Political Developments: The Beginning of the Rise of Populism Flashcards
(12 cards)
Give an example of a book written in 1873 which attacked the Laissez-faire economic structure and the authors name
Mark Twains “The Gilded Age” written in 1873
What book was written in 1879 opposing laissez-faire economics and who was the author?
Progress and Poverty written by Henry George in 1879
What did Henry George’s book suggest?
The abolition of private land ownership
What was the scale of Henry Georges book? What is the significance of this?
2 million copies were sold showing many people felt the same way
What association was formed in 1885?
American Economic Association (AEA)
What did the AEA promote?
‘Scientific’ economic ideas
Who wrote an article for the AEA and in what year?
Henry Carter-Adams wrote an article for the AEA in 1887
What was the 1887 AEA article about?
The limits of Laissez-Faire
What was the significance of Henry-Carter Adams’ article?
It laid the foundations for the strength of Progressivism, which is what a whole new era of the USA’s development would be called
How many states passed laws to reduce cartel and trust power in 1885?
27 states
What act did Congress pass in 1887 to reduce monopolies power?
Interstate Commerce Act of 1887
What did the 1887 Interstate Commerce Act do?
Regulated railroad networks
