HIST 1103 Lecture Notes - Lecture 10: Pullman Company, Pullman Strike, Samuel Gompers
Document Summary
The search for order in the machine age: business and labor. Introduction: themes for industrialization and fragmentation as nation makes transition b. from a rural-agrarian society to an urban industrial one. In this case, how business and labor sought order during this transformation by reacting to fragmentation with consolidation: questions to think about c. i. How did business respond to the changes in the economy between. How did business and society justify these responses? c. ii. Strategy of consolidation eliminates competition resulting in lower costs, higher prices, and greater profits. Also creates greater stability in the face of change. a. ii. Voting stock of multiple companies assigned to a single board of trustees who operate companies as one a. iii. 2. Example of standard oil and john d. rockefeller. Standard oil basically held full monopoly over the oil industry. a. iv. Control majority of stock in various corporations within the same industry a. iv. 2. a. iv. 3.
