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Laissez-Faire

Laissez-Faire. -idea that the government will stay out of the interests of people and businesses-. Monopoly. -business which controls the supply of a particular product. Merger / Trusts. -Merger-two or more companies join to form one -Trust- several business act as if one. Regulation.

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Laissez-Faire

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  1. Laissez-Faire -idea that the government will stay out of the interests of people and businesses-

  2. Monopoly -business which controls the supply of a particular product

  3. Merger / Trusts -Merger-two or more companies join to form one -Trust- several business act as if one

  4. Regulation -public call to regulate monopolies -Sherman Act, 1890 -Clayton Act, 1914

  5. Public Utilities -some monopolies are allowed -their prices are regulated by government

  6. Conglomerates -business that supplies a large variety of products -may become too powerful

  7. Deregulation -Idea that the government should reduce the amount of government regulation

  8. Cooperation -Government also tries to help business interests

  9. Worker’s Conditions -Working Conditions

  10. Labor Unions -Labor Unions are groups of workers -Goal of Unions??

  11. Collective Bargaining -Collective Bargaining -the ability of a group of workers to bargain together as a group -Advantages-

  12. Labor Union Methods -Collective Bargaining -Strikes -Picketing -Sit-downs -Slowdowns

  13. Employer Methods -Court Injunctions -Blacklists -Lockouts

  14. NLRB -National Labor Relations Board -Made Union activity a right -Government acts as mediator between unions and employers

  15. Union Limitations Union Practices Banned -Closed Shop—job where only union members are allowed to work -Featherbedding—practice of keeping too many workers

  16. Today’s Labor Unions -Unions are weaker than in the past -Taft-Hartley Act, 1947 -Right to Work Laws Open Shop

  17. Negotiations -Mediation— 3rd party negotiation where both parties are under no obligation -Arbitration— negotiations where both sides are to bound to the 3rd party decision

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