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Big Businesses and Big Labor. Chapter 6.3. Big Business. Andrew Carnegie gained control of almost the entire steel industry using these techniques: Vertical Integration : buying all levels of the process of making a product coal & iron mines, railroads, machine companies

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big business
Big Business
  • Andrew Carnegie gained control of almost the entire steel industry using these techniques:
    • Vertical Integration: buying all levels of the process of making a product
      • coal & iron mines, railroads, machine companies
    • Horizontal Integration: buying other companies that do the same function
      • Buying other steel factories
big business2
Big Business
  • (Same list continued)
    • Making his business super-efficient
    • Underselling his opponents until they couldn’t compete on price and went out of business
big business3
Big Business
  • Charles Darwin’s theory of “natural selection” said only the strong species survive
    • Social Darwinism applied this idea to humans, that some are better and deserve to be rich and others are weak and deserve to be poor
    • Social Darwinism suggested less government regulation, let the rich get rich & the poor be poor
big businesses
Big Businesses
  • Company buys out all competitors “monopoly”
  • Companies teams up and their power over to a group of people (trustees)  “trust”
    • The difference: trusts were technically still separate companies
big business4
Big Business
  • Both trusts and monopolies could charge whatever they wanted for their product
    • Because they had no competition
  • Sherman Anti-Trust Act tried to make trusts illegal
    • but when under pressure, a trust would just split back into separate companies
starter tuesday sept 17
Starter, Tuesday Sept 17.
  • 1. What is the setting of this image?
  • 2. What do the large men in the back represent?
  • 3. What is the author’s message?
labor unions
Labor Unions
  • Working conditions were horrible
    • 12 hour days, 7 days a week, low pay, unsafe.
      • Child labor meant children didn’t get a “childhood”
  • The AFL attempted to improve workers situations through collective bargaining
    • Where unions negotiate for all their workers at once
labor unions1
Labor Unions
  • Some unions believed in Socialism, where the govt. owns and runs businesses to make people more equal.
    • Eugene V. Debs was a union leader who actually ran as the Socialist party candidate for president 5 times!
labor unions2
Labor Unions
  • 1877 RR workers struck because their wages were cut, Pres. Hayes ended the strike with troops
  • At the Haymarket Square in Chicago in 1886, A bomb was thrown at police who had dispersed striking workers
    • This made the public turn against the labor movement.
labor unions3
Labor Unions
  • 1911 Triangle Shirtwaist Factory fire showed how bad working conditions could be
  • But companies were successful in pushing the govt. to weaken unions by arguing that strikes hurt interstate commerce
    • The govt. used Sherman Anti-Trust Act to bust big unions (rather than big businesses)