HIS 315L Lecture Notes - Lecture 7: Horizontal Integration, Farmers' Alliance, Social Evolution
Document Summary
Postbellum industrialization & urbanization: economic expansion, boom and bust business cycle. Big business had enough influence in the banks that it was the banks interest to have those businesses get through the depression: business concentrations big business. People became extremely wealthy: economic and political laissez-faire . Gov played no role in interfering with businesses. No regulation that would infringed on the way a businessman wanted to run his business: increased immigration. Late 19th century-early 20th: manufacturing working class = impoverished, extreme economic inequality, labor organization & labor strikes. The governor of the state called the national guard. National guard was created to respond to civil disturbances like labor strikes; army for the state: fears of industrial war , state regulation and judicial nullification, eg contract doctrine (1905-1937) New york law -max 10 hr day. Unconstitutional because it deprived workers of their freedom of contract of their freedom to work for whoever they want to work for.
