The Beginning of the Rise of Populism Flashcards
Give an example of a book written in 1873 which attacked the Laissez-faire economic structure and the authors name
Mark Twains “The Gilded Age” written in 1873
What book was written in 1879 opposing laissez-faire economics and who was the author?
Progress and Poverty written by Henry George in 1879
What did Henry George’s book suggest?
The abolition of private land ownership
What was the scale of Henry Georges book? What is the significance of this?
2 million copies were sold showing many people felt the same way
What association was formed in 1885?
American Economic Association (AEA)
What did the AEA promote?
‘Scientific’ economic ideas
Who wrote an article for the AEA and in what year?
Henry Carter-Adams wrote an article for the AEA in 1887
What was the 1887 AEA article about?
The limits of Laissez-Faire
What was the significance of Henry-Carter Adams’ article?
It laid the foundations for the strength of Progressivism, which is what a whole new era of the USA’s development would be called
What action did states take against corruption in the 1880s?
In the mid 1880’s, 27 states passed laws to reduce the power of cartels and trusts
What is a limitation of state action against corruption in the mid-1880s?
Most of the 27 states were Southern or Western states which did not have economies thriving as much as Northern States where a majority of corruption was taking place
Name 3 scandals to show that many corruption expositions were not occuring in Southern or Western States
1869 Black Friday Scandal, Tweed Ring, New York Custom House Ring
What act did Congress pass in 1887 to reduce monopolies power?
Interstate Commerce Act of 1887
What was created from the Interstate Commerce Act of 1887 and what did this do?
It set up the Interstate Commerce Commission which regulated railroad networks
