HI125 Lecture Notes - Lecture 12: Federal Meat Inspection Act, Sherman Antitrust Act, Mass Distribution
Document Summary
Several factors that led to big business: technology advancement, ideas, consumerism, increased productivity, economies of scale, high output, lowered cost per unit. Factors will also impact its development, in to 1990s. Americans have a dichotomous/good & bad (polarized) attitude to big business: desire of material comfort and economic growth, mistrust of size and potential economic power, concern for basic american values which seem threatened by big business. Tycoons represented american success, and the opportunity/"american dream". Show the opportunity: but were also considered as robber barons due to business size and economic power, stop others entering the market, and exercise their power as a monopoly. And then take advantage of consumers, prices, labour, etc: tycoon"s values seemed to contradict certain values for the public. Anti-competition, chance of a monopoly to stifle competition, control prices, free market, etc: people were suspicious of businesses having control over the government. Interest groups arise demanding legislative action against big business.
