calss notes 1-4 Flashcards
A way to analyze the value of money across a number of years.
Real Wages
makes soybeans and peanuts profitable by creating over 300 uses for peanuts and 200 for soybeans.
George Washington Carver
A teacher who worked closely to the soil and was convinced that planting legumes could bring a good crop and replenish the soil
Booker T. Washington
a parasite to cotton, a glorified cotton roach that turns cotton into mush.
Bollweavel infestation
he develops is the synthesis for new material. Through this he is able to save the southern agriculture.
George Washington Carver
things lead to labor issues
a. Railroad strike in 1877
b. Haymarket riot
c. Homestead strike
d. Pullman strike
e. Coxey’s army
believed that unionizations were good because they worked together to get what they need, but going on strike was actually reserved for a final act of desperation. He founds the American Federation of Labor, essentially the first effective labor organization
Grompers
often looked upon as a hero, he was a socialist
Eugene Debs
a belief that there should be equal opportunity for everyone involved
Socialism
creates “Standard Oil” which later breaks into smaller companies, Exxon, Chevron. All that he had was built from nothing.
J.D. Rockefeller
– INVENTED THE FIRST OIL WELL IN 1859
EDWIN DRAKE
biggest organization to exist in American history
standard oil
big financier founded the idea of merging businesses
J.P. Morgan
a loose confederation (cartel) attempt to try and prevent competition.
Pools
Try and limit big business- big advocates of laissez faire concepts.
trust
1st attempt to regulate business in America
Granger Law (Farmers Unions)
(state laws) trying to regulate the R.R.’s
Grangers Laws
1st government regulatory agency
Interstate Commerce Act
regulates many other things besides railroad demonstrates Pandora’s Box effect
ICC
1st anti-trust act
Sherman Anti-Trust Act
purposely breaks up business deemed harmful to American Competition.
Sherman Anti-Trust Act
.- 1st grocery store chain
A & P Tea Co
sells a multiplicity of things; model that gives us places like Field’s, Macy’s, and J.C. Penny.
Department Store
1st Department Store
Wanamaker’s
Pioneers another kind of business- mail order catalogs. The dominant department type business.
Sears
- created Post Cereal.
Charles W. Post
focus on wellness/health, believed eating raw cereals, quality nutrition makes quality people.
John & William Kellogg
1 sport, allegedly invented by Doubleday
baseball
1903
Henry Ford- Assembly Line
