Unit 1: Industrialization, Immigration & The Progressive Movement

3. 
   Questioning the Methods of Big Business
   
   1. 
      Why supported by some
      
      1. 
         Social Darwinism – based on Charles’ Darwin’s theory of natural selection; the rich are rich because they are more fit to survive
         
      2. 
         Philanthropy – donating large sums of money b/c some like Carnegie viewed it as their duty to help the poor (Bill Gates today)
         
   2. 
      Why Big Business was criticized by the Antitrust movement
      
      1. 
         Business leaders criticized for making fortunes through unfair practices
         
         1. 
            Drove smaller businesses out by selling below market price
            
         2. 
            Got favorable business deals
            
      2. 
         Monopoly – total ownership of a product or service, which is the goal of most trusts
         
   3. 
      New Laws: Sherman Antitrust Act & Clayton Antitrust Act of 1914
      
      1. 
         Made it illegal to create monopolies or trusts that restrained trade
         
      2. 
         Did not clearly define trust and was difficult to enforce
         

-2. Philanthropy B. natural selection in society and b/c the rich donate a lot of money

-3. Monopoly C. drive smaller companies out of business and get favorable deals

-4. Sherman Anti-Trust Act D. donating large sums of money

-5. Why some supported BB E. application of survival of the fittest to society

-6. Why others opposed BB F. made monopolies illegal