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APUSH Big Businesses

Advantages of a Big Business
-greater efficiency
-economy of scale
-manager system
-productivity studies
(Frederick Taylor)
Disadvantages of a Big Business
-unfair competition practices
-corruption and bribery
-destroyed labor union movements
Social Darwinism
-based on darwin theory of evolution
-survival of the fittest
-also applies to the business world
-the best businesses survive
-justified their wealth
“Gospel of Wealth”
written by Andrew Carneige to explain why philanthropy was important
Horatio Alger
dime novels
-“Rags to Riches”
-“American Dream”
monopoly
when a business controls all or most of the supply of the product
trust
when several businesses act as on under the control of a board of directors
merger
when two or more businesses join to become one larger business
holding company
business which exists in order to control other businesses as a parent company
horizontal integration
type of monopoly formed by controlling all of the same type of business
vertical integration
monopoly formed by controlling businesses related to primary business
Robber Barons
-extreme profits made by business owners
Philanthropy
-donated millions, but still had 100s of millions
-big business practices exposed
-public finally began to call for regulations
Sherman Anti-Trust Act, 1890
Illegal for a trust to interfere in free trade
-weak law but set precedent for future regulation
Urban Labor
-increased 400% by 1890
-mostly unskilled labor
-assembly line work
sweatshops
-low wages
-long hours (12+ hours, 6 days a week)
-dangerous conditions (no ventilation, no air or heat, 675 killed per year)
-company towns
-child labor
Labor Unions
tried to improve conditions of workers
-used strikes
-collective bargaining
-arbitrationOwners then counters
-blacklists
-lockouts
-scrabs (replacement workers)
-injunctions (court order to stop an action)

Railroad strike of 1877
“The Great Railroad Strike” Baltimore and Ohio Railroad protest wages; strikes spread to others
-violent protests
-federal troops send to restore order
Knights of Labor
Terence Powderly-creator
-any kind of labor workers accepted
-eventually failed
-Weakness was unskilled workers lacked leverage with employers
Haymarket Square
Chicago Strike of 1886
-strike over police brutality
-bomb thrown at protest
-several people killed (7 police, 3 workers)
-union activity was blamed for the violence- several union leaders convicted and exectuted
-lead to decrease in labor unions
American Federation of Labor (AFL)
Samual Gompers (leader)
-only allowed skilled labor to join
-made strikes a legitimate weapon for union
Industrial Unions
unions combining all workers of an industry
Eugene V. Debs
created the first major labor union
-United Railroad workers
Pullman Coach Strike,1894
-government steps in- Debs is jailed
-Debs leaves prison as a socialist
Woman workers
worked for better conditions for miners
-used woman and children in the strike process
Mary Harris “Mother” Jones
advocated against child labor
Triangle Fire
146 woman killed; doors were blocked
-government regulations on working conditions and child labor
Homestead Strike
-violent strike between workers and owners
-damaged Carnegie (working conditions)
-Ludlow Strike
Read about labor movements

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