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Corporation

Federal Law to stop monopolies-shift in gov’t attitude. Corporation. Child Labor. Interstate Commerce Act. Theory that gov’t should not interfere in the free market. Separate unions of skilled workers, united together. Laissez-faire. Group formed by workers to improve working conditions.

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Corporation

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  1. Federal Law to stop monopolies-shift in gov’t attitude Corporation Child Labor Interstate Commerce Act Theory that gov’t should not interfere in the free market Separate unions of skilled workers, united together Laissez-faire Group formed by workers to improve working conditions Factory with long hours, low wages, poor conditions Knights of Labor Samuel Gompers Founder of AFL Union Sweatshop Turning crude oil into useable products Enforces Interstate Commerce Act Refining

  2. Entrepreneurs lived lavish lifestyles 1865-1900 Entrepreneur Captain of Industry Labor leaders blamed for bomb explosion at strikers demonstration American Federation of Labor (AFL) Haymarket Affair of 1886 Temporarily refusing to work to protest an employer’s work practices Place where only union members could be hired Terrence Powderly Attempt to create a single national union-loose org & problems tween un/skilled Leader of Knights of Labor during growth period of 1880’s Strike Closed Shop Interstate Commerce Commission Purchaser of stocks-(partial owner) Shareholder

  3. Entrepreneurs that used ruthless tactics to destroy competitions & low wages Invented the first incandescent light bulb Robber Baron Made his fortune refining oil-Had secret benefits from train companies Act of giving money, endowments, property, etc.. Free Enterprise System Andrew Carnegie Made his wealth in the steel industry-philanthropist in latter life John D. Rockefeller Philanthropy Company having complete control over the supply of a product or service National Market Monopoly Use of children in mills, mines, & factories Sherman Anti-trust Act Law prohibiting unfair practices by railroads

  4. Bessemer Steel Process Thomas Edison Economic way to produce steel Replaced telegraph as a means of communication Transcontinental Railroad Alexander Graham Bell Individuals determine prices, what to produce & sell-supply & demand Railroad that crosses the US-met at Promontory Point Inventor of the telephone Telephone Transportation improvements make it possible to sell goods anywhere in the nation Consolidate Join together Issues stocks- shares and is considered a “separate person” Person(s) who start a business to make a profit Entrepreneurs that forged modern industrial economy Gilded Age

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