HIST 2620 1nd Edition Lecture 10 Outline of Last Lecture I. William Randolph Hearsta. Yellow JournalismII. Transportation Revolutiona. Planned obsolescence Outline of Current Lecture II. Alfred SloanIII. Rise of Modern Corporation IV. Modern CorporationV. The New CorporationCurrent LectureAlfred 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 carsRise of Modern Corporation -many left farming industry to find work in the cityThe Good-decrease in work week -increased wages -increased availability of consumer goods and services which left Americans money to buy products -increased life expectancyThe Bad-unsafe environment -labor unions broke -corporate/government corruptionThese 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.-pollutionModern 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 CorporationFour 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 profitsCartels: 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
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