UGBA 172 REVIEW PRACTICE EXAM QUESTIONS 2024.Stages in Historiography (historical analysis) of anti-trust - correct answer (Lecture? + Kolko, McCraw readings) Not only was there a backlash against the bigness of "Big Business", but BB continue to grow in scale regardless.
1890 - SHERMAN ANTI-TR...
UGBA 172 Final Exam
Stages in Historiography (historical analysis) of anti-trust - correct answer (Lecture? + Kolko, McCraw
readings) Not only was there a backlash against the bigness of "Big Business", but BB continue to grow in
scale regardless.
1890 - SHERMAN ANTI-TRUST
ACT
1888 NJ law allowed corp
mergers
1914 CLAYTON ACT, FEDERAL TRADE COMMISSION ACT
Classic Progressive view: Teddy Roosevelt as Trust-Buster, lead popular interests against business
interests, food regulation, conservation...
1950s: R. Hofstadter began emphasizing some of the shortcomings of the Progressive Era. While middle-
class citizens supported progressivism, support from the working class was less visible. Also, he made
connections between populism & later Nazism and McCarthyism as potentially dangerous majority-
tyranny movements. He theorized that middle-class support for Progressive regulation was not so much
goodwill towards the working class, but to control the backlash against Big Business; it was anti-modern,
whatever that means.
1960s-70s: G.Kolko: TR distinguished, rather arbitrarily, betwee
Rule of Reason - correct answer (Lecture) 1911 Standard Oil case was a significant application of Rule of
Reason; that is, not targeting structural monopoly but whether the firm in question was clearly
unreasonably, abusively restricting free trade. (The doctrine, therefore, justified not breaking up
structural monopolies.)
,1917 FTC investigation of the
meatpacking industry - correct answer 1917-18 Meatpacking industry. Big 5 firms, high barriers of entry,
economies of scale, vertically integrated. However, the FTC found no evidence of price-setting at
monopoly levels (b/c their product was being sold more cheaply than smaller producers), nor any proof
than they were abusing their power. 1920: the companies agreed to divest some assets, but allowed to
continue operating its large-scale warehouses, refrigerated cars, etc., had to promise not to enter non-
meat food categories.
(While the FTC had more experience and thus conducted more sophisticated analysis than Roosevelt's
Bureau of Corporations, third-party auditors are inevitably dependent on firms' cooperation for research
data.)
Key Elements of Sloan's Strategy for dealing with GM Crisis - correct answer (Sloan reading)
Coordination Challenges at GM 1920 - 2000 - correct answer
Alfred Chandler's "Visible hand" - correct answer (Lecture) According to Chandler, the "visible hand" of
management had replaced the Smithian "invisible hand" of market forces in controlling capitalism.
-The US modern multiunit business replaced small traditional entreprise, when administrative
coordination permitted better profits than the coordination by market mechanism;
-A managerial hierarchy has been created for this multiunit business enterprise;
-Multiunit business entreprise apperead for the first time in history in a time when the volume of
economic activities reached a level that made administrative coordination more efficient than market
coordination;
-Once a managerial hierarchy has been created and had successfully carried out is functions of
administrative coordination, the hierarchy itself became a source of power, permanence and continued
growth;
-The careers of the salaried managers became increasingly professional and technical;
-The multiunit business enterprise grew in size and diversity and as its managers
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