lecture16_312_Government1_SP11_overheads

lecture16_312_Government1_SP11_overheads - Lecture #16...

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Lecture #16 March 28, 2011 Towards active government Please note that there is a revised syllabus posted on the class website, with a slightly different set of readings (and dates) than the first version of the syllabus. We will pass back the mid-term on Wednesday.
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In the first half of the semester we looked closely at developments in the post-bellum American economy. Demography Agriculture Transportation Manufacturing Banking and Finance We talked about the growing integration of the national economy, the rising size of firms, and calls for more national government intervention. Over the next three weeks we will look more closely at the rise of government regulation of the economy. This history is dominated by the actions of the national government to regulate: 1) Railroads - Interstate Commerce Act 2) Trusts and large firms in general - Sherman Anti-Trust Act - Pure Food and Drug Act 3) Banks and the banking System – the Federal Reserve System - Federal Reserve Act We will look at each one of these over the next couple of weeks, in some detail, but. ....
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Although the national history is very much the dominant history of the late 19 th century, it isn’t clear that it is the right history. It certainly isn’t the whole history. The national story is one of increasing regulation. This is the story of the farm protest movements: the populists, the Granger Movement, and ultimately the Progressive movement that led to a change in government attitudes toward the economy. On the other hand, there were serious changes at the state and local level that were making large businesses increasingly viable. Today I will talk about the article by Grandy “New Jersey Corporate Chartermongering, 1875-1929.” On Wednesday I will talk about Lamoreaux “The Great Merger Movement” The Grandy paper is about a change in the way that corporations can be formed, and a change in the things that corporations can do. This is a part of economic history that is often overlooked, but shouldn’t be. To understand what happened in New Jersey, we need some history.
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Corporations are “legal persons” That means, that corporations enjoy certain rights that apply to individual citizens: the right to sue and be sued the right to own property the right to enter into contracts Corporations are legal persons in the sense that it is the corporation that possesses this right, not the individuals who
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This note was uploaded on 10/25/2011 for the course ECON 312 taught by Professor Johnwallis during the Spring '11 term at Maryland.

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lecture16_312_Government1_SP11_overheads - Lecture #16...

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