Gilded Age Packet Questions

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Gilded Age Packet Questions

1) Explain the dfference between corporations and pools. WHich one of these is set up on tenuous ground? Why?
-corps: co-sell stock to multiple investors, no risk except $$ involved
-pools: Companies get together, set limits on production and agree to share wealth
-pools on tenuous ground b/c relies on honesty, ex. someone agrees to only sell 20,000 items and share the profit, then sells an extra 10,000 without telling anyone and keeps the profit

2) Why does horizontal integration provide a sizeable opportunity for illegal, and certainly immoral, business practices?
-one company takes over control of all other companies that produce same product
-creates monopoly, with no competition one company gets all the money

3) How did the advent of machines have the effect of devaluing the worker?
-reduced employer with employee
-specialization and devaluation of jobs came because machines were taking over the work.
-increased company control
- employment of woman children
-new threats in the workplace

4)what were the key differences between the following cases: Holden vs hardy and lochnear vs N.Y
-Holden vs Hardy was about upholding regulations on miner working hours
-Lochner vs. NY was about rejecting regulations on bakers working working hours

5). Do you agree with the USSC’s decision in Lochner? Why or Why not?
-rejected regulations on bakers working hours
-By a 5–4 vote, the Supreme Court rejected the argument that the law(workers can only work 10 hours a day) was necessary to protect the health of bakers, deciding it was a labor law attempting to regulate the terms of employment, and calling it an "unreasonable, unnecessary and arbitrary interference with the right and liberty of the individual to contract."
-agree, baking is not a life threatening job

6. Give two reasons why employers had the upper hand during the Union RR strikes?
-they had strike breakers
-hired stste militias to break up protest
-employers still control worker's wages

7. Was the initial reason workers had that preceded the Haymarket Square riot a good one? Why or why not?
-it was in response to police brutality
-campaign for 8 hr workday
-opinion

8. Was the fear that arose in the public after
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