UGBA C172 FINAL EXAM 2023 QUESTIONS AND ANSWERS ALREADY PASSED AND VERIFIED

Harper's Weekly 1881 series on Newton Creek - CORRECT ANSWER * Publishes series of writings that exposed the health and safety conditions surrounding Newtown Creek from oil refineries' pollution * Caught major attention from public and the NY State Board of Health to take steps to fix situation * Symbolized significance and power of media that allowed public to see the fearful situation * Saw the negative impact that big businesses had on residential neighborhoods Munn & Scott Scandal - CORRECT ANSWER * Grain storage business * Printed up invalid receipts for people who stored their grain in the M&S silos. When people came to collect, M&S said receipts were invalid and that they would lose all profits made * Situation led to M&S's inability to take a further loan from banks * M&S formed a cartel, tried to push small opponents, and horizontally integrated and fixed prices * Backlash against the railroads - CORRECT ANSWER * RR industry considered problematic for many * Consumers (Shippers & Passengers) complained about prices, monopoly profiting, and schedules and routes * General public had safety concerns about the trains and stations * RR executives thought it was a ruinous competition because of the high fixed costs and the rate wars on competitive lines Stages in the historiography (historical analysis) of anti-trust - CORRECT ANSWER * (1950s) Revisionism: - Richard Hofstadter emphasized on dark side of populism and progressive reform. Connected Populism to McCarthyism and Nazism, and Progressive Reform to Anxious middle class people with exception of working class - Thought Progressives were scapegoating "the trusts" - Criticized popular image of TR as the trust buster to contain popular backlash against big business * (Late 1960s-1970s) Radical Revisionism: - Gabriel Kolko criticize TR's hypocritical behavior through involvement Bureau of Corporations, friendship with Corporation Tycoons, and having the notion that "good trusts" exist