Guldid age Flashcards
cartel
closed accosiation of buisness making the same product
vertical integration
owning all phases of production
horizontal
buy up competition
leading proponent of social Darwinism
Herbert Spencer
What form of integration did Andrew Carnegie use
vertical
Shermon anti trust act
against labor unions
who coined the term guilds age
mark train
laissez fairs economies
wanted government intervention in aid to businesses
they did this so…
businesses could bribe politicians
graft
using political offices for personal gain
What was Rutherford B Hayes view on spoil system
did not believe in it
Three factions + beliefs
Reformers- no patronage
stalwarts- full patronage
half breed- moderate
Pendleton act
outlawed forcing government employees to contribute to campaigns
Mugwumps
republicans fed up w corruption vote for Cleveland
How did clevelands political views affect railroads
RR charges lower rates or have rebates to favored customers
