Monday-
We went over the Men Who Built America. We also watched another episode. My notes deleted...again. Here's a summary.
Ch. 6.3:
Andrew Carnegie
- Earned money from dividends
- British Steel mill
- New machines to track all expenses
Vertical and horizontal Integration
- Resources- Raw materials
- Manufacturing-processing
- Distribution- Transportation and shipping
- Expanding the business (Horizontal)
- companies buy out other companies
- Business was booming and could control the whole process (Vertical)
Trusts
- Smaller company wants to join the main company
- Joining under one big name
- "Monopoly"
Sherman Antitrust Act (Regulated businesses)
- People who didn't cause monopolies
- Bad trusts are bigger companies
- didn't want bigger and powerful companies
- Prices are regulated with more competition
Darwinism
- survival of the fittest
- being able to have a chance
- strong and weak then die out
Social Darwinism
- Takes the idea into businesses
- but not too strong cause then it's a monopoly
John D. Rockefeller
- Processed Crude oil also known as Standard Oil
- Gave employees small wages
- Rockefeller Foundation
- Medical institutions
Labor Union
- Protect rights of those in the work force
- Farmers
- National Labor Union-1866
- Shortened work day to 8 hours instead of 10
-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 examples.
- Sometimes
- Not at first
- Strikers were loose (because everyone was against them). Big companies controlled everything. Workers meant nothing to them there would always be groups of immigrants who would work for less.
- Yes
- After WWII
- Minimum wage started
- Shorter work day
- Henry Ford raised his employees wage. Most wages at the time were extremely low!
- Benefits such as what we have today. This includes shorter hours, sick leave, and vacation days.
Brun's Powerpoint-
Cowboy's life 15-40 year olds. They drove the cattle from Texas up to Kansas. They would sell them for money. Cow towns were rated G. It was a rough life. We always took the Indians land. We kept pushing them on to smaller and smaller pieces of land. Dawes Act 160 acres of land to farm. Tried to get Indians to become "more white." Struggles on the Great Plains- Life wasn't easy, they were lonely, there was bad weather, they worked hard, native americans, lack of trees, railroad prices, debt. Women worked out west. Plows and tools were developed, sodhouses, granger laws, and they pushed for bimetallism.
- Populists helped farmers out of debt
- people a voice in government
- increased money supply in circulation
- Graduated income tax
- federal loan program
- direct election of Senators
- Single terms for president/ v.p.
- Secret ballot
- eight hour work day
- restrictions on immigration- low wages
- It took power away from the rich, or tried to.
- It wasn't successful
- They struggled and had no power. They were the first organized group to do so. The Progressives would however carry this movement on.
- Industrial Revolution to take place
- tons of natural resources
- government helped businesses
- cities were growing
- immigrants provided cheap labor
- growing population provided markets for manufactured goods
- oil boom
- bessemer process- cheap way to make steel.
- more hours, more work, less pay labor unions came to life
- Inventions
- electricity -light bulb- edison- edison electric- General electric
- telephone- bell- AT&T
- Typewriter
- Interstate Commerce Act -1887
- Allowed US government to supervise railroads
- required railroads to be fair and just
- set up interstate commerce commission to carry out law
- failed to help farmers at first
Sherman Antitrust Act- made it illegal to form a trust that interfered with free trade between states.
Standard Oil was gigantic at one point in time. The sherman antitrust act broke it apart. Windows dominated the computer world. It drives smaller companies out of business.
Labor unions- weekend, child labor laws, overtime, minimum wage, injury protection, workmens compensation insurance, pension security, right to organize, etc. They were eventually successful mainly after World War II. 25 cents an hour was the first minimum wage.
Wednesday-
We watched the Men Who Built America. We will be the first group to be tested tomorrow over Chapter five and six.
Thursday-
We aced our test 75/75 :)))))
Friday-
Not present in class because of Student Council.
Comments
Good!