https://padlet.com/lrockwood21/sbjg41qnkj6w Chapter 5 Sections 3 and 4 en-us 2019-03-25 14:59:30 UTC 2019-03-27 16:14:54 UTC hello@padlet.com https://padlet.com/lrockwood21/sbjg41qnkj6w/wish/344877856 2019-03-25 15:33:16 UTC https://padlet.com/lrockwood21/sbjg41qnkj6w/wish/344877856 https://padlet.com/lrockwood21/sbjg41qnkj6w/wish/344903526 Section 3)
Corporation: An organization owned by many people treated by law as if it were a person
Stock: Shares of ownership
Economies of Scales: Monetary value of manufacturing
Pools: Agreements to keep prices at a certain value
Monopoly: When a single comp gains control of an entire market
Trust: A new way of merging companies without violating laws
Holding Company: Doesn’t produce own products, holds stocks in those who do produce products

Section 4)
Deflation: A decline in the volume of available money or credit that results in lower prices, and therefore increases the buying power of money
Trade Union: An organization of workers with the same trade or skill
Industrial Union: An organization of common laborers and craft workers in a particular industry
Blacklist: A list of persons who are disapproved of or are to be punished or boycotted
Lockouts: A company tool to fight union demands by refusing to allow employees to enter the facilities to work
Arbitration: Setting a dispute by agreeing to accept the decision of an imperial outsiders
Injunction: A court order whereby one is required to do or to refrain from doing a specified act.
Closed Shop: An agreement in which a company agrees to hire only Union members
Constituted: To be composed of, made of, or formed from]]> 2019-03-25 16:19:41 UTC https://padlet.com/lrockwood21/sbjg41qnkj6w/wish/344903526 https://padlet.com/lrockwood21/sbjg41qnkj6w/wish/344903675

1870s - competition is reduced to few large and efficient corporations

Carnegie’s steel co opened

Rockefeller largest oil co

1880 - Co. controlled 90% of oil-refining industry

1882 - Standard oil co. formed first trust

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What does this mean/imply?

Were the people really controlling the industry?

Did industry owners have to much power over the unions?

]]> 2019-03-25 16:21:52 UTC https://padlet.com/lrockwood21/sbjg41qnkj6w/wish/344904562 https://padlet.com/lrockwood21/sbjg41qnkj6w/wish/344910893 Andrew Carnegie: factors that lead to big business
-Vertical Integration: Co. owns all businesses it depends on
-Horizontal Integration: Combining similar businesses to make one
-Led the expansion of the American Steel Industry
John D. Rockefeller: Built oil refineries
-Considered the wealthiest American of all time, and richest person of modern history
Samuel Gompers: The first and longest serving President of the American Confederation of Labor

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