins large corporation, lots of companies joining under one name
-How did the government try to regulate business?
- Sherman Antitrust Act
- Stopped companies from turning into monopolies
- Broke up monopolies
- Failed
-What are labor unions and what is their purpose?
- Protect laborer rights
- National Labor Relations Board
- Fought for better working conditions
Were labor unions successful in achieving their goals? Explain/Give examples.
- Largest union National Labor Relations Board
- Labor unions sometimes succeed
Tuesday - Test review.
Wednesday - I studied while others tested.
Thursday -
Friday -
Comments
Great job!