DUP Industrial Revolution - The Evolution of American industry - Guide

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Name: ________________________________________________ Date: __________ Period ________ The evolution of American industry and the changing role of the U.S. government Key Term Merger Combines ______ companies into one _______ ______________________. Trust A ________________ used to ______________ several large businesses to ______________________________ over a market. Holding Company A company that does nothing except _________ other ___________________________. Monopoly A company that ________________ such a large ________________ of the market that they have control over the industry’s ________________ ______________ and ___________________. Social Darwinism The idea that there is an ______________/_____________ type of natural ________________________ for humans resulting in _______________of the ________________. Social Darwinists argued that government should not _________________ with human competition by attempting to ________________ the economy or cure social ills like poverty and pollution. Robber Baron Term used to describe powerful 19 th century _______________________ who got rich by ______________________ workers and engaging in ___________________ business practices. Sherman Antitrust Act of 1890 Law passed by the U.S. Government to outlaw ____________ and prevent _______________________. What would happen if Social Darwinism was implemented at Savanna

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Name Industry Unethical practice Unethical practice Unethical practice John D. Rockefeller Drove competitors out of business by selling below cost. John Astor Had his henchmen use violence against his enemies. George M. Pullman Lowered workers’ pay but refused to lower their rents. The Robber Barons Who’s Who LIST 1. What is vertical integration 2. How would it be valuable to a business 3. What is horizontal integration 4. How would it be valuable to a business

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Abuses in the railroad industry: Selling govt. land grants to business price fixing charging unreasonable prices if there was no competition. Led to passage of the Granger Laws and formation of the Interstate Commerce Commission. 1. Who were the Grangers 2. What did the Supreme Court establish when it upheld the Granger Laws 3. Why was it important that regulators and staff had no ties to the railroad industry Date Event Problem Government Action Taken 1906 Publishing of Upton Sinclair’s book The Jungle 1972 By this time the Cuyahoga River in Ohio had caught fire 13 times Discussion Question: At what point do you think federal regulations go too far

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