Hi

• 1. Turn to page 9 and read the outline.• 2. Complete the Guided Reading on the next page

and answer the two questions. Do NOT do the Challenge Activity.

• “Pretty Girl Rock”– Kerri Hilson

What we’ve learned so far (you don’t have to write this down)

• The 2nd IR was a time period of rapid change in a short amount of time

• Big Business refers to the large number of corporations that dominated the 2nd IR

• A corporation sells stock to the public and corporate stocks, bonds, dividends, and 401ks are all relevant to us today as they comprise our retirement funds

• Men like Andrew Carnegie and John Rockefeller made hundreds of millions (or even billions) of dollars in America at the time with Big Business.

• Was Big Business a good thing? Or a bad thing?

Charles Darwin• Evolution & theory of

natural selection• Slow lion can’t catch

gazelle…will die before reproducing as many times as the fast lion and will get less food than the faster lions

• When slow lion dies, so too does its genes for slower running…

• Faster lions reproduce, passing along their “better” genes, and this is how evolution works in the wild.

Learning Goal 4

• I will be able to:– Define Social Darwinism, Philanthropy, Monopoly,

and Sherman Antitrust Act– List and explain the two reasons some supported

Big Business and their practices– List and explain two reasons some opposed Big

Business and their practices

Big Business

Why supported by some

Why opposed by others

New Laws

• Large # of corps. that dominated the 2nd IR

• Social Darwinism – rich are rich b/c more fit to survive; that’s just the way it is; don’t hate!

• Philanthropy – donating a lot of $$ b/c many rich thought it was their duty; w/o BB, no large donations Gates & Carnegie

• Accused of making fortunes through unfair practices like selling below market price, hurting small businesses (vertical & horizontal integration)

• Forming monopolies (total ownership over a product/service) raises prices and lowers wages

• Sherman Antitrust Act of 1890 & Clayton Antitrust Act of 1914 – designed to restrict trusts & monopolies but difficult to enforce

Social Darwinism

Now…

• 1. Why was I playing “Pretty Girl Rock?” Talk it over with the people sitting close to you; I’ll call on someone at random.

• 2. Organizer on page 10.• 3. Wal Mart Paragraph– Is Wal Mart good or bad for America? Pick a side

and defend it.

WHAT IS BUYING OUT YOUR COMPETITION CALLED?

WHEN THAT HAPPENS, WHAT FORCE DOES IT PUT ON PRICES? ON WAGES?