Arithmetic
Biology
English
AP English Literature
Fun Stuff
Katie Noh
@kayteano
·
3 Followers
Follow
The Pendleton Act of 1881 and Sherman Antitrust Act were key reforms during the Gilded Age that aimed to address corruption in government hiring and monopolistic business practices. These acts, along with concepts like vertical and horizontal integration, shaped the economic landscape of late 19th century America.
11/15/2023
173
The Pendleton Act of 1881, also known as the Civil Service Reform Act, was a landmark piece of legislation that aimed to reform the federal government's hiring practices.
Key points about the Pendleton Act:
Highlight: The Pendleton Act was a response to the problematic spoils system, which often led to unqualified individuals obtaining government positions through political connections or bribery.
Example: The assassination of President Garfield by a disgruntled office seeker highlighted the need for civil service reform.
Quote: "What did the Pendleton Act do? It created exams that needed to be passed to get a government role."
President Chester Arthur played a crucial role in supporting and passing the Pendleton Act, which marked a significant step towards professionalizing the federal workforce and reducing corruption in government hiring.
Andrew Carnegie, a prominent industrialist of the Gilded Age, published his influential essay "The Gospel of Wealth" in June 1889.
Key ideas from Carnegie's Gospel of Wealth:
Quote: Carnegie argued that though unregulated capitalism might be "hard for the individual" it was "best for the race."
Carnegie practiced what he preached, donating over $350 million of his fortune to fund libraries, universities, concert halls, and other public institutions.
Highlight: Carnegie's philosophy of philanthropy has had a lasting impact on charitable giving by the wealthy, though it has also been criticized as paternalistic.
This period of rapid industrialization and economic growth, known as the Gilded Age, saw the rise of powerful business magnates and the need for government regulation to address the excesses of unfettered capitalism.
The Sherman Antitrust Act, approved on April 8, 1890, was a groundbreaking piece of legislation aimed at curbing monopolistic practices in American business.
Key aspects of the Sherman Antitrust Act:
Highlight: Why was the Sherman Antitrust Act passed? It was enacted to stop monopolies and promote fair competition in the marketplace.
Definition: Sherman Antitrust Act simple definition: A law designed to prevent businesses from becoming too powerful and stifling competition.
The business landscape of the Gilded Age was characterized by two main integration strategies:
Vertical Integration:
Horizontal Integration:
Example: Who used vertical integration? Gustavus Swift in meat-packing and Andrew Carnegie in the steel industry.
Vocabulary: Horizontal integration Gilded Age: The process of one company taking control of its former competitors in a specific industry.
Average App Rating
Students use Knowunity
In Education App Charts in 12 Countries
Students uploaded study notes
iOS User
Stefan S, iOS User
SuSSan, iOS User
Katie Noh
@kayteano
·
3 Followers
Follow
The Pendleton Act of 1881 and Sherman Antitrust Act were key reforms during the Gilded Age that aimed to address corruption in government hiring and monopolistic business practices. These acts, along with concepts like vertical and horizontal integration, shaped the economic landscape of late 19th century America.
The Pendleton Act of 1881, also known as the Civil Service Reform Act, was a landmark piece of legislation that aimed to reform the federal government's hiring practices.
Key points about the Pendleton Act:
Highlight: The Pendleton Act was a response to the problematic spoils system, which often led to unqualified individuals obtaining government positions through political connections or bribery.
Example: The assassination of President Garfield by a disgruntled office seeker highlighted the need for civil service reform.
Quote: "What did the Pendleton Act do? It created exams that needed to be passed to get a government role."
President Chester Arthur played a crucial role in supporting and passing the Pendleton Act, which marked a significant step towards professionalizing the federal workforce and reducing corruption in government hiring.
Andrew Carnegie, a prominent industrialist of the Gilded Age, published his influential essay "The Gospel of Wealth" in June 1889.
Key ideas from Carnegie's Gospel of Wealth:
Quote: Carnegie argued that though unregulated capitalism might be "hard for the individual" it was "best for the race."
Carnegie practiced what he preached, donating over $350 million of his fortune to fund libraries, universities, concert halls, and other public institutions.
Highlight: Carnegie's philosophy of philanthropy has had a lasting impact on charitable giving by the wealthy, though it has also been criticized as paternalistic.
This period of rapid industrialization and economic growth, known as the Gilded Age, saw the rise of powerful business magnates and the need for government regulation to address the excesses of unfettered capitalism.
The Sherman Antitrust Act, approved on April 8, 1890, was a groundbreaking piece of legislation aimed at curbing monopolistic practices in American business.
Key aspects of the Sherman Antitrust Act:
Highlight: Why was the Sherman Antitrust Act passed? It was enacted to stop monopolies and promote fair competition in the marketplace.
Definition: Sherman Antitrust Act simple definition: A law designed to prevent businesses from becoming too powerful and stifling competition.
The business landscape of the Gilded Age was characterized by two main integration strategies:
Vertical Integration:
Horizontal Integration:
Example: Who used vertical integration? Gustavus Swift in meat-packing and Andrew Carnegie in the steel industry.
Vocabulary: Horizontal integration Gilded Age: The process of one company taking control of its former competitors in a specific industry.
Average App Rating
Students use Knowunity
In Education App Charts in 12 Countries
Students uploaded study notes
iOS User
Stefan S, iOS User
SuSSan, iOS User
