What is a Trust? (Teachable Moments - AP US History Review)
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- čas přidán 2. 10. 2015
- While I was running a parking lot before a football game, I found myself in the midst of a teachable moment! All of the people running the parking lots on our street had agreed to a set price and had agreed on a system of sharing incoming traffic rather than competing with each other. We had formed a trust!
In the late 19th century, American corporations formed combinations known as trusts in order to reduce competition and regulate production and prices. Trusts became very unpopular during the Gilded Age because they were not seen as being helpful to the consumer or to the market. In 1890, Congress passed the Sherman Antitrust Act, a weak piece of legislation that was strengthened by the Clayton Antitrust Act in 1914.
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I learned more about “trusts” watching this 2 minute video than reading 3 pages of it
I knew I could trust your trust analogy.
I see what you did there!
This was so simple to understand compared to all the other resources I've been using. Great Job!
Thank you for making this so much easier to understand ur the goat Tom
great teachable moment! i use it every year now with my middle school class. thanks!!!
Very Helpful! Thank You!
Totally knew I could rely on a Tom Richey video to help me out!
Great analogy and teachable moment.
love your vids
This is so much better of an explanation than my history teacher gave, thank you so much for these videos
OMG THANK YOU!! Mr.Richey, we may need some more videos from period 6 :(
Great Job!
thankyou i was so confused from online
Nice video :D.
Thanks!
You got me dizzy with all the camera moving! ;o)
Haha I guess that's an added bonus with this sort of video?
Hey tom! I just wanted to say that I only just recently found your channel and I'm loving it! I love history and love reading non-fiction history books and it's really a joy to listen to you talk about the same topic as you do an incredible job showing the big picture in a lot in the events and concepts you cover and add a great personality to it! Not to mention a great perspective on areas that have a large amount of grey area. Though it's the best to listen to topics I know nothing about (which is a lot of topics) as you provide a very learned perspective that provides more then just information but intelligent analysis. This little video really embodies the reason I keep finding myself watching your video more than I probably should, you clearly show you have a strong passion about the things you talk about and that's why its of fun and fulfilling to watch your videos. This maybe a kinda weird comment but I just wanted to say that I really enjoy and appreciate your content!
Thank you for the kind words! I'm still amazed every time I hear that someone has found some intellectual fulfillment because of my videos. I'm blessed to be able to teach the world. A pleasure to share my passion for history with you!
What kind of lion is that in your profile pic? Looks a lot like the lions I saw in Belgium and the Netherlands over the summer.
+Tom Richey the lion is Bohemian! I have a lot of Czech heritage and so its history and stuff really interests me
Hi so I am a high school student and I've recently started watching your videos, and it has been helping me a lot of ap euro. As of right now, I am learning about absolutism and constitutionalism, and yesterday I watched your video on that. I even copied your chart of absolutism and constitutionalism, but then today this morning my teacher said that that chart was wrong. She just glanced at the chart really quick and said that it was wrong. Im guessing she just wanted me to know the 'exact' meaning of what they each are, but as I'm reading this chapter, I'm finding that it links to what you put. I'm having a mental crisis right now because she is just confusing me even more, when with your educational videos it is actually what is helping me maintain my good grade. So just to be sure, everything you say in your videos are a reliable source, right? (I know it's a dumb question to ask but I need to know if the information that I'm obtaining of is credible)
Of course I'm going to say it's credible (POV)! I think my videos have helped a lot of students on the exam and you have seen this for yourself; but then, if your teacher disputes what you have gotten from me, I would encourage you to yield to your teacher in the classroom. On the exam, it's up to you. Kudos for consulting your text and for having the courage to ask me a question like this!
aye mister we use your assignments out here in Hawaii please make a video on how to understand and write a LEQ please much mahalos
I plan to tackle that topic sometime this semester.
Very interesting video. It is a shame that there has been the same impetus on the part of governments to address similar anti-consumer practises in the pharmaceutical industry.
"hasn't been the same impetus" sorry
Yes, it seems that government is often eager to act where we need it least and hesitant to act where we need it most!
+MintApplez Irony, the govt HAS acted in the case of Big Pharma - representing the industry as well as any bought and paid for set of representatives can...
It should be mentioned, however, that trusts have a fundamental weakness. In a system in which all competitive prices can be seen, which your system did not have, a trust is weak. One business could undersell the entire trust, and more people will go to it, seeing as it is the same product, for a lower cost. This means they are selling their item for less, but more people buy it, making more money in the long run. Good video as always :). And, a question for you. Do you think a professional book for study review is needed to pass the A.P.U.S.H test? Or is it passable by just using school resources?
I have always been a fan of the AMSCO review text. Thanks for the kind words!
+Tom Richey Thanks for the quick reply! Have a good night, and I'll check that out!
Now large corporations circumvent the legislatures (laws) by Globalism "free trade" agreements, such as the TTP which is an agreement that is not brought before the voters. "Free trade" agreements are literally undemocratic as the "Trust" agreements were.
Ah, I see you're a fellow South Carolinian!
All cartels end eventually, it's just a matter of time. In the short term though, they do indeed work. It's just the greed of the people entering into such arrangements that leads to them double-crossing their partners when the chance arises.
That is some interesting analysis... Eventually, our competitive natures will destroy any artificial arrangement that parties make.
Let me know when Exxon and Mobil are sent into bankruptcy because of a new, more efficient and competitive upstart. That won't happen until the oil runs out.
noter dayme
Why is a Trust bad for the consumer?
+Obito Sigma In most cases, it results in the businesses that make up the trust getting together to set prices higher than what the market would bear without the trust. This is not what happens in all cases but certainly in most!
This sounds more like U.C.C, Uniform Commercial Code, than an Trust, ISLAM!!!
a trust sounds a lot like communism
I suppose both of them interfere with individuals' ability to participate in a free and open marketplace.
+Tom Richey right. a trust all of the lots make the same money. communism everyone makes the same money
+Jacob99 Actually they are closer to opposites... as in theory - as all Communism Is theory - the parking lot owners and those parking their cars are one and the same, and costs would be covered and a small profit earned. In a trust it is very much an 'us-them' relationship, where the owners attempt to maximize their profit at the expense of those parking their cars - where those parking must pay a significantly higher price than would otherwise be incurred in a free competitive market.
...great videos!