1900: big businesses dominate economy large factory complexes and distribution centers ...
TRANSCRIPT
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BIG BUSINESS VS. UNIONS
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The Rise of Big Business
1900: Big Businesses dominate economy Large factory complexes and distribution
centers Corporations: organization owned by
many, but treated as single person by law
Economies of Scale: cost decreases as products are made quickly in large quantities Big Business=high fixed cost, low operating
cost Small businesses find it hard to compete,
falling prices help consumers, corps. form “pools” to control prices
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Consolidating Industry
Andrew Carnegie and Steel Vertical Integration (Page 102)
John D. Rockefeller & Standard Oil Monopoly Trust Holding Companies
J.P. Morgan Investment Banking Buys Carnegie Steel and others, forms U.S.
Steel
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Working Conditions
Poor working conditions: repetitive tasks, dangerous work environment, unhealthy conditions, machines not meant for safety
1860-1890: wages rise 50% 1900: 22 cent/hour average pay
Deflation: rise in the value of money Companies cut wages, prices continue to fall
Workers unhappy about conditions, wage cuts, high wages for executives—want to organize
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Rise of Organized Labor
Two types of workers: Craft workers: skilled workers, higher wages Common laborers: unskilled, low paid
Craft workers form unions Business leaders oppose unions, but
forced to negotiate for needed labor Industrial Unions: especially disliked Business leaders “lockout” union members
Force used to break up strikes
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Union Force
Great Railroad Strikes Knights of Labor
Favor boycotts and arbitration More strikes, government injunction American Federation of Labor (AFL)
Closed shops 1900: Women = 18% of workforce
Women paid less than men Women’s Trade Union League