Big Business Monopolies and Trusts
Supportive
Dear Editor,
Big business monopolies and trusts were essential to the growth of America during the industrial revolution becoming an industrial nation. They boosted the economy by providing infrastructure which then create jobs for many people and they provide low-cost service to a wider base of consumers than other competing companies. An example of a monopoly that boosted the economy would be the Standard Oil company. In the beginning there were many oil companies who just dumped their waste out into the rivers or out in the open and never minded in finding a better way to dispose of the waste (Beattie, Investopedia.com). Then Standard Oil, who controlled over 90% of the production and distribution of oil in the United States, came and figured out how to make money from the waste of the other companies (Beattie, Investopedia.com). They came up in making Vaseline out of the waste creating many more jobs in the United States.
Then came up the idea of Social Darwinism. The belief was that the elite were "chosen" to be elite and control monopolies (britannica.com). This propelled the monopolies and corporations to grow and strive for success knowing that they were "chosen." With this motivation, monopolies continued to create more jobs making the economy grow. With these monopolies in the United States creating more and more jobs for people, they were truly vital to the country's advancement in becoming an industrialized nation.
Opposed
Dear Editor,
Big business monopolies and trusts were not particularly essential for the growth of the United States becoming and industrialized nation. They were extremely big monopolies and corporations who could basically control all production and distribution of products. The Standard Oil Company offers an example. "Rockefeller's Standard Oil Corporation brought other companies under their control and now Standard Oil companies existed in Ohio, Iowa, New Jersey, California, and elsewhere" (sageamericanhistory.com). They basically controlled almost every oil company and could change prices, lower production, or stop distribution to certain areas which they did.
Then they came up with the idea of Social Darwinism. "Social Darwinism is the theory that persons, groups, and races are subject to the same laws of natural selection as Charles Darwin had perceived in plants and animals in nature" (britannica.com). This means that only a selected group of people will be the elite which are the owners of monopolies and huge corporations, and that people or workers will be stuck working for them for the rest of their life. Another phrase to describe this theory is "survival of the fittest." With this idea of society, monopolies grew incredibly while the workers didn't gain anything. In fact they had worse working conditions. Then in result of these conditions, Labor Unions started to form.
Dear Editor,
Big business monopolies and trusts were essential to the growth of America during the industrial revolution becoming an industrial nation. They boosted the economy by providing infrastructure which then create jobs for many people and they provide low-cost service to a wider base of consumers than other competing companies. An example of a monopoly that boosted the economy would be the Standard Oil company. In the beginning there were many oil companies who just dumped their waste out into the rivers or out in the open and never minded in finding a better way to dispose of the waste (Beattie, Investopedia.com). Then Standard Oil, who controlled over 90% of the production and distribution of oil in the United States, came and figured out how to make money from the waste of the other companies (Beattie, Investopedia.com). They came up in making Vaseline out of the waste creating many more jobs in the United States.
Then came up the idea of Social Darwinism. The belief was that the elite were "chosen" to be elite and control monopolies (britannica.com). This propelled the monopolies and corporations to grow and strive for success knowing that they were "chosen." With this motivation, monopolies continued to create more jobs making the economy grow. With these monopolies in the United States creating more and more jobs for people, they were truly vital to the country's advancement in becoming an industrialized nation.
Opposed
Dear Editor,
Big business monopolies and trusts were not particularly essential for the growth of the United States becoming and industrialized nation. They were extremely big monopolies and corporations who could basically control all production and distribution of products. The Standard Oil Company offers an example. "Rockefeller's Standard Oil Corporation brought other companies under their control and now Standard Oil companies existed in Ohio, Iowa, New Jersey, California, and elsewhere" (sageamericanhistory.com). They basically controlled almost every oil company and could change prices, lower production, or stop distribution to certain areas which they did.
Then they came up with the idea of Social Darwinism. "Social Darwinism is the theory that persons, groups, and races are subject to the same laws of natural selection as Charles Darwin had perceived in plants and animals in nature" (britannica.com). This means that only a selected group of people will be the elite which are the owners of monopolies and huge corporations, and that people or workers will be stuck working for them for the rest of their life. Another phrase to describe this theory is "survival of the fittest." With this idea of society, monopolies grew incredibly while the workers didn't gain anything. In fact they had worse working conditions. Then in result of these conditions, Labor Unions started to form.
Labor Unions
Supportive
Dear Editor,
Labor Unions were necessary for the advancement of the United States and its citizens. They were organizations that helped laborers get fair wages and better working conditions. In the late 1800's and early 1900's, working conditions in corporations and industries were terrible and even children had to go through a day working in these conditions. "The labor movement led efforts to stop child labor, give health benefits and provide aid to workers who were injured or retired" (History.com). They had many different tactics to get what the people wanted. The most frequently used technique was the strike but they also boycotted products and sabotaged many factories (ushistory.org).
With the Labor Unions successfully attaining what the people wanted from the companies, workers were more willing to go back to work for the monopolies and companies. The more people working in the United States, the more the monopolies grow and in turn the more the economy grows.
Opposed
Dear Editor,
Labor Unions were not useful and was restricting the advancement of the United States as an industrialized nation. "Although labor unions have been celebrated in folk songs and stories as fearless champions of the downtrodden working man, this is not how economists see them. Economists who study unions—including some who are avowedly prounion—analyze them as cartels that raise wages above competitive levels by restricting the supply of labor to various firms and industries" (Reynolds, econlib.org). They helped workers earn the wages they wanted but it came at a price. When unions successfully raise the wage of labor, employers would be less likely to hire more employees (Reynolds, econlib.org). This makes Labor Unions a force against monopolies.
"Unions are immune from taxation and from antitrust laws. Companies are legally compelled to bargain with unions in good faith" (Reynolds, econlib.org). With these Labor Unions that don't get taxed, companies are basically forced to bargain with them in "good faith." These Labor Unions are stopping this nation to advance as an industrialized nation.
Dear Editor,
Labor Unions were necessary for the advancement of the United States and its citizens. They were organizations that helped laborers get fair wages and better working conditions. In the late 1800's and early 1900's, working conditions in corporations and industries were terrible and even children had to go through a day working in these conditions. "The labor movement led efforts to stop child labor, give health benefits and provide aid to workers who were injured or retired" (History.com). They had many different tactics to get what the people wanted. The most frequently used technique was the strike but they also boycotted products and sabotaged many factories (ushistory.org).
With the Labor Unions successfully attaining what the people wanted from the companies, workers were more willing to go back to work for the monopolies and companies. The more people working in the United States, the more the monopolies grow and in turn the more the economy grows.
Opposed
Dear Editor,
Labor Unions were not useful and was restricting the advancement of the United States as an industrialized nation. "Although labor unions have been celebrated in folk songs and stories as fearless champions of the downtrodden working man, this is not how economists see them. Economists who study unions—including some who are avowedly prounion—analyze them as cartels that raise wages above competitive levels by restricting the supply of labor to various firms and industries" (Reynolds, econlib.org). They helped workers earn the wages they wanted but it came at a price. When unions successfully raise the wage of labor, employers would be less likely to hire more employees (Reynolds, econlib.org). This makes Labor Unions a force against monopolies.
"Unions are immune from taxation and from antitrust laws. Companies are legally compelled to bargain with unions in good faith" (Reynolds, econlib.org). With these Labor Unions that don't get taxed, companies are basically forced to bargain with them in "good faith." These Labor Unions are stopping this nation to advance as an industrialized nation.
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Editorial
Ultimately, America was better off due to the expansion of Big Business because monopolies were the reason the economy grew during the industrial revolution and Labor Unions were just stopping the country to advance. They help create jobs for people in the United States by growing and expanding their companies to different places in the country. Take for example the Standard Oil company. They controlled other companies and competitors which made them bigger and successful (Beattie, Investopedia.com). Then they created other ways of making money such as recycling the waste to make Vaseline (Beattie, Investopedia.com). Then the idea of Social Darwinism helped the monopolies grow even more through the industrial revolution by believing that they were selected to become rich and control many companies (britannica.com).
The Labor Unions are what I think the ones that are stopping this nation to advance. They help the workers go on strike, boycott products, and sabotage many factories of different monopolies (ushistory.org). With the halt of buying products and destroying of factories where they produce the products to distribute, the economy slows down and doesn't advance as much. While they are doing all this for a good cause which is to help the workers get better working conditions, I think they are just stopping the nation's advancement. This concludes that the United States was better off due to the expansion of Big Business.
The Labor Unions are what I think the ones that are stopping this nation to advance. They help the workers go on strike, boycott products, and sabotage many factories of different monopolies (ushistory.org). With the halt of buying products and destroying of factories where they produce the products to distribute, the economy slows down and doesn't advance as much. While they are doing all this for a good cause which is to help the workers get better working conditions, I think they are just stopping the nation's advancement. This concludes that the United States was better off due to the expansion of Big Business.
Works Cited
Beattie, Andrew. "A History Of U.S. Monopolies." Investopedia. N.p., 19 June 2007. Web. 11 Mar. 2015.‹http://http://www.investopedia.com/articles/economics/08/hammer-antitrust.asp›
"The Industrial Revolution in America." The Industrial Revolution in America. N.p., n.d. Web. 11 Mar.2015.‹http://http://www.sageamericanhistory.net/gildedage/topics/railroads_industry.html›
Reynolds, Morgan O. "Labor Unions." : The Concise Encyclopedia of Economics. N.p., n.d. Web. 11 Mar. 2015.‹http://http://www.econlib.org/library/Enc/LaborUnions.html›
"Social Darwinism." Encyclopedia Britannica Online. Encyclopedia Britannica, n.d. Web. 24 Feb. 2015.‹http://http://www.britannica.com/EBchecked/topic/551058/social-Darwinism›
"Labor Movement." History.com. A&E Television Networks, n.d. Web. 25 Feb. 2015.‹http://http://www.history.com/topics/labor›
"Labor vs. Management." Ushistory.org. Independence Hall Association, n.d. Web. 07 Mar. 2015.‹http://http://www.ushistory.org/us/37b.asp›
Beattie, Andrew. "A History Of U.S. Monopolies." Investopedia. N.p., 19 June 2007. Web. 11 Mar. 2015.‹http://http://www.investopedia.com/articles/economics/08/hammer-antitrust.asp›
"The Industrial Revolution in America." The Industrial Revolution in America. N.p., n.d. Web. 11 Mar.2015.‹http://http://www.sageamericanhistory.net/gildedage/topics/railroads_industry.html›
Reynolds, Morgan O. "Labor Unions." : The Concise Encyclopedia of Economics. N.p., n.d. Web. 11 Mar. 2015.‹http://http://www.econlib.org/library/Enc/LaborUnions.html›
"Social Darwinism." Encyclopedia Britannica Online. Encyclopedia Britannica, n.d. Web. 24 Feb. 2015.‹http://http://www.britannica.com/EBchecked/topic/551058/social-Darwinism›
"Labor Movement." History.com. A&E Television Networks, n.d. Web. 25 Feb. 2015.‹http://http://www.history.com/topics/labor›
"Labor vs. Management." Ushistory.org. Independence Hall Association, n.d. Web. 07 Mar. 2015.‹http://http://www.ushistory.org/us/37b.asp›