US History HonorsDecember 11th, 20121 |Page Chapter 11, Sections 3 & 4 Textbook Notes
Section 3: Prosperity & American Business
The Man Nobody Knows
, glorifies big business and Jesus.
Edward Earl Purinton
’s article idolizing big business.
magazine’s Man of the Year.
: Amount of goods each hour of labor produced.
1922 to 1928: Rose 70%, good for corporate investors and ordinary workers.
: 1913 to 1914: Introduces assembly/production lines for automobileconstruction.
Empire State Building
at 102 stories, tallest building in the world.
: Accumulation of money.
: Businesses owned by multiple stockholders, whose personal rights andresponsibilities are legally separate from the
Federal Trade Commission
to protect small businesses against takeovers bycorporations.
William E. Humphrey
: Appointed to FTC chairman by President Coolidge,however, encouraged instead of prosecuting big business.
: A situation where a few major producers influence an entire industry.
By 1929: 1% of the banks controlled more than 46% of the country’s banking
Growing complexity in business management (both small and large).
1924: Harvard Graduate School of Business Administration, supported bypresident of First National Bank of New York.
The American Plan
to discourage unions, the “punishment.”
Hired spies to blacklist laborers.
: Condition of employment, agreeing not to become amember of a union or to organize fellow employees.
1915: Supreme Court upholds yellow-dog contracts.
: Supreme Court declares union boycott illegal and drastically limits workers’
rights to picket.
: Programs employers adopted in order to convince workers they didnot need unions.
, head of U.S. Steel: “It pays to treat men in that way.”