Sonny An

US History Honors December 11th, 2012

Chapter 11, Sections 3 & 4 Textbook Notes Section 3: Prosperity & American Business 1925: Bruce Bartons The Man Nobody Knows, glorifies big business and Jesus. 1921: Edward Earl Purintons article idolizing big business. 1929: Walter Chrysler, Time magazines Man of the Year. Industrial productivity: Amount of goods each hour of labor produced. o 1922 to 1928: Rose 70%, good for corporate investors and ordinary workers. Henry Ford: 1913 to 1914: Introduces assembly/production lines for automobile construction. May 1st, 1931: Empire State Building at 102 stories, tallest building in the world. Capital: Accumulation of money. Corporations: Businesses owned by multiple stockholders, whose personal rights and responsibilities are legally separate from the organizations. Federal Trade Commission to protect small businesses against takeovers by corporations. o William E. Humphrey: Appointed to FTC chairman by President Coolidge, however, encouraged instead of prosecuting big business. Oligopoly: A situation where a few major producers influence an entire industry. o By 1929: 1% of the banks controlled more than 46% of the countrys banking resources. Growing complexity in business management (both small and large). o 1924: Harvard Graduate School of Business Administration, supported by president of First National Bank of New York. The American Plan to discourage unions, the punishment. o o o o Hired spies to blacklist laborers. Yellow-dog contracts: Condition of employment, agreeing not to become a member of a union or to organize fellow employees. 1915: Supreme Court upholds yellow-dog contracts. 1921: Supreme Court declares union boycott illegal and drastically limits workers rights to picket. Welfare capitalism: Programs employers adopted in order to convince workers they did not need unions. o Elbert Gary, head of U.S. Steel: It pays to treat men in that way. 1|Page

Sonny An
US History Honors December 11th, 2012 o

Industrial democracy: Workers elect representatives to speak to management. However, known as Kiss Me Clubs, as they gave workers little to no power.

Rotary Club: He profits most who serves best. The businessman was no longer a profit-maker or even a bread-winner, he was a public servant.

Section 4: The Changing Nature of Work Industrialists: People who dealt with the commercial production and sale of goods and services, to act on the realization that each worker is also a consumer. 1914: Henry Ford doubles wages of his workers in Highland Park, Michigan. o o o 1926: Ford reduces workweek from 48-hour, 6-day 40-hour, 5-day week. All that he needs is the desire to work. Ford Ford whisper and Fordization of the face: Lacking in expression, in speech and features. Frederick Taylor: Hard work = the real monotonous grind which trains character. o o work. o o o o o 1920 to 1930: 36% increase in white-collar workers (10.5 million 14.3 million). Compare to autoworkers making $2,000 annually. By 1925: U.S. corporations spend > than $1 billion on advertising. E. Remington and Sons: Sold first typewriting machines in 1874, primarily women typewriters as males dominated executive positions. Sinclair Lewis The Job, concerning women workers and their lack of opportunity. By 1920s: Women in clerical, unskilled occupations with little chance for advancement vs. men in managerial positions, etc. 1929: Sales and advertising, white-collar professions, $5,000 to $30,000 a year. Scientific management: Analysis of effective methods to increase productivity, offered cash incentives to workers who produced more than standard. 1911: The Principles of Scientific Management, adopted by auto industry. White-collar workers: Person who performs professional, managerial, or administrative

Robot: Machine that acts like a person or a person who acts like a machine.

By 1930: 44% of employed women worked at white-collar jobs.

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