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Big Business

Explore the rise of corporations, advantages, and disadvantages, public reactions, types of big businesses, Robber Barons, and the call for regulation. Learn about the impact and controversies surrounding big business in America's economic history.

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Big Business

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Presentation Transcript

  1. Big Business -corporations develop -limited liability leads to public investment -mass market selling

  2. Advantages -greater efficiency -economy of scale -manager system -productivity studies Taylor

  3. Disadvantages -unfair competition practices -corruption and bribery -destroyed labor union movements

  4. Public Reactions -mixed public feelings -Social Darwinism -based on Darwin’s theory of evolution -survival of the fittest -also applies to the business world -the best businesses survive -justified their wealth -”Gospel of Wealth” -rags to riches “American Dream” Horatio Alger dime novels

  5. Types of Big Businesses -monopoly—when a business controls all or most of the supply of a product -trust—when several businesses act as one 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 the primary business

  6. Types of Big Businesses -monopoly—when a business controls all or most of the supply of a product -trust—when several businesses act as one 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 the primary business

  7. Robber Barons -extreme profits made by business owners -Philanthropy??? -big business practices exposed -public finally began to call for regulation -Sherman Anti-trust Act, 1890 -weak law but set a precedent for future regulation

  8. Robber Barons -extreme profits made by business owners -Philanthropy??? -big business practices exposed -public finally began to call for regulation -Sherman Anti-trust Act, 1890 -weak law but set a precedent for future regulation

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