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Big Business The American Dream or the American Nightmare
Captains of Industry or Robber Barons
John D. Rockefeller Oil
Andrew Carnegie
Steel
Cornelius Vanderbilt Railroads
Gustavus Swift Meat packing
J.P. Morgan
Money Man
Questions
Give examples of differences between the big and small business.
Why do you think those differences exist?
Do you and your family shop at big business or small business? Why?
Why do you think big business is able to sell their product at a lesser cost?
Which size of business do you think the government supports more? Why?
Business Practices
Social Darwinism
Monopolies, Trusts, and Conglomerations
Waste not, want not
Efficiency
Gospel of Wealth
Government Reaction
Laissez-faire
Munn v. Illinois – States regulate private property if it effected public interest
Wabash Case - over turned Munn v. Illinois. States can’t regulate interstate commerce.
Interstate Commerce Commission - Interstate commerce regulated by the Federal Government
Sherman Anti- Trust Act – prohibited monopolies or trusts. Easy to get around
Working Conditions