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Why are monopolies bad? Reduce consumer choice Increase product price Decrease product quality...

Date post: 18-Jan-2016
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Why are monopolies bad? • Reduce consumer choice • Increase product price • Decrease product quality • Decrease worker’s wages
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Page 1: Why are monopolies bad? Reduce consumer choice Increase product price Decrease product quality Decrease worker’s wages.

Why are monopolies bad?

• Reduce consumer choice

• Increase product price

• Decrease product quality

• Decrease worker’s wages

Page 2: Why are monopolies bad? Reduce consumer choice Increase product price Decrease product quality Decrease worker’s wages.

Workers of the Nation Unite

Unions, Strikes, and Death at the Turn of the Century

Page 3: Why are monopolies bad? Reduce consumer choice Increase product price Decrease product quality Decrease worker’s wages.

Exploitation of Workers

• Factory life consisted of:– Long hours (12/day, 6

days/week)– Hazardous conditions– Low wages

Low wages forced many women and children to work to support family.

Page 4: Why are monopolies bad? Reduce consumer choice Increase product price Decrease product quality Decrease worker’s wages.

The Birth of Labor Unions

• Labor Unions emerged because workers felt, at the very least, they deserved fair wages and safe conditions.

• Labor unions soon divided into two groups

Page 5: Why are monopolies bad? Reduce consumer choice Increase product price Decrease product quality Decrease worker’s wages.

1. Skilled Unions

• The American Federation of Labor (AFL) was the most popular skilled worker union. Elitist.

• Skilled worker- any worker whose job required some special skill, knowledge, or ability to do it.

• Lead by Samuel Gompers….this guy

Page 6: Why are monopolies bad? Reduce consumer choice Increase product price Decrease product quality Decrease worker’s wages.

2. Industrial Unions

• Industrial Unions included skilled and unskilled workers.

• Some people felt unions would be stronger if they included all workers

• Eugene V. Debs was the most famous supporter of industrial unions…this guy

Page 7: Why are monopolies bad? Reduce consumer choice Increase product price Decrease product quality Decrease worker’s wages.

STRIKES

• When workers would stop working.

• Strikes were often the most effective means by which labor unions took action to improve conditions.

• Some strikes lead to riots, violence, and even death.

• The Haymarket Affair (1896) was a particularly violent strike which actually lead to a decline in popularity of unions.

Page 8: Why are monopolies bad? Reduce consumer choice Increase product price Decrease product quality Decrease worker’s wages.
Page 9: Why are monopolies bad? Reduce consumer choice Increase product price Decrease product quality Decrease worker’s wages.

Triangle Shirtwaist Factory Fire

• Factory in NYC• Fire broke out in upper floors and

spread quickly due to hazardous conditions

• Workers (many of them women) were locked inside. 145 killed.

Page 10: Why are monopolies bad? Reduce consumer choice Increase product price Decrease product quality Decrease worker’s wages.
Page 11: Why are monopolies bad? Reduce consumer choice Increase product price Decrease product quality Decrease worker’s wages.
Page 12: Why are monopolies bad? Reduce consumer choice Increase product price Decrease product quality Decrease worker’s wages.
Page 13: Why are monopolies bad? Reduce consumer choice Increase product price Decrease product quality Decrease worker’s wages.

Effects of the fire

• Caused a huge uproar across the nation

• Lead NY to establish:– Stricter fire codes– 54 hour work week for women and minors– A prohibition on Sunday work– Abolition of labor by children under 14 years


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