Post by michaellandolfi on Jan 27, 2016 23:15:41 GMT
Michael Landolfi, Matt Cwirla, Eric Zanelli, Christo
Prompt:
In the post–Civil War United States, corporations grew significantly in number, size, and influence. Analyze the impact of big business on the economy and politics and the responses of Americans to these changes. Confine your answer to the period 1870 to 1900.
The Prompt…
This prompt asks for us to determine, both positively and negatively, the effects of the growing monopolies socially and economically, specifically directly following the Civil War/Reconstruction until the Progressive Era beginning during Roosevelt’s administration.
Key Terms:
Andrew Carnegie
John D. Rockefeller
Cornelius Vanderbilt
William M. (Boss) Tweed
Taylorism
Social Darwinism
Gospel of Wealth
American Railway Union
Knights of Labor
Corruption
Corporate Mergers
Monopolies
Trust
Vertical and Horizontal integration
Sherman Antitrust Act
Limited liability
Thesis:
Following the end of the Civil War and the Reconstruction era, the country entered a period of booming industrial growth, which allowed for the emergence of large business corporations. These corporations often worked to eliminate competition, and to benefit from the massive profits that capitalist America offered. This was a stark difference from the small business and agrarian life of the pre-Civil War era, which widened the gap between the millionaire industrial tycoons and the urban workers. While a significant growth in the size of corporations did assist industries such as the railroad in succeeding and brought goods to the global market, wealthy business owners who controlled politics through corrupt relationships were detrimental.
Economic Effect
- Monopolies/Trusts
- Allowed large businesses to charge artificially high prices
- Industry such as oil and steel and also department stores
- put smaller businesses out of business because monopolies controlled market and could ask for lower price
- Carnegie Steel Company
- Standard Oil Company
- Monopolies good because buyer paid less, but bad for these small workers
- Department stores allowed for people to pay less and also catalogs allowed rural population to buy goods, stimulating the economy
-Railroads
- Allowed for farmers to more easily sell their goods in the global market
- However, railroads controlled the land around their tracks and could therefore sell it for a massive profit
- Could dictate price of transportation therefore making it impossible for farmers to make a profit.
Political Effect
- Corruption in Politics
- William “Boss” Tweed
- controlled large parts of senate because senate not popularly elected
- votes in exchange for services or loans
- Corrupt relationships between politicians and business owners where they benefited each other
- Politicians offered immigrants jobs and help at their business partner’s company in return for votes
- The business owner would receive political support when doing such things as building a new factory
Prompt:
In the post–Civil War United States, corporations grew significantly in number, size, and influence. Analyze the impact of big business on the economy and politics and the responses of Americans to these changes. Confine your answer to the period 1870 to 1900.
The Prompt…
This prompt asks for us to determine, both positively and negatively, the effects of the growing monopolies socially and economically, specifically directly following the Civil War/Reconstruction until the Progressive Era beginning during Roosevelt’s administration.
Key Terms:
Andrew Carnegie
John D. Rockefeller
Cornelius Vanderbilt
William M. (Boss) Tweed
Taylorism
Social Darwinism
Gospel of Wealth
American Railway Union
Knights of Labor
Corruption
Corporate Mergers
Monopolies
Trust
Vertical and Horizontal integration
Sherman Antitrust Act
Limited liability
Thesis:
Following the end of the Civil War and the Reconstruction era, the country entered a period of booming industrial growth, which allowed for the emergence of large business corporations. These corporations often worked to eliminate competition, and to benefit from the massive profits that capitalist America offered. This was a stark difference from the small business and agrarian life of the pre-Civil War era, which widened the gap between the millionaire industrial tycoons and the urban workers. While a significant growth in the size of corporations did assist industries such as the railroad in succeeding and brought goods to the global market, wealthy business owners who controlled politics through corrupt relationships were detrimental.
Economic Effect
- Monopolies/Trusts
- Allowed large businesses to charge artificially high prices
- Industry such as oil and steel and also department stores
- put smaller businesses out of business because monopolies controlled market and could ask for lower price
- Carnegie Steel Company
- Standard Oil Company
- Monopolies good because buyer paid less, but bad for these small workers
- Department stores allowed for people to pay less and also catalogs allowed rural population to buy goods, stimulating the economy
-Railroads
- Allowed for farmers to more easily sell their goods in the global market
- However, railroads controlled the land around their tracks and could therefore sell it for a massive profit
- Could dictate price of transportation therefore making it impossible for farmers to make a profit.
Political Effect
- Corruption in Politics
- William “Boss” Tweed
- controlled large parts of senate because senate not popularly elected
- votes in exchange for services or loans
- Corrupt relationships between politicians and business owners where they benefited each other
- Politicians offered immigrants jobs and help at their business partner’s company in return for votes
- The business owner would receive political support when doing such things as building a new factory