06 May DESCRIBE HOW CORNELIUS VANDERBILT WAS ABLE TO OUT-COMPETE FULTON AND COLLINS.
Identify and describe four successful market entrepreneurs who became successful in large part by focusing on cost-cutting and increasing efficiency.
2. Distinguish market entrepreneurs and political entrepreneurs and give at least two examples of each.
3. Describe how Cornelius Vanderbilt was able to out-compete Fulton and Collins.
4. Explain how James Hill outperformed the Union Pacific, Central Pacific, and Santa Fe railroads.
5. Explain how Charles Schwab and Andrew Carnegie outperformed competitors and why these methods not successful at U.S. Steel.
6. Explain why Andrew Mellon’s attempts to cut taxes were opposed so strongly as U.S. Treasury Secretary.
7. Explain why so many U.S. congressmen and women exhibit anti-business attitudes.
From FDR’s Folly, Part 1:
1. Discuss the following statement: “The New Deal was not a program for recovery; it was a program for reform.
2. Powell gives many examples of anti-big business attitudes among FDR’s “brain trust;” list three examples.
3. Give three examples of how the New Deal was designed to replace individualism with collectivism.
4. List three causes of the Great Depression according to Powell, including monetary actions by the Federal Reserve Bank of New York in 1927-1929.
5. Explained what caused bank failures during 1929-1933.
6. Explain why the money supply contracted by one-third from 1929-1933.
7. Discuss why most historians attribute the causes of the Great Depression to speculators, Wall Street, business people, and rich people.
8. Explain why The Banking Act of 1934 (Glass-Steagall Act) was enacted, and describe the effects.
9. Explain why FDR took the United States off the gold standard, and describe the effects.
10. Explain why FDR raised taxes.
11. Describe the purpose, scope, and effects of the National Industrial Recovery Act.
12. Explain how price-fixing of agricultural products was accomplished.
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