Wednesday, December 12, 2012

Rise of Industry and Monopolies

Reading Website: http://goo.gl/OxTi6

Essential Questions:
1)What were the three main causes of industrial growth?
-The three main causes of industrial growth were: Natural resources, government support for business, and growing urban population.
2)Trusts and monopolies during America's early industrial age created...
-Trusts and monopolies during America's early industrial age created separation, long working hours, and low wages for workers.
Industrial growth was created by natural resources, government support for business, and growing urban population. Trust and monopolies during America's early industrial age created separation and bad working conditions for workers. Companies got rich from controlling production, wages, and prices. Monopolies began in the United States because the United States was the place with natural resources which was great for business. Money is all that mattered to the business owners. John D. Rockefeller argued that it was okay for workers to get paid low wages because they donated money back into a facility for the people to find cures for diseases. Monopolies felt like they were better than others at young ages. It is not easy to create monopolies and those who were able to were sneaky, under-minding, and shady. Sherman Antitrust Act was not effective and monopolies wanted the Sherman Antitrust Act to be weak therefore their business would be strong. Monopolies are people who wanted low competition or wanted to buy out all competition.

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