...continued i still didnt present "o darn" took more notes
ch. 6-1 Leah and Chelsea M
What caused the Industrial revolution to really take off in the late 1800's?
-discovery of oil
-wealth of natural resources
-government support for businesses
-growing urban population
-steel production
What were some new inventions in the late 1800's and what affect did they have on people's lives?
-electricity: made travel cheap and efficient, promoted spread of cities
-light bulb: allowed electricity to be used inside
-typewriter: reduce time and expense in creating documents, allow system of communications that shaped the business world
-telephone: no longer had to rely on mail
-new inventions created jobs for women
ch.5-3 Tabby and Jenna
What problems did farmers face on the Great Plains?
-had trouble finding clean water
-had to buy a lot of stuff when they went to town to last them for a period of time
-farmers were loners
-Railroads were charging them more for short hauls since there was no competition
Who were the Populists and what did they believe in?
-populists: movement of the farmers
-out to help farmers and common people
-Omaha Platforms: increase money supply, graduated income tax, federal loan program, 8 hour work day, restrictions on immigration
-wanted inflation so they could get more money for their crops
ch6-2 Tank and Hedgie
What impact did railroads have on the US?
-they could travel and ship things just about anywhere
-brought adventure and fresh start
-railroad workers were killed on the job
-employed thousands of chinese workers
Why were many people upset with the railroads?
-didnt treat chinese workers well
-told stock holders it was going to be expensive but it wasnt so they kept extra money
-railroads charged too much
What did the Grangers or government do to regulate the railroads?
-grangers were farmers who politicaly fought against the railroads
-passed laws to get rid of discrimination
-loading charges were brought down
-railroads fought back but lost 7-2 vote
-Granger Law: allowed states to start regulating railroad prices
-Interstate Commerce Act: help farmers against the railroad companies and control railroad rates
ch6-3 Diego Scott Scotter and ME
Tell me about Andrew Carnegie.
-started steel mill and manufactured more than factories in Great Britain
-tried to control as much of the steel industry as possible by monopoly
-monopoly: business that tries to buy out all other similar businesses
Tell me about John D. Rockefeller.
-owned standard oil company: largest in the world
-was the richest person in the world
-made hundreds of millions of dollars
-called a robber because he drove a lot of people out of business
What was Social Darwinism and how did it apply to business?
-theory set up by Charles Darwin
-strong survive, weak die out
-big businesses take over small businesses
Explain how companies formed monopolies(vertical/horizontal integration, trusts).
-horizontal integration: one company is trying to buy out other companies
-vertical integration: having control over every aspect of transportation,and development of product
How did the government try to regulate business?
-Sherman Antitrust Act: made it illegal to form a trust so you couldnt trade with free states or other countries
-broke up Microsoft
What are labor unions and what is their purpose?
-labor union: when a group of laborers talked with reps from the company so they could get better hours, wages, and working conditions
Were labor unions successful in achieving their goals? Explain/Give examples.
-Japanese and Mexican workers had a successful strike in sugar-beet fields
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