Question

JP Morgan's Position on labor unions and big business on what is best to create a “good society”

Answer 1

JP Morgan's Position on labor unions and big business on what is best to create a “good society”

Answer 2

@Shadow

Answer 3

Do you know what the key terms mean?
"labor unions"
"big business"
and
"good society"
-The last one is a bit more ambiguous due to it's subjectivity.

Answer 4

Not really, but good society is kind of JP Morgan's thoughts of what would make America the most successful?

Answer 5

Did you get an assigned reading or PDF to go through in order to answer this Q or is it a FFA (Free For All)

Answer 6

No pdf, or reading.

Answer 7

Problem with Google is that it's a search engine for the Internet, so we may come across differing opinions on that these terms, especially the last. Though I don't expect it to be much of an issue.

Answer 8

That's all right. This is the original prompt though, idk what to do with it

Answer 9

During the later half of the 19th century labor unions and big business owners were at odds to the point that violence was usually the answer that both side resorted to. Take the role of one of the following characters and prepare to debate the nature of “the good society” in the industrial age. Debate should focus on the merits/drawbacks of industrialism in America in the 19th century and the role of laissez faire and/or socialism in its development.

Use the strikes at Pullman, Homestead and the Great Strike of 1877 as the basis of your discussion. Try to convince the President to take action that would benefit your supporters/point of view.

Answer 10

Idk what it's even asking lmaoo

Answer 11

Interesting

Answer 12

Side with the workers who are being 'disenfranchised' or the 'greedy' employers who are suffering from their workers greed.

Answer 13

'debate the nature of the good society in the industrial age' ????

Answer 14

Then take on the topic of what the nature of a good society is in the industrial age.

They want you to pull on the positives/negatives of industrialism during the 1800s and the role laissez faire and/or socialism had in its development.

Answer 15

How does industrialization have anything to do with the nature of a good society. What's the nature of a good society

Answer 16

laissez faire is the "abstention by governments from interfering in the workings of the free market."

Essentially, free trade, no regulations, let the businesses do their thing and let the market (consumers) decide.

Answer 17

nature of good society'
the more I look at that phrase the more I get Orangeed why they chose that phrasing
can you reword it for me

Answer 18

https://www.freedomandflourishing.com/2009/10/what-are-characteristics-of-good.html

"In thinking about the characteristics of a good society different people tend to emphasise different things that they consider to be important e.g. egalitarianism, personal freedom, moral values and spirituality."

Elements/aspects/characteristics of a good society

Answer 19

The foundation or makeup of a good society

Answer 20

The stuffs that makes it

Answer 21

okay so they want us to use the pros and cons of industrialization, laissez faire, and socialism to determine what factors could make a society good

Answer 22

egalitarianism -> "the doctrine that all people are equal and deserve equal rights and opportunities."

Sounds socialistic to me, since one of the focal points of socialism is the reallocation of wealth, from the rich (big business) to the disenfranchised (workers, the poor, etc).

Answer 23

Personal freedom -> Let the businesses choose how they pay their employees and how they spend their money/profits from a capitalistic system.

'Moral values" -> by forcing the big businesses to pay their employees more, they are taking freedom away from big business (the elite) to pay employees for their services, how they wish.

Answer 24

\(\color{#0cbb34}{\text{Originally Posted by}}\) @lowkey
okay so they want us to use the pros and cons of industrialization, laissez faire, and socialism to determine what factors could make a society good
\(\color{#0cbb34}{\text{End of Quote}}\)

Answer 25

Yes

Answer 26

bet hold on

Answer 27

@Shadow ok now how can I add JP morgan into this

Answer 28

ok to clarify my slow brain:
use the pros and cons of industrialization, laissez faire, and socialism to determine what factors make a society good

Answer 29

So you are taking the stance of big business?

Answer 30

i think so, because I got JP Morgan and he believed in keeping big businesses alive but also helping small businesses i think idk im high

Answer 31

What do you mean, you 'got' JP Morgan

Answer 32

i have the role of JP morgan

Answer 33

Did the teacher 'give' you JP Morgan?

Answer 34

no, he let us choose. (:

Answer 35

From a list?

Answer 36

yeah

Answer 37

Ah okay. The reason I did this is to understand how you came about to be holding such a position (essentially, defending JP Morgan and his stances).

Answer 38

Well, find the role that JP Morgan played in the 1800s during the Industrial Age, and what influence he had on industrialism. Were the outcomes of his influence good or bad? Both? Did he subscribe to laissez faire or socialism? What happened as a result of him following a capitalistic (individualistic) or socialistic (collectivist) system?

Answer 39

You don't really need to know what the latter terms are. I am more just reaffirming the knowledge I acquired on Monday (economic articles).

Answer 40

alright so from my research, i found out that morgan helped out alot of the financially troubled railroads. he also helped save the nation from disaster like in 1895 when he helped rescue a gold standard or whatever. he had alot of power.

Answer 41

in his definition, his idea of good society was presumably one that had each others back?

Answer 42

1. JP Morgan subscribed to capitalism, self interest for the objectives of profit, provided the backbone for capitalism

"[JP Morgan] provided the financial banking for a transaction that bought carbines from and resold them immediately back to the federal government at a large profit. It was charged that the guns were available cheaply because they were defective, which may not be true, but it's hard to avoid the conclusion that Morgan profiteered. As was customary for men of wealth, Morgan paid for a substitute to serve for him in the Union Army."
-Went for profit
-Self interested to fulfill the aforementioned objective (paid for someone to serve in his place in the Union Army)

He supported industrialism through the railroads and financing of the banks.

2. His idea of what a good society was generally prosperity yet not one that is equally distributed, as a socialist or egalitarian would like

"In addition, the tenor of the times had changed. When the House of Morgan stopped the Panic of 1907, it was criticized for being dominant and interested in itself over the public wellbeing, but although not evenly distributed, the country was enjoying general growth and prosperity."

https://www.u-s-history.com/pages/h1988.html

Answer 43

He had some moral flaws, you could say (selling possibly defective carbines to the federal government and profiting off that) yet he saved the economy of America during harsh times with the abundant power he wielded. He was self interested yet helped others through this in a way that socialism cannot effectively do (no proof of this, Venezuela and other socialist countries going down the drain).

Answer 44

I meant backbone of industrialism by the way

Answer 45

Industrialism is when a society is manufacturing a ton of stuff, and you can't profit off that manufacturing without getting it to where it needs to be sold (railroads).

Answer 46

He kept the wheel going. Again, he profited off that (self interest) but would if he hadn't and those railroad companies went under?

Answer 47

rip goods and industrialism

Answer 48

So what JP Morgan believed was a good society was capitalism, good financing of the railroads and banks, and not so equal people

Answer 49

Well, in order to account for the socialistic (collectivist) perspective you need to look into the strikes mentioned in the prompt.

Answer 50

I assume you need to debate this in class, maybe

Answer 51

how tf are you supposed to use pros and cons of industrialism to prove that JP morgan's beliefs of a good society was that

Answer 52

He believed in capitalism, yes, which brought about profit for him but also jobs and profit for others. It wasn't equal. The employees didn't make as much as the guy who put it ALL together. But that's how it works when you provided the structure to allow for the means to create these profits.

Answer 53

If you subscribe to socialism and demand that the CEO and employer makes the same, as keeping everyone 'equal,' who is going to want to take up the difficult task of being a CEO?

Answer 54

They are a public figure. Things are good, you get brownies points. Things go bad, you get attacked/blamed first. And things always, eventually, at some point, go bad. Again, they are also the brains of the operation, creating relationships and pathways of influence.

The argument is, that socialism is immoral because whilst it demands that everyone be treated and paid equally, it neglects the additional work/difficulty/hours of the more arduous and demanding jobs.

Everything is difficult, but if you think a line worker has the same type and magnitude of difficulty as a CEO, that's asinine and ignorant.

Answer 55

What does this have to do with anything

Answer 56

Workers strike when they want to be paid more.

Answer 57

the question is asking to use the pros and cons of industrialization, laissez faire, and socialism to determine what factors makes a society good.

Answer 58

i don't get why you're adding this random crap in

Answer 59

Yeah, they wanted to be paid more, to be more equal, and to close the unequal divide between what was paid to the elites in the company and the workers, socialism.

Answer 60

Reallocating of the profits more towards the bottom of the totem pole.

Answer 61

who the heck is they

Answer 62

Haven't you heard of progressive tax rates, taking money from the rich and giving it to the poor?

Answer 63

They = workers

Answer 64

how is that answering the question

Answer 65

1. What is the nature of a good society is in the industrial age according to JP Morgan?

2. Put this under the lens of the positives/negatives of industrialism during the 1800s and the role laissez faire and/or socialism had in its development

JP thought that the nature (key element) to a good society was one which comprised individuals who through self interest sought profits for themselves. He believed in capitalism, which accompanied with laissez faire allowed for no government intervention and regulation with companies. This allowed for a free economy, as there were no restrictions on these companies (which there would be under socialism). The clear positives that he brought forth was (1) sustaining the railroads to allow for manufacturers to move their products (2) saving the banks (1907 crisis) (3) general investments as a banker. Some negatives were that (1) possibly selling defective carbines to the federal government (2) capitalism favors those who work hard, but more especially, those who work smart. JP was working hard and smart, general workers just work hard. They may be doing what is best for their family, but capitalism favors and ascribes more value towards those who provided the company and its jobs for those on the bottom. This accounts for workers making less, which can be seen as a negative.