DSST Business Ethics and Society 2

Taft filed twice the number of anti trust suits as

Info icon This preview shows pages 5–7. Sign up to view the full content.

Taft filed twice the number of Anti-Trust suits as Roosevelt, b) Taft vigorously enforced Anti-Trust Legislation, although Roosevelt was known as the “trustbuster”
Image of page 5

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

c) including one against Standard Oil, whose break up was ordered by the Supreme Court in 1911 under the Sherman Anti-Trust Act in 1911 64) Anti-Trust Legislation – laws in the United States- policies and programs designed to control the growth of monopolies and enhance competition a) Sherman Act - (1890) b) Clayton Anti-Trust Act – (1914) c) Federal Trade Commission Act – (1914) 65) Monopoly – when only one producer of a given product exists in a given market a) A monopoly allows a producer to determine the price of a product, the quantity it will supply b) In Most capitalist societies, the governments enact legislation to forbid monopolies 66) Public Corporation – a corporation whose shares are traded on securities exchange a) Regulated by the SEC, b) Financial statements are available to investors 67) Privately Held Corporation – not publicly traded, usually by individual or a few individuals and their families a) Financial statements are private 68) Securities and Exchange Commission (SEC) – of 1934 - entity who regulates the financial reports and other activities of a public company, a) Created to regulate the securities industry b) Prohibit certain types of conduct in the market such as insider trading c) Regulates brokerage firms, the New York Stock Exchange d) Investigates insider trading 69) Franklin Roosevelt’s’ & New Deal – involved government intervention to try to stimulate the economy, applied many of John Keynes ideas during the Great Depression through his series of government programs know as the New Deal. a) Franklin Roosevelt’s NEW DEAL created many programs to create work such as; a.i) Civilian Conservation Corps (CCC) a.ii) Works Progress Administration (WPA) 70) Interstate Commerce Commission ICC – first regulatory agency created by the federal government a) Responsible for making sure railroads were charging reasonable rates (it had little power and was ignored) b) Was created as a result of the Interstate Commerce Act of 1887 71) Railway Labor Act – 1926 – relied upon collective bargaining to resolve labor disputes and was determined to be constitutional by the Supreme Court a) First comprehensive labor relations law and included that parties enter mediation if unable to settle disputes b) Was developed after a number of amendments to the Transportation Act c) Was drafted by combined efforts of both union representatives and executives of the transportation industry 72) National Labor Relations Act (NLRA) – of 1935 – popularly known as the Wagner Act a) Designed to protect workers’ rights to unionization b) Guarantees the right of employees to organize and c) MOST important aspect – the right for employees to bargain collectively with their employers 73) Government Officials – are exempt from Anti-Trust Laws (biggest group) a) Other groups include: Major League Baseball, Labor Unions, and Insurance Industry 74)
Image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern