The wealthy men in the railroad were suspected to careless for the people who worked for them. In conclusion, everything was full of corruption in the Gilded Age. Railroads changed the money making game and made fast money. It made business easy to transport, rather than the slow process of moving the merchandise. After the railroads the technology seemed to explode to the fast pace world we have today.
In recent years large companies have also been paying their workers higher wages. And the more profit a company makes the more it benefits the economy. “Americans think the U.S. economy benefits when big businesses or small businesses make a profit, although, by 84% to 64%, more consider small-business profits helpful”(Saad). Although those are some supporting facts for large businesses in America, they are too powerful and too rich. In the past and even in present time large companies generally hurt their consumers and workers.
They believed trusts and monopolies eliminated competition which wasn’t fair to smaller business owners. However, using trusts and monopolies granted a business leader to gain control of a larger area. Competition ruined businesses and it took away people’s jobs because they were always going against each other. Losing small businesses was a small price to pay for the large growth of America during this time. Having control of a larger area allowed new jobs to from, reduction of goods prices, and it built up the economy.
By raising minimum wage, the value of these training opportunities and incentive to earn more money goes out the door. Truth be told, it’s just life, and life isn’t always fair. By raising the minimum wage, it opens up the opportunity for less qualified employees to earn the same amount of money as the higher skilled workers. If an employer believes an employee is highly qualified, they will start their pay higher than the current minimum wage. Some may beg to differ and say that if the company is small or big should be taken into considerations and that is actually Another reason the government should not raise minimum wage, because the size of companies varies.
A monopoly had many negative effects on consumers and the workers. A monopoly was negative for the consumers because without competition, they don’t have choices. The business has all the control. They can set the price as high as they want since they have no competitors, give the workers low wedges, more work time, and have poor working conditions. I believe that the government should break up Standard Oil’s monopoly.
The model is creating vast opportunities for the wealthy and stripping away opportunity for the rest of the country. The model is also wreaking havoc on organized labor in the United States. Unions are an important entity in the field of work in which they create more job security for workers and fights for their rights in a collective and organized way. Unions are also the strongest regulatory force that corporations face (Leopold, p. 36). This allows union workers to be protected against greedy corporations.
Despite progressive victories for organized labor being achieved, both internal and external feuds and threats consistently inhibited large scale gains for the movement. Some of the victories included improved working conditions, checks against monopolies, and protections against child labor. Despite these advances, a grand coalition of workers were unable to totally unite and change the tide of rampant and abusive capitalism in the country. This led to the continuation of a very volatile growing economy that left numerous working-class Americans in shambles, unable to climb out of the holes their wage reliance keeps them in. In order to maintain their massive profits and growing power, the big business owners proved that they were willing to subjugate their own workers in order to stockpile inexplicable piles of
Kennedy says in his news conference," If this rise in the cost of steel is imitated by the rest of the industry, instead of rescinded, it would increase the cost of homes, autos, appliances, and most other items for every American family. It would increase the cost of machinery and tools to every American businessman and farmer. It would seriously handicap our efforts to prevent an inflationary spiral from eating up the pensions of our older citizens, and our new gains in purchasing power"(line 23-31) This shows that when the decline of the companies it will seriously handicap the American people due to the large increase in prices. This is also shown in, "And it would surely handicap our efforts to induce other industries and unions adopt responsible price and wage policies"(line 43-45) This shows that it would seriously hurt Americans. Kennedy says more about how the prices are going to have a devastating increase in price, which is going to lead to competition in foreign markets as people are not going to buy our products if they are more expensive than other countries, this is shown in "how more efficiency and better prices could be obtained, reducing prices in this industry in recognition of lower costs, their unusually good labor contract, their foreign competition and their increase in production and profits
Corporation should have a first amendment right to spend as much money as they want to influence the outcome of an election. However when corporations, donate unlimited amount of money, it is to get something in return. Which leads to corruption because candidates are more likely to be drawn by the money and change their positions so that it aligns with the business, unions and only benefit the rich. That in itself goes against the first amendment because the average american can not have their free speech herd over the millions of dollars donated by
The minimum wage should not be raised because it would increase the price for the consumer, it could harm the small businesses of America, and it could cause millions of minimum wage workers to be laid off. If the minimum wage were to increase, consumers could see a rise in prices in their products. A majority of minimum wage workers are in a high competitive market, where the companies make smaller profit. In order for companies to
The businesses took advantage of their workers by extending work hours but also leaving their wages the same. They were trying to work them for every penny they could not caring who they were hurting in the process. The people also disfavored the new political system they did not agree with politicians no longer listening to the opinions of the people, they felt that they were being silenced and they could do nothing about it. The corporations may have lowered the costs of a few accommodations but it was outweighed by the unfairness the people had to deal with. The growing of large businesses in size, number, and influenced changed the United States severely.
“When the Civil War came, the demands for his goods increased dramatically, and Rockefeller found himself amassing a small fortune.” (Source 1 “The New Tycoons- John D. Rockefeller”) Generally, when there are many consumers buying from one company, then that establishment has had people within it using wise business tactics. For the Standard Oil Company, that person was John D. Rockefeller. “He shipped so many goods that railroad companies drooled over the prospect of getting his business.” (Source 1 “The New Tycoons- John D. Rockefeller) The want for Rockefeller’s products was only increased by the growth of the good’s shipping rates. Of course, Rockefeller was conscious of this and found a way to use this edge to its full potential. Only an intellectual being would be able to have as large of a command for their products as Rockefeller.
The main reason for siding with Hanauer is that he is thinking about how many people can get an upper hand with a wage increase. His viewpoint is the minority of those in his status as a highly successful businessman, as when businessmen are questioned about raising the minimum wage, they mostly argue for the opposition. Their arguments usually state how their businesses will suffer; such as the fact they will be losing money due to the increase they’re being forced to pay workers. This most likely won’t be the case because money is forever changing hands and giving more money to minimum
They also feel unions are crippling our economy and forcing jobs overseas. Collective bargaining also makes it difficult to terminate employees for subordinate behavior. Not to mention, union strikes impact the communities they serve and jeopardize the economy. These are all troubling fact about unions however, without them employees face unfair treatment, lower wages and employment at will termination. Consequently, employers will gain the upper hand!
Unfortunately, the productivity growth only leaves a bigger pay gap. The factory workers are still low paying jobs. According to Davidson, their paychecks should grow as productivity grows, but of course the companies are going to be greedy with their money and take the extra cash for themselves. These low paying jobs will never change and that is why a higher education is important in order to get a well paying job. This cycle is hard to break and many do not.