Lecture 2 Questions

History 106 with Dunlap at Texas A&M University

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By: Bryan Kelly
Textbook:

American Made: Shapers of the American Economy (2nd Edition)
Friday Night Lights: A Town, a Team, a Dream

Learning Tree

The Gay Place

The Story of American Freedom
Created: 2012-02-18
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Views: 32

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What region was the one place not affected by industrialization?

the south

What region is settled as part of "industrial America"?

the west

Name three reasons we switch to corporations.

Limited liability

Rules

Social purpose

What does "limited liability" mean?

you are only liable for the amount of the company you own, that way you don't risk it all

What significance do rules have for corporations?

Rules make it so you know what you are getting into, know your rights, whats done with your money

What social purpose do corporations serve?

they encourage people to invest

When do corporations become prominent?

during industrialization

What started big business?

Rail Roads

How did rail roads receive the capital to take off?

land grants

Between 1865 and 1900 congress granted how many acres to Rail Roads?

110 Million

What did the Morrill Acts do?

land grant universities

Where di Carnegie acquire the skills that he applied to his steel industry?

R.R.

When did the lumber demand peak and why?

1900, RR buildings and ties all require wood

What was the first major, non-port (non-major waterfront) city and why?

Chicago, due to: lake michigan, welland canal, erie canal, RR

What resource do the great plains lack?

water/rivers

Why is the government not as needed after the building of railroads?

people have enough money/capital now to fund own businesses and buildings

Where did andrew carnegie's money go?

Immoral to die rich so Carnegie Libraries- gave public a head start, same kind he had

He was all about self-education

What business ideology is most prominent in this time period?

supply and demand

What is the aim of unionization?

everyone gets benefits, workers need the money the owner has, protect rights

What was the goal of conservation?

intended to supply steady, low cost supply of resources by managing release of public land

What, in 1913, was the election of senators switched to a popular vote?

some corporations were so big they could effectively dominate the state they work in, senators elected by state legislature = obvious corporate control