Python Notes for mca i year students osmania university.docx
US CH 14 S 3 (Big Businesses)
1.
2. QUIZ CH 14 S 1
1. HE PERFECTEDTHE INCANDESCENT LIGHT BULB
2. HE INVENTEDTHE TELEPHONE
3. PERSON WHO ASSUMES RISKFORBUSINESS VENTURE
4. THEY INVENTEDTHE AIRPLANE
5. HE INVENTEDTHE TELEGRAPH
6. HE INVENTEDTHE STEAMENGINE
7. TERMFORINDIVIDUAL ORCORPORATION CONTROL MEANS OF
PRODUCTION FORPROFIT
8. HE DEVELOPEDA BETTERMETAL CALLEDSTEEL
9. HE INVENTEDTHE STEAMBOAT
10. NAME THE COMPLETE LOCATION WHERE THE FIRST
TRANSCONTINENTAL RAILROADWAS COMPLETED
5. VERTICAL INTEGRATION
• STEPS REQUIREDTO
TURN A RAW
MATERIAL INTOA
FINISHEDPRODUCT
• BOUGHT RAIL LINES
• ORE SHIP
• PIG IRON PLANTS
GAVE TOTAL CONTROL
OVERQUALITY AND
COST
TOENSURE STEADY
SUPPLY OF PRODUCT
6. GOSPEL OF WEALTH
• COMMANDEDTHE
WEALTHY TO
DONATE THEIR
MONEY TOWORTHY
CAUSES
• CARNEGIE REPORTEDLY GAVE $350
MILLION OF HIS $400 MILLION FORTUNE
TO CHARITIES, INCLUDING $60 MILLION
TO BUILD LIBRARIES.
7. JOHN D. ROCKEFELLER
• FORMED THE
STANDARDOIL
COMPANY
• HORIZONTAL
INTEGRATION
• COMPANIES
COMBINED WITH
ANOTHER
COMPANIES TO
PRODUCE SIMILAR
PRODUCTS
• GIVES HIM
CONTROL OVER
PRODUCTION AND
PRICES
• ABLE TOCONTROL Became the world’s richest man and
first American billionaire
8. MONOPOLY
• CONTROL ALL MEANS OF
PRODUCTION (ELIMINATE
COMPETITION)
• STANDARD ALL USED
VERTICAL AND
MONOPOLIZE THE OIL
INDUSTRY
• BOUGHT BARREL OF
COMPANIES AND
RAILROADS
• MANUFACTURE AND
INSTALL OWN
PIPELINES
10. CORNELIUS VANDERBILTCORNELIUS VANDERBILT
• HE BUILT HIS
WEALTH
IN SHIPPING AND
RAILROADS THROUG
HCONSOLIDATION
• ACT OF UNITING OR
COMBINING
• LARGE COMPANIES
BOUGHT SMALLER
ONES OR FORCED
THEM OUT OF
BUSINESS.
13. J.P. MORGANJ.P. MORGAN
• FINANCIER, BANKER
• DOMINATED CORPORA
TE FINANCE AND
INDUSTRIAL
CONSOLIDATION
14. SOCIAL DARWINISM
• THEORY OF FREE COMPETITION ENSURE SURVIVAL OF
THE FITTEST
• JUSTIFY THE ACCUMULATION OF WEALTH
15. CHAPTER 14
• PG 444 MAIN IDEA C
• PG 445 MAIN IDEA D
• PG 448 MAIN IDEA A
• PG 449 MAIN IDEA B
• PG 450 MAIN IDEA C
• PG 450 MAIN IDEA D
• PG 451 MAIN IDEA E
16. CHAPTER 14 S 3
1. NAME THE 20TH
PRESIDENT J G
2. ILLEGAL USE OF POLITICAL INFLUENCE FOR PERSONAL GAIN G
3. TIME PERIOD WHERE POVERTY AND CORRUPTION THAT EXIST IN
SOCIETY G A
4. PORTION OF EARNING OR BRIBE K
5. NAME THE 22ND
AND 24TH
PRESIDENT G C
6. ORGANIZED GROUPS THAT CONTROL ACTIVITIES OF A POLITICAL
PARTY P M
7. NAME THE BIGGEST BOSS IN NY W M T
8. NAME THE 23RD
PRESIDENT B H
9. GIVING GOVERNMENT JOBS TO SUPPORTERS P
10. NAME THE 21ST
PRESIDENT C A
19. THE WORKFORCE
• MANY FACTORY
WORKERS WERE
IMMIGRANTS
• THE BEST JOBS WENT TO NATIVE-BORN
WHITES OREUROPEAN IMMIGRANTS.
• LESS WELL-PAYING JOBS WERE OPEN
TO AFRICAN AMERICANS, AS
HOUSEHOLDHELPORLABORERS.
• BY 1900, ONE IN SIX
CHILDREN BETWEEN THE
AGES OF 10 AND 15 HELD
FACTORY JOBS.
20. WORKING CONDITIONS
• 10HRS- 6 DAYS A
WEEK.
• NO BENEFITS
• THEY HADNO PAIDVACATION AND
NO SICKLEAVE.
• SPEEDOF PRODUCTION
LEDTOTERRIBLE
ACCIDENTS.
• INJUREDWORKERS
WERE REPLACED.
37. LABORUNIONS
• ORGANIZATIONS TO
AIDWORKERS
• USE STRIKES (WORK
STOPPAGE) AS
STRATEGY TO GET
RESULTS
• EMPLOYERS STRUCK BACK
AT ORGANIZED LABOR,
FORCING EMPLOYEES TO
SIGN DOCUMENTS SAYING
THEY WOULD NOT JOIN A
UNION.
• BLACKLISTS OF PEOPLE
DEEMED TROUBLEMAKERS
WERE MADE AND SHARED BY
EMPLOYERS, WHO REFUSED
TO HIRE ANYONE LISTED.
• STRIKING WORKERS WERE
REPLACED WITH “SCABS,” OR
STRIKEBREAKERS.
38. The Knights of Labor
ù Eight-hour workday.Eight-hour workday.
ù Ban child laborBan child labor
ù Safety codes in the workplace.Safety codes in the workplace.
39. The American Federation
of Labor: 1886
• SAMUEL GOMPERS (LEADER)
• AID SKILLED WORKER.
• USED COLLECTIVE
BARGAINING, ALL WORKERS
ACTED TOGETHER, TO
NEGOTIATE WITH
MANAGEMENT
40. Haymarket Riot
(1886)• WORKERS STRIKES
• WORK STOPPAGE
• SOMEONE THREW A BOMB
• 8 COPS DIED (MANY(MANY
INJURED AND 14INJURED AND 14
WORKERS DEATHWORKERS DEATH
• 8 ANARCHIST ACCUSED.
• FOUR MEN WERE CONVICTED
AND EXECUTED, AND ONE
COMMITTED SUICIDE IN
PRISON, ALTHOUGH THE
PROSECUTION CONCEDED
NONE OF THE DEFENDANTS
HAD THROWN THE BOMB.
• LOWERED UNION
MEMBERSHIP
41. Homestead Steel Strike
(1892)
• WORKERS REFUSE
TO WORK FASTER
• INDUSTRIAL
LOCKOUT AND
STRIKE
• BATTLE BETWEEN
STRIKERS AND
PRIVATE SECURITY
AGENTS
• 14 DEATHS
• RESULTED IN
MAJOR DEFEAT
FOR THE UNION,
42. The Pullman Strike of
1894• COMPANY LAID OFF WORKERS
AND REMAINING ONES WAGES
WERE CUT
• NATIONWIDE
• 3,000 EMPLOYEES STRIKES (STOP
WORKING)
• FEDERAL TROOPS WERE CALLED IN,
STRIKES STOPPED
• INVOLVED SOME 250,000
WORKERS IN 27 STATES
52. - After the fire, new laws were
passed to protect factory workers.
53.
54. A FAVORABLE CLIMATE FOR BUSINESS
FREE MARKETS
• WITH CAPITALISM,
COMPETITION DETERMINES
PRICES AND WAGES, AND
MOST INDUSTRIES ARE RUN
BY PRIVATE BUSINESSES.
• IN THE 1800S, BUSINESS
LEADERS BELIEVED IN
LAISSEZ-FAIRE CAPITALISM
WITH NO GOVERNMENT
INTERVENTION.
• THEY BELIEVED
GOVERNMENT REGULATION
WOULD DESTROY SELF-
RELIANCE, REDUCE PROFITS,
AND HARM THE ECONOMY.
SOCIAL DARWINISM
• MANY THINKERS BELIEVED
THAT INEQUALITIES WERE
PART OF THE NATURAL
ORDER.
• CHARLES DARWIN BELIEVED
THAT MEMBERS OF A SPECIES
COMPLETE FOR SURVIVAL IN A
NATURAL SELECTION
PROCESS.
• APPLIED TO SOCIETY,
STRONGER PEOPLE,
BUSINESSES, AND NATIONS
WOULD PROSPER, AND
WEAKER ONES WOULD FAIL IN
A “SURVIVAL OF THE FITTEST.”
The American ideal was one of self-reliant individualism. A
strong work ethic made one successful, and entrepreneurs
risked their money and talents in new ventures.
55. • ROBBERBARONS
• RUTHLESS
LEADER DROVE
SMALL
COMPANIES OUT
OF BUSINESS
• POLLUTE THE
ENVIRONMENT
• EXPOSE
WORKERS TO
INJURY
• WASTED RAW
MATERIALS
industrialindustrial statesmenstatesmen
use innovativeuse innovative
methods bringingmethods bringing
order andorder and
efficiencyefficiency
invented andinvented and
perfectedperfected
technologiestechnologies
brought lowerbrought lower
production andproduction and
pricesprices
raiser wages andraiser wages and
better quality of lifebetter quality of life
By 1898, Morgan controlled most of the major rail lines in America.
used profits earned as a banker to purchase other major corporations.
By 1901, Morgan became head of the U.S. Steel Company, which became the first U.S. company to be worth over $1 billion.
arranged the merger of Edison General Electric and Thomson-Houston Electric to form General Electric.
merged in 1901 the Carnegie Steel Company and several other steel and iron businesses,
