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Chapter 16: Capital and Labor

Essential Questions:

Locate and restate the main argument of this chapter.
List a few of the different methods labor organizers and strikers used to improve conditions for workers. Which methods do you believe were most effective? Use evidence from the text to support your assertion.
How did labor struggles by farmers and other laborers look different on a national versus local level? Use evidence from the text to support your assertions.
The role of inequality was argued by both capitalists and laborers. Generally, how did their interpretations differ, and on what information did they base their arguments? Use evidence from the text to support your claims.
What was the primary means Populists hoped to reform the political economy in favor of workers, and how did they propose this would work?
According to the text, what is the main reason for the Populist Party’s failure?
What are key differences in the structure and function of the U.S. Socialist Party compared to the Populist Party?

Vocabulary IDs:

1887 Railroad Strike
Capital/Capitalism/Capitalist
Corporation
Economy of Scale
Taylorism
Industrializing
Protective Tariffs
Knights of Labor
Haymarket Square Riot
American Federation of Labor
Populism
William Jennings Bryan
Socialism
Eugene Victor Debs

Chapter Notes:

Introduction
The 1877 Railroad Strike marks a moment when the deprivations of working-class laborers met the anxieties of the Capitalist class. State militias were called out to quell the strike, and it resulted in $40 million in damages and 100 people dead.
The March of Capital
As industrialization gained speed, so too did the exploitation of laborers. They felt their diminishing ability to survive in a regime of exploitative labor practices and expansion of corporate power.
The standardization of parts in The Civil War and the development of Taylorism (followed by Fordism) that divided production into repetitive, unskilled labor, both contributed to the reduced power of artisan and non-artisan laborers. Economy of scale manufacturing requires large capital investment, vertical integration, and favors an authoritarian leadership structure. Legal and financial structures allowed for corporations to expand by expanding the investor pool and reducing liability in a volatile and competitive market. Competition was quite dangerous to corporations; massive mergers at the turn of the century underline these fears.
Rise of Inequality
Demonstrates capitalists’ increasing grip on a staggering proportion of wealth in the U.S. economy (10% control 90% of all U.S. wealthy by 1900).
The Labor Movement
Conditions for workers are unsafe, they work long hours, their children are forced to earn money for the family’s survival, and housing conditions are deplorable.
The Populist Movement
Farmers band together on a national scale (Farmer’s Alliance has 1.5 million members) and also uses local cooperatives to gain pricing concessions. Some Democrats defect to the Populist Party because of its support for working farmers; however, many more support a pro-business regime and engage in widespread election fraud. Generally, the Populist Party embraces government as the engine of economic protections against big business, coining silver (see W.J. Bryan) vs. gold standard. Also see multiple areas where non-Populist Democrats take advantage of racial tensions and contribute to division within the Populist Party.
William Jennings Bryan and the Politics of Gold
Strongly influential despite his losses for Presidency at the polls; argues for removal of gold standard and adopting silver; inflation to increase, which will help indebted farmers. Loses to McKinley, who is strongly backed by business and gold standard supporters.
The Socialists
Major point here is the larger inclusivity of the Socialist Party (though one would want to look at this a little closer). Much on Eugene Debs, but be sure to pull more about his work and campaign.
Conclusion
See here for recap of major argument.