* HIST364 - Emergence of Modern America: 1900 to 1945 [#taa46d1e]

#contents

** Week1 - Discussion Questions [#g635ab64]

- Question

Following the Discussion Conference Requirements, please answer ONE question below.

1.  Who were the Progressives? Analyze the relationship between their role and the industrialization and explosive growth of cities between 1900 and 1917.

2.  Some observers consider Theodore Roosevelt an anti-business president.  Do you agree?  Why or why not?

3.  What was President Wilson’s vision of the postwar world, and how did he specifically propose to achieve it?
How did European leaders react to Wilson’s ideas? Why did the U.S. Senate refuse to ratify the peace treaty?

- Answer

''2. Some observers consider Theodore Roosevelt an anti-business president.  Do you agree?  Why or why not?''

I don't agree with the idea that Theodore Roosevelt was an anti-business president. Of course, he just didn't put the economy ahead of all else. Actually, he tried to control monopolies by antitrust laws to eliminate domination by a handful of corporations.

In the late 19th century, the American economy was growing rapidly by the Second Industrial Revolution. Thomas Edison's great inventions brought many innovations to the industry. Furthermore, additional new-technology innovations were created during his eight years as a president, For example, Henry Ford started the Ford Motor Company and Wright brothers invented the airplane. Under such circumstance, he felt the need for new regulations to correct sickness or inefficiency of the economy.

After he became a president, he actively proceeded with regulatory reform of rail industry. He filled a lawsuit against the Northern Securities Company, which a giant railroad combination with the aid of J.P. Morgan, with violating the Sherman Antitrust Act. He also enacted Elkins Act of 1903 and Hepburn Act to prevent from hiking unreasonable railroad fare (Miller Center., n.d).

According to Mayer, D. (2010), a monopoly is a good thing when it is a natural monopoly or a technological monopoly. Natural monopoly exists when consumers take advantage of economies of scale by a single producer. Those companies such as electric power companies and railroad companies. Under this form of monopoly, government usually regulates the prices and encourages low-cost production to prevent from price increase. Technological monopoly exists when a company has a patent and trademarks to protect intellectual property. However, a monopoly can harm consumers and competitors when it is a pure monopoly. Under this form of monopoly, monopolies easily control the prices.

Although he adopted many of pro-labor policies, he was not always an enemy of companies. He just aimed truly fair and free economy. Actually, when the Panic of 1907, caused by the downfall of Knickerbocker Trust Company, began, Roosevelt approved of the U.S. Steel's acquisition of the Tennessee Coal & Iron (Frydman et. al., n.d).

Some people consider Roosevelt was a conservationist, but he just tried to prevent from overexploitation of the natural resources to achieve sustainable resource use.

CENTER:References

-- Frydman, C. & Hilt, E. & Zhou, L. Y. (n.d). The Panic of 1907: JP Morgan. Trust Companies, and the Impact of the Financial Crisis, '''The National Bureau of Economic Research, Retrieved January 19,''' 2014 from http://isites.harvard.edu/fs/docs/icb.topic1029951.files/Carola%20Paper.pdf

-- Mayer, D. (2010). '''The Everything Economics Book: From theory to practice, your complete guide to understanding economics today.''' Avon, MA: Adams Media. ISBN 1440506027

-- Miller Center. (n.d). American President: Theodore Roosevelt (1858-1919). Retrieved January 19, 2014 from http://millercenter.org/president/roosevelt/essays/biography/4
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