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The Impact of Monopolies and the Tycoons' Drive for Separation of Business and Government

This text explores the motivations of tycoons, like Rockefeller and Carnegie, for maintaining a separation between government and business. It discusses the laissez-faire approach to economics, emphasizing minimal government interference. The text also highlights two major problems associated with monopolies: reduced competition and negative effects on consumers, particularly farmers facing high transportation costs. Lastly, it touches on the Sherman Anti-Trust Act of 1890, which aimed to address monopolistic practices and promote fair competition.

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The Impact of Monopolies and the Tycoons' Drive for Separation of Business and Government

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Presentation Transcript

  1. Objectives: • 9. Explain why tycoons wanted to keep government and business separate. • 10. List 2 problems associated with monopolies.

  2. 10/12: Monopolies

  3. Pro-Monopoly • Tycoons: • Robber Barons: Rockefeller, Carnegie, Vanderbilt, Morgan

  4. Pro-Monopoly • Free-Enterprise system: Keep the government out of business • Laissez-faire: idea that government should play as small a role in economic affairs. “LAZY GOVERNMENT”

  5. Andrew Carnegie • “It will be a great mistake for the community to shoot the millionaires, for they are the bees that make the most honey, and contribute most to the hive even after they have gorged themselves full.”

  6. Anti-monopoly • Monopolies reduce competition and are bad for a majority of the people (Consumers)

  7. Anti-monopoly • Farmers were forced to pay high train rates • Burned Their Crops for fuel instead of paying high rates • Wanted the government to set more fair Rates

  8. Sherman Anti-Trust Act • 1890- bans the formation of trusts and monopolies

  9. Child Labor

  10. Child Labor

  11. Child Labor

  12. Child Labor

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