HIST 2112 1st Edition Lecture 9 Outline of Last Lecture I Working Conditions in the U S Factories late 19th century II Unionization and Strikes Workers Resist Industrial Conditions III 1870s 1880s Knights of labor IV 1886 American Federation of Labor AFL More respectable V More Radical Unions often repressed by authorities VI 1892 Homestead Steel Strike Andrew Carnegie fights back Outline of Current Lecture I Large Companies II Laissez Faire Defense III Machines IV The Populist Party Platform Current Lecture I II Large Companies As large firms started to take over all smaller companies until they were the only business left in the marketplace opponents of such trusts tried to attack the power that those enterprises wielded over the economy o But there were those who believed in the notion of laissez faire which was the idea that the marketplace should be left to regulate itself They believed that the government should do nothing to constrain the development of industry Congress passed the Sherman Antitrust Act o This ended up attacking John D Rockefeller whose oil company controlled all oil and embodied the evils of trusts for many critics Laissez Faire defense A Yale Professor disliked it when the government came in and gave money to the poor He and a lot of others believed that giving money to the poor was not right because than everyone in society would not work together because they would 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 III IV become free riders because they would think that they wouldn t have to work for anything because the government would just give it to them o If you get wealth you will have to support other people if you do not get wealth it will be the duty of other people to support you Machines Machines are starting to take over industrialization Machines became a threat to craftsman s identities It was cheaper for the owner of a factory in the long run to invest in machines so we would not have to pay as many workers and he could get the less skilled workers at a cheaper price to run the machines because skills were not needed any longer The Populist Party Platform Demanded a national currency Money should be kept as much as possible in the hands of the people Transportation should be kept as a means of exchange and a public necessity o Transportation should be run by the government but in interest of the people The land should be the heritage of the people and not me monopolized for speculative purposes
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