Private companies freely competing with each other with little or no government regulation

Exclusive control of one section of business, such as all rail roads, or mines.

A type of business where shares of stock are sold to investors who own part of the business and share its profit.

A board or committee that helps to make business choices, and are able to control member corporations.

The act of becoming one unit or union

Expanding in one area of production/industry

Oil rich landOil drillsOil refineriesTransportation

Gaining control of all steps of an industry (raw material to finished good)

Iron ore minesCoal minesSteel factories/millsTransportation (RR,

ships)

Survival of the fittest and smartest in the business world

Idea that business should be free of government regulation (“hands off”)

When a wealthy person in the business world uses his money to help better man kind.

The public calls for action against wealthy businessmen they refer to as “Robber Barons”

Amer. Business man who got wealthy by unethical means

Made all monopolies of trade illegalNot enforced

Regulated railroad rates and made rebates illegal

Similar to kickbacks return some $ because of confidential agreement

Political machines controlled the cities Boss Tweed Tammany Hall

Government corruption Spoils System

Pendleton Civil Service Act – • Hired and promoted people based

on how they scored on exams. (tried to stop spoils system)

Low WagesEasy availability of workers, leads to

lower wagesNo minimum wage laws

Poor lighting, heating and ventilationNo safety standardsChild labor

“Sweatshops” Tried to get more production out of

workers and forced them to work 12 – 15 hour days

Knights of Labor

American Federation of

Labor

Industrial Workers of the

World

Founder Date

Uriah Stephens 1869

Samuel Gompers1886

William Haywood

1905

Members

Craft, industrial; skilled & unskilled;

whites & minorities

Skilled workers(a union of unions)

Women & minorities

Goals 8-hour work day

• High wages• Shorter hours• Better working

conditions

Successes Won a major strikeCollective bargaining

Won a textile strike

Problems

• Prejudice•Too much attention on political goals

Racist Attitude• Discrimination •Reputation for violence

Haymarket Riot A strike in Chicago which turned into riot People Riot was blamed on the Knights of Labor

AFLPinkertons

http://www.history.com/topics/andrew-carnegie/videos/andrew-carnegie-and-the-homestead-strike

40% InjunctionCourt order forcing you back to work

President during completion of Transcontinental Railroad

Built by the Irish & the Chinese

Election ended in Reconstruction

Assassinated by an unbalanced lawyer

Passed the Pendleton Civil Service Act for which Garfield was assassinated for promoting.

First Democratic PresidentFormer mayor of BuffaloBelieved in laissez-faire (gov’t is

hands off business)

Raised tariffs to highest level ever

Only President to serve two terms that were not consecutive

Tried to reduce tariffs but Congress overrode

Horizontal & Vertical IntegrationLaissez – faireSocial DarwinismAnti-trustSherman Anti-trust Act Interstate Commerce ActCollective bargaining InjunctionArbitration

Bread & butter goalsLabor Unions

Knights of Labor American Federation of Labor Industrial Workers of the World

Gov’t & American public did NOT support unions