HIST 2620 1nd Edition Lecture 10 Outline of Last Lecture I William Randolph Hearst a Yellow Journalism II Transportation Revolution a Planned obsolescence Outline of Current Lecture II Alfred Sloan III Rise of Modern Corporation IV Modern Corporation V The New Corporation Current Lecture Alfred Sloan he was a great impact to the transportation revolution and revolutionized economic system in contrast to Henry Ford he believed people wanted something else other than products he believed they wanted prestige he created general motors his plan was to create many different cars varying in price but they were not meant to last long which is where planned obsolescence took place if people increased their prestige then it would lead them to buy products such as cars Rise of Modern Corporation many left farming industry to find work in the city The Good decrease in work week increased wages increased availability of consumer goods and services which left Americans money to buy products increased life expectancy The Bad unsafe environment labor unions broke corporate government corruption These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute pollution Modern Corporation the way the economy was working if left the larger companies an opportunity to gain more money ownership management in the beginning the owner was the operator of the business but now that the companies were growing the owners hired managers to help run the business geographical scale integration companies wanted to have a variety of products to make more profit Carnegie expanded his business by incorporating metal products The New Corporation Four solutions pools an agreement which is made by the members of the pool produce similar product and they want to regularize the price of product earning profits Cartels distribution of product it does not operate for earning profits for itself cannot interfere in the internal affairs of the firm association of independent producers Trusts Holding Companies a company will buy stock in another company Oligopoly a market situation in which each of a few producers affects but does not control the market
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