The search for new marketplaces the era was one of

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Unformatted text preview: e gov’t coordinates and regulates the economy. Big business can stay, but let’s protect people through commissions of experts that will serve the interests of consumers. Wilson [New Freedom] Let’s get rid of concentrated economic power altogether and make the marketplace open for competition. We won’t go back to laissez-faire, though; we’ll keep regulating it. But, no cooperation between business and gov’t. Based on Louis Brandeis. - Actually, though, the philosophies were very similar: both supported equality of opportunity, conservation, fair wages, social improvement for all, and a strong involved gov’t. - So how was Wilson as President? Issues he dealt with included… Anti-Trust Con’t – Well, given that mergers had proceeded so far, he ended up settling w/expanding gov’t regulation w/the Clayton AntiTrust Act (1914), which outlawed monopolistic 170 practices, and a bill creating the Federal Trade Commission (1914), which could investigate companies and order them to stop unfair trade tactics. Banking Regulation – The Federal Reserve Act (1913) established another nat’l bank and district banks [regulated by the Federal Reserve Board] that would lend $ to member banks at rates that could be adjusted to increase/decrease the $ in circulation – loosen/tighten credit. Right before the war he also passed the Federal Farm Loan Act, which allowed $ to be lent at moderate interest to farmers. Tariffs – The Underwood Tariff (1913) encouraged imports [to help consumers] and instituted a graduated income tax on residents. Labor – The Adamson Act mandated an eighthour-workday and overtime pay for RRD workers; Wilson also regulated child labor and provided workers’ compensation. - Then there was the Presidential Election of 1916, in which Wilson ran w/his “He Kept Us Out of War” deal against Republican Charles Hughes and won. In his second term, regulation increased even more due to the war – the War Industries Board, for example. But after the war, regulation fell again. That’s all. OH MY GOSH, I’M REALLY TIRED NOW! How about you? Are you having fun or what? American...
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This note was uploaded on 04/02/2014 for the course APUSH AP United taught by Professor Orban during the Fall '10 term at Harrison High School, Harrison.

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