Economic Shift

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by TCa931059
Last updated 5 years ago

Discipline:
Social Studies
Subject:
American History
Grade:
10

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Economic Shift

○○○ Pure Food ' Drug Act.○○○ Meat Inspection Act.○○○ Hepburn Act (ICC).○○○ The Sherman Antitrust Act, ''trustbusting'' - no more monopolies.

Adam Smith who made the Economic Shift (Father of Economics).

Pure Food

The Economic Shift from unrestrained capitalism to mix market. This shift is important because the Capitalism had some disadvantages, that wasn't well for poor people and workers. They changed to mix market which is better for them.

Economic Shift

Some disadvantages of Capitalism:→ Creates monopolies - no competition (raises prices)→ Rich people have power (= $)→ Workers have to work long hours ' low pay, factories were dangerous, dirty, children worked (exploit workers), ....

Capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.

In 1800s, an economic environment is Capitalism.

In 1900s, an economic environment is Mix Market

Does Capitalism exploit workers?


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