Sonny An

US History Honors December 11th, 2012

Chapter 11, Sections 3 & 4 Textbook Notes Section 3: Prosperity & American Business          1925: Bruce Barton’s The Man Nobody Knows, glorifies big business and Jesus. 1921: Edward Earl Purinton’s article idolizing big business. 1929: Walter Chrysler, Time magazine’s Man of the Year. Industrial productivity: Amount of goods each hour of labor produced. o 1922 to 1928: Rose 70%, good for corporate investors and ordinary workers. Henry Ford: 1913 to 1914: Introduces assembly/production lines for automobile construction. May 1st, 1931: Empire State Building at 102 stories, tallest building in the world. Capital: Accumulation of money. Corporations: Businesses owned by multiple stockholders, whose personal rights and responsibilities are legally separate from the organization’s. Federal Trade Commission to protect small businesses against takeovers by corporations. o  William E. Humphrey: Appointed to FTC chairman by President Coolidge, however, encouraged instead of prosecuting big business. Oligopoly: A situation where a few major producers influence an entire industry. o  By 1929: 1% of the banks controlled more than 46% of the country’s banking resources. Growing complexity in business management (both small and large). o  1924: Harvard Graduate School of Business Administration, supported by president of First National Bank of New York. “The American Plan” to discourage unions, the “punishment.” o o o o  Hired spies to blacklist laborers. “Yellow-dog” contracts: Condition of employment, agreeing not to become a member of a union or to organize fellow employees. 1915: Supreme Court upholds yellow-dog contracts. 1921: Supreme Court declares union boycott illegal and drastically limits workers’ rights to picket. Welfare capitalism: Programs employers adopted in order to convince workers they did not need unions. o Elbert Gary, head of U.S. Steel: “It pays to treat men in that way.” 1|Page

Sonny An
US History Honors December 11th, 2012 o

“Industrial democracy”: Workers elect representatives to speak to management.  However, known as “Kiss Me Clubs,” as they gave workers little to no power.

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Rotary Club: “He profits most who serves best.”  “The businessman was no longer a profit-maker or even a bread-winner, he was a public servant.”

Section 4: The Changing Nature of Work   Industrialists: People who dealt with the commercial production and sale of goods and services, to act on the realization that each worker is also a consumer. 1914: Henry Ford doubles wages of his workers in Highland Park, Michigan. o o  o  1926: Ford reduces workweek from 48-hour, 6-day  40-hour, 5-day week. “All that he needs is the desire to work.” – Ford “Ford whisper” and “Fordization of the face”: Lacking in expression, in speech and features. Frederick Taylor: Hard work = “the real monotonous grind which trains character.” o o  work. o  o o  o o  1920 to 1930: 36% increase in white-collar workers (10.5 million  14.3 million). Compare to autoworkers making $2,000 annually. By 1925: U.S. corporations spend > than $1 billion on advertising. E. Remington and Sons: Sold first typewriting machines in 1874, primarily women typewriters as males dominated executive positions. Sinclair Lewis’ The Job, concerning women workers and their lack of opportunity. By 1920s: Women in clerical, unskilled occupations with little chance for advancement vs. men in managerial positions, etc. 1929: Sales and advertising, white-collar professions, $5,000 to $30,000 a year. Scientific management: Analysis of effective methods to increase productivity, offered cash incentives to workers who produced more than standard. 1911: The Principles of Scientific Management, adopted by auto industry. White-collar workers: Person who performs professional, managerial, or administrative

Robot: Machine that acts like a person or a person who acts like a machine.

By 1930: 44% of employed women worked at white-collar jobs.

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