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Business After 1865 Chapter 13 Section 2

Business After 1865 Chapter 13 Section 2. Objectives. Analyze different methods that businesses used to increase their profits. Describe the public debate over the impact of big business. Explain how the government took steps to block abuses of corporate power.

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Business After 1865 Chapter 13 Section 2

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  1. Business After 1865Chapter 13 Section 2

  2. Objectives • Analyze different methods that businesses used to increase their profits. • Describe the public debate over the impact of big business. • Explain how the government took steps to block abuses of corporate power.

  3. Business leaders combined funds and resources. Investors formed corporations that protected them from losing more than their original investment. Aided by railroads and the telegraph, corporations could operate in different regions. Industrialization

  4. Corporationsmaximized profits by • paying workers low wages. • paying lower prices for raw materials. • supporting research labs.

  5. Eliminate competition and decrease costs Business Strategies

  6. monopolies • cartels Competitors forced out of business Better control of production, reduced costs • horizontal integration • vertical integration

  7. Tycoons of the Late 1800s

  8. Were the tycoons “robber barons” who swindled the poor and drove small businesses under . . . or “captains of industry” who served the nation and lowered the prices of goods?

  9. People began to wonder—Is big business bad for small businesses?

  10. provides jobs allows for product innovations financially supports universities, libraries, and museums Positive Effects of Big Business

  11. Social Darwinism Charles Darwin’s idea of evolution of species applied to American capitalism becomes Social Darwinism This is the belief that wealth was a measure of a person’s value and those who had wealth were the most “fit.”

  12. Social Darwinists believed government should stay out of private business and thought it was wrong to use public funds to assist the poor. Americans who worried about the methods of industrialists called for federal regulation of business practices.

  13. Government Limits on Corporate Power

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