During the time Morgan was manufacturing steel pipe tubing, Carnegie threatened to ruin him by invading his business if Morgan did not buy Carnegie out. E... ... middle of paper ... ... as farmers became more conscious of prices rising to transport their goods, they were forced to find other means of transportation to distribute their goods. Even though these men attempted to build a stable foundation for America to grow on, their negative aspects dramatically outweighed the positive. Even though Andrew Carnegie donated his fortunes to charity, he only acquired the money through unjustifiable actions. As these industrialists continued to monopolize companies through illegal actions, plutocracy- government controlled by the wealthy, took control of the Constitution.
This event shows how corrupt and money hungry the government had become, by letting anyone get high up in the political chain just by feeding the gluttonous king. The next king, Louis XVI saw that the majority of France (75%) was peasants and serfs. Consequently, to try to ensure their happiness (and prevent the Revolution), he had the Estates-General abolish the feudal system, in which they held no ranking.4 This made the nobility extremely unhappy. With no feudal system, they no longer were much higher up politicly than the commoners. The next noble atrocity came with Louis XVI making the nobles pay taxes.
The economic situation was only one of the elements that caused the people to question the monarchy in pre-revolutionary France. France was in great debt and almost bankrupt but this did not stop them from fighting wars. The debt -- an economic problem -- turned into a social one, when the peasants were taxed heavily in order to pay for the debt, this caused them to question greatly their position in society and the effectiveness of their monarchy. Drought and other natural disasters ruined crop production, causing food prices to rise dramatically. With taxes rising and prices too, peasants were living in famine and in poor living conditions.
Farmers everywhere in the United States during the late nineteenth century had valid reasons to complaint against the economy because the farmers were constantly being taken advantage of by the railroad companies and banks. All farmers faced similar problems and for one thing, farmers were starting to become a minority within the American society. In the late nineteenth century, industrialization was in the spotlight creating big businesses and capitals. The success of industrialization put agriculture and farmers on the down low, allowing the corporations to overtake the farmers. Since the government itself; such as the Republican Party was also pro-business during this time, they could have cared less about the farmers.
They now faced numerous new issues that negatively impacted their lives, and they wanted to change that. Agrarian discontent included high taxes, tariffs that increased the cost of manufacturing, a currency shortage, expensive middlemen and decreasing cotton prices . On the political and social side the power and influence held by corporations and businesses grew at an exceptional rate, creating a huge divide between the rich and poor. The lower class saw the gap grow and needed a platform to try to change their situation and the... ... middle of paper ... ...l and economic grievances and changes experienced by the working class in America leading up to the 1890s. Farmers were assimilated into the national economy but the transition was not a smooth one as businesses started controlling the flow of resources and goods and therefore the farmer’s profits.
Farmers felt threatened by monopolization, especially with railroads, because the lack of competition would leave profit driven corporations to raise rates, and put a strangle hold on farmers profits. As the presidential nominee of the Populist Party in the 1892 election, James B. Weaver spoke for the American farmer in his work, A Call to Action: An Interpretation of the Great Uprising [Document F]. His message may have been an accurate portrayal of the farmers woes, however, the fear that the monopolies would raise prices unreasonably never came to fruition. The late 19th century actually saw prices drop, spawning an era of consumerism. Therefore, farmers lost validity because monopolies inflicted little harm to the agrarian lifestyle in the late 19th century.
Improvements in transportation allowed larger competitors to sell more easily and more cheaply, making it harder for American yeoman farmers to sell their crops. Finally, years of drought in the Midwest and the fall of business in the 1890s devastated the farming community. Most notably, the Populist Party arose to fight what farmers saw as the issues affecting the agricultural community. During the last thirty years of the nineteenth century, many farmers in the United States saw railroads and banking enterprises threaten their way of life; their work to fight these elements eventually led to a change in national politics. The growth of the railroad was one of the most significant components in economic growth.
Monopolies formed all over the country in steel, oil, and railroad companies. These big businesses made it very difficult for other businesses to prosper in the same field. Document F clearly illustrates the direct effects of the monopolies: "They are monopolies organized to destroy competition and restrain trade. Once they secure control of a given line of business, they are master of the situation and can dictate to the two great classes with which they dealthe producer of the raw material and the consumer of the finished product. They limit the price of the ra material so as to impoverish the producer".
The rich then obtained their land, converted them into cash crop farms, and had them work in it. This destroyed the family farms that supported Rome before, and made the rich more powerful. To help the peasant farmers, Tiberius Gracchus tried to enact land reform. This was not popular with the richer Romans, so it got vetoed twice. He then got support from his followers to have an opposing tribune removed, which violated the constitution.
This documentary “Masters of Money” mainly emphasizes on Karl Marx’s theory which was on capitalism. He stated that capitalism would lead to a global economic crisis. He believed that the society was divided into two classes: the owner class and the worker class. The owner class , in order to ensure that higher levels of profit is made , exploits the worker class since an industrial reserve army of unemployed is present. However, the business gets itself into trouble because the workers who are paid badly are unable to spend on the consumer products which gradually force the business to cease trade and thus causing a crisis.