Laissez-Faire

-idea that the government will stayout of the interests of people andbusinesses-

Monopoly

-business which controls the supplyof a particular product

Merger / Trusts

-Merger-two or more companies jointo form one

-Trust- several business act as ifone

Regulation

-public call to regulate monopolies

-Sherman Act, 1890

-Clayton Act, 1914

Public Utilities

-some monopolies are allowed

-their prices are regulated bygovernment

Conglomerates

-business that supplies a largevariety of products

-may become too powerful

Deregulation

-Idea that the government shouldreduce the amount of governmentregulation

Cooperation

-Government also tries to helpbusiness interests

Worker’s Conditions

-Working Conditions

Labor Unions

-Labor Unions are groups of workers

-Goal of Unions??

Collective Bargaining

-Collective Bargaining

-the ability of a group of workersto bargain together as a group

-Advantages-

Labor Union Methods

-Collective Bargaining

-Strikes

-Picketing

-Sit-downs

-Slowdowns

Employer Methods

-Court Injunctions

-Blacklists

-Lockouts

NLRB

-National Labor Relations Board

-Made Union activity a right

-Government acts as mediatorbetween unions and employers

Union Limitations

Union Practices Banned

-Closed Shop—job where only unionmembers are allowed to work

-Featherbedding—practice ofkeeping too many workers

Today’s Labor Unions

-Unions are weaker than in the past

-Taft-Hartley Act, 1947

-Right to Work Laws

Open Shop

Negotiations

-Mediation— 3rd party negotiationwhere both parties are under noobligation

-Arbitration— negotiations whereboth sides are to bound to the 3rd

party decision