Trusts And Monopolies
Published on Nov 26, 2015
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PRESENTATION OUTLINE
TRUSTS AND MONOPOLIES
DYLAN GRUBE AND SHAI-LIN GOTHREAU
MONOPOLIES-PROBLEMS
- Monopolies are when single corporations come to control entire industries.
- Problems: businesses wanted to limit/eliminate competition to control prices and profits.
- Smaller companies struggled with business
JOHN D ROCKEFELLER
WAS A FAMOUS OIL MONOPOLIST DURING THE PROGRESSIVE ERA.
ANTI-MONOPOLIES
- President Theodore Roosevelt wanted to counteract monopolies
- He placed pressure on legislators to deal with monopolies
SOLUTIONS TO STOPPING MONOPOLIES
- Government can limit the power companies have
- Price capping- government sets a specific price range
TRUSTS
COMBINATION OF CORPORATIONS BOUND BY A LEGAL AGREEMENT
PROBLEMS WITH TRUSTS
- High prices drove out small companies
- High prices for low-quality goods
- Low wages and unsafe working conditions
ANTITRUSTS
- Sherman Anti-Trust Act (1890)
- Theodore Roosevelt
THE SUPREME COURT'S ROLE
- Northern Securities Company deemed illegal
- John D. Rockefeller's Standard Oil split into smaller companies
