HIST 155 - Exam 1
$5 daily wage
1914
Ford: I am an ardent believer in the gospel of good will
"CHARACTER & LIFESTYLE" ELIGIBILITY CONDITIONS TO QUALIFY FOR 5$
WAGE:
...male employee needed to demonstrate that they did not drink alcohol; did not
physically mistreat his family; did not have boarders in his home; regularly
deposited $ in savings account
-It was conceived as a profit-sharing plan which would motivate Ford employees
to adopt efficient and productive habits at both, the factory and the home. The
program prevented unionization efforts, increased productivity and profits and
improved living conditions for workers.
Nortnern Securities CO. vs US
--1904: Supreme Court—in Northern Securities v. United States ruling—upheld
the constitutionality of break-up order for Northern Securities
-ROOSEVELT (in 1901): "The railway is a public servant. Its rates should be just
to, and open to, all shippers alike (violates Sherman anti-trust act)
---several RR corporations in Northwest region of U.S., close to bankruptcy, were
consolidated into a single holding company
--Northern Securities holding company formed in mid-1890s under guidance of
financier J. P. Morgan(&, in turn, set region-wide RR rates)
-Supported the commerce clause-increased power of the federal government
-Important antitrust case because it provided Important legal precedents for
many later cases
-some restraints are reasonable, this deal was not (Justice White)
George Eastman
1888, lightweight Kodak camera that makes photography an affordable pastime
and history is documented in pictures
-"NO-STRINGS-ATTACHED" FINANCIAL APPROACH TO WELFARE
CAPITALISM:
, "wage dividend plans" & Kodak stock disbursals amongst workers (wage
dividends was a not a gift but extra pay for work)
-Kodak became 1st industrial employer to establish a pension plan for workers
that was "contractual, nondiscretionary, & fully insured"
-money is more important to workers than other services/goods
-cash benefits were also less manipulative
Interstate Commerce Commission
Established in 1887; A law that expanded federal power over businesses by
prohibiting the formation of trusts and discriminatory rates by railroads and
creating the first federal regulatory agency Surface transportation under its
jurisdiction included railroads, trucking companies, bus lines, freight forwarders,
water carriers, oil pipelines, transportation brokers, and express agencies.
-Theodore Roosevelt demonstrated support of progressive reforms by
strengthening this
--federal government oversight of conduct/ rate setting of railroads via a
permanent regulatory agency(prototype for 20thc. federal government regulatory
approach)
--part of Congress's 1887 Interstate Commerce Act
-ALL forms of railroad rebates & rate discrimination, & railroad pools
-[note: many of America's leading corporations ("trusts") routinely broke it
—including Standard Oil, which was involved in 100s of instances of benefitting
from RR rates during 1900-1905
-used to stabilize the industry and prevent ruthless competition, ensure shippers
were treated fairly
Joesph Schumpeter
entreprenuer- those who think outside the box
who "revolutionize the pattern of production by exploiting a new inventionor, more
generally,an untried technological possibilityor by opening up a new supply of
materials, by reorganizing an industry"
-viewed the entrepreneur as "more self-centered than [managers] because he
relies less than they do on traditions and connections and because his
characteristic task consists of breaking up old, and making new, tradition"
$5 daily wage
1914
Ford: I am an ardent believer in the gospel of good will
"CHARACTER & LIFESTYLE" ELIGIBILITY CONDITIONS TO QUALIFY FOR 5$
WAGE:
...male employee needed to demonstrate that they did not drink alcohol; did not
physically mistreat his family; did not have boarders in his home; regularly
deposited $ in savings account
-It was conceived as a profit-sharing plan which would motivate Ford employees
to adopt efficient and productive habits at both, the factory and the home. The
program prevented unionization efforts, increased productivity and profits and
improved living conditions for workers.
Nortnern Securities CO. vs US
--1904: Supreme Court—in Northern Securities v. United States ruling—upheld
the constitutionality of break-up order for Northern Securities
-ROOSEVELT (in 1901): "The railway is a public servant. Its rates should be just
to, and open to, all shippers alike (violates Sherman anti-trust act)
---several RR corporations in Northwest region of U.S., close to bankruptcy, were
consolidated into a single holding company
--Northern Securities holding company formed in mid-1890s under guidance of
financier J. P. Morgan(&, in turn, set region-wide RR rates)
-Supported the commerce clause-increased power of the federal government
-Important antitrust case because it provided Important legal precedents for
many later cases
-some restraints are reasonable, this deal was not (Justice White)
George Eastman
1888, lightweight Kodak camera that makes photography an affordable pastime
and history is documented in pictures
-"NO-STRINGS-ATTACHED" FINANCIAL APPROACH TO WELFARE
CAPITALISM:
, "wage dividend plans" & Kodak stock disbursals amongst workers (wage
dividends was a not a gift but extra pay for work)
-Kodak became 1st industrial employer to establish a pension plan for workers
that was "contractual, nondiscretionary, & fully insured"
-money is more important to workers than other services/goods
-cash benefits were also less manipulative
Interstate Commerce Commission
Established in 1887; A law that expanded federal power over businesses by
prohibiting the formation of trusts and discriminatory rates by railroads and
creating the first federal regulatory agency Surface transportation under its
jurisdiction included railroads, trucking companies, bus lines, freight forwarders,
water carriers, oil pipelines, transportation brokers, and express agencies.
-Theodore Roosevelt demonstrated support of progressive reforms by
strengthening this
--federal government oversight of conduct/ rate setting of railroads via a
permanent regulatory agency(prototype for 20thc. federal government regulatory
approach)
--part of Congress's 1887 Interstate Commerce Act
-ALL forms of railroad rebates & rate discrimination, & railroad pools
-[note: many of America's leading corporations ("trusts") routinely broke it
—including Standard Oil, which was involved in 100s of instances of benefitting
from RR rates during 1900-1905
-used to stabilize the industry and prevent ruthless competition, ensure shippers
were treated fairly
Joesph Schumpeter
entreprenuer- those who think outside the box
who "revolutionize the pattern of production by exploiting a new inventionor, more
generally,an untried technological possibilityor by opening up a new supply of
materials, by reorganizing an industry"
-viewed the entrepreneur as "more self-centered than [managers] because he
relies less than they do on traditions and connections and because his
characteristic task consists of breaking up old, and making new, tradition"
