INTRO 3: 1880-1920: Unregulated capitalism: the roots of the modern American businesses

The Lochner era (1890-1937)

Name from Supreme court case

When the supreme court decided a case, they were against from economical regulations. There were states who attempted to pass some regulations for workers.

1890-1910

Progressive Era

1890

The Sherman Antitrust act, where they were against trusts. When companies were too strong, the gov could use the Sherman antitrust act to counteract.

Trust

Financial agreement to control the prices, to have high prices.

Great merger movement

They could merge and could agree with each other.

1906, Pure Food and Drug act

gov could inspect food that were sold in others state and produced in another one.

Reconstruction period

integrate AFAM to American society.

1st national strike

After one railroad company announcing that it would cut the wages to 10%.

• Riot in Baltimore in 1877: a failure, dozens of workers died. No organizations to protect them. Labor unions were not recognized (only happened in 1900s)

• Bombing in the Haymarket Square in Chicago in 1886: they had organizations, Knights of Labor, called for a national strike. They were asking about the 8h day. Killing of 7 police officers. 8 anarchists were arrested for the bombing and 4 were executed.

2nd industrial revolution

changes in the production of iron and steel, which enabled the production in large scale.

Pittsburgh

Named steel city

Big corporations started to appear, most influential unit.

Standard oil, Carneige Steel Corp., Singer Co.

These companies also tried to create device: holding (one parent company owning different smaller companies).

1900

Steelworkers in Pittsburgh, 500 companies employed more than 1000 workers, and 4 of them employed more than 10 000 workers.

States voting to regulate child labor

1.5M children under 16 were working in that period, in agriculture or factories.