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#flo #inclass #hw
1 pt 2!
- intro
- railroad financial bubble bursts in 1873
- econ stagnates
- worker's wages slashes
- railroads shut down! "nations lifeblood"
- people went on strike, started to destroy the railroads so they coudnt get reopened
- big violence happened
- eventually dealt with by soldiers
- means we need
- institutionalized unions
- buisnisess need political influence and gov aid
- railroad financial bubble bursts in 1873
- the march of capital
- skills mattered less and less
- cus industrialised, mass producing
- taylorism!
- subdivide tasks to increase efficiency
- "works as interchangable as the parts they were using"
- specialization, means crazy efficiency
- paving the way for the assembly line
- america is a crazy large industrial nation
- visible hand operated between the worked and the owners? hm
- mass production means only the very wealthy can do it
- so only the rich can get richer
- competitive marketplace means a turmultious marketplace
- price drops cuts into profit drops
- so we get collusion and insider trading and such!
- "the great merger" melted away competition
- monopoly! it's here.
and, ofc, next we get the rise of inequality greatest advances in efficiency and productitivity ever, due to industrial capitalism
industrial rev created lots of sh*tty jobs and lot's of inequality!
- richest 10% controlled 90% of the wealth
- ideas to morally legitimize the crazy rich had to be created
- ie. twisting of darwins evolutionary theory
- "inequality of outcomes was to be not merely tolerated but encouraged and celebrated" %%- industrial capatalism%%
the labor movement - social darwinism was not accepted by the laborers - great railroad strike failing led to workers thinking they needed to organize
so they made the Knights of Labor
had a failure, then regrouped to fight for 8 hours days didn't go well..
then we get AFL
lots of strikes and such!
the populist movement - "wall street owns the country" was a popular sentiment - not of the people or for the people, ect - farmers made the alliance
end at "The alliance's most innovative programs were a series of farmers' cooperatives that enabled farmers to negotiate higher prices for their crops and lower prices for the goods they purchased. These co"
- skills mattered less and less