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Government as Regulator and Promoter

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Quinn Cottone

on 10 February 2015

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Transcript of Government as Regulator and Promoter

Broke Up Unions
Unions: groups of workers who wanted to voice their opinions in their workplaces
Sherman Anti-trust Act: a "comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade."
Laissez Faire and Social Darwinism
Laissez Faire: the idea that the government does not get involved in the economics of companies
Social Darwinism: the theory that individuals, groups, and peoples are subject to the same Darwinian laws of natural selection as plants and animals.
Increase in land and transportation
Acts were put in place that gave free land to those that agreed to farm it or sell it to maintain agricultural and technical colleges
ex: The Homestead Act
The Morrill Land Grant Act
Acts were put into place that authorized the building of a railway system stretching from the East Coast to the West Coast
ex: The Pacific Railway Act
Interstate Commercial Act and Interstate Commerce Commission
ICA: gave the government the power to regulate the railroads
ICC: in charge of monitoring railroads to make sure they were listening to the regulations set in the ICA

Increase in Tariffs
Tariffs raised money to foster industry
Some businesses did not agree with the raises in tariffs because it meant they would have to pay more money
ex: McKinley Tariff
Laissez Faire gave companies the ability to grow without being restricted by the government
Land Grants gave companies the ability to train workers and grow bigger
ICA and ICC gave the government control of railroads but companies could still use them to transports items quickly and easily
Sherman Anti-trust Act gave the government the power to break up unions which benefited the companies because they would not be sued all the time
Federal Government as:
of Market Capitalism
Market Capitalism: An economy that operates by voluntary exchange in a free market and is not planned or controlled by a central authority; a capitalistic economy.
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