Wednesday, January 16, 2008

Chapter 17-The Industrial Revolution 2 01/16/08

Phonograph records

Met Opera

Rise of realism in art

Lot's of immigrant move to cities

Increase in crime

Poverty

Disease

Immigrants main group in cities

Rise in nativism

Public Education systems emerge

Based on German system

Morrell Land Grant leads to good college system

Women start to enter higher education

Walter Reed

Discover Yellow Fever

John Wesley Powell

Andrew Carnegie

Gave away money

Philanthropist

Carnegie Hall

Magazines

Literary Magazines

Dime novels

Music, Theatre

Business

Monopolies

Pooling

Instead of competing, divide market

Not illegal

Having regional markets

Merger

One or more companies form a new company

Combine assets

Vertical Integration

One product

Control product from start to finish

Eliminate middle man

Horizontal Integration

Control entire sector of an industry

Trust is a formation of a national monopoly

Sherman Anti-Trust Act, 1890

Prevent trusts from forming

Used primarily against labor unions

Corporate State Charters

John D. Rockefeller

Mogul who starts Standard Oil

In 1870's-1880's, collects corporate state charters

Standard Oil of PA

Standard Oil of IL, etc

Board of trustees

So rich that he becomes a philanthropist

Government questions whether to charge with anti-trust fund

Stop philanthropist?


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