In: Economics
a) The practice of slave trade in the world was a curse on humanity. It was abolished and became iilegal since January,1808 in U.S. and later on in other countries too.
Initially the usage of enslaved laboureres allowed US economy to lead the whole world in the long-run. Thousands of slaves including men, women,and even children were pushed and transported to the territories where industrial expansion took place. There were auctions organized to sell and bid the enslaved populace. They were kept under adverse conditions in forced labour camps without any fixed wage or generally followed no wage systems. This practice of big industrialists brought out a boom in the manufacturing and infrastructural sectors in US, as the cost of production was less at high production limit and were extracting revenue from the labour of enslaved people.
The revolutionary act was brought about by a number of reformers and activists who thought that the practice of selling human being is not good for the society. The practice of bringing people from poor countries and selling them to the rich and affluent one, was not only dreadful and horrific but also bestowed many atrocities and cruelty on them. Many used to die on the way because of long ship voyages and the others who reached alive were treated as animals and made to work for long hours.
b) The derogatory term Robber Baron, was used for a group of rich and influential industrialists who gained fortunes and extracted huge revenue through several malpractices. They engaged in unethical business practices by creating a monopolistic industrial environment. They generally used slaved labourers to carry out their production and manufacturing process' and in return gave no money or wages for their labour. They also gave no heed to their customer's choices and preferences or any other prevalent competition or competitors. They just exploited the resources like land, labour capital etc, by formation of big trusts to support their evil style of business.
They usually were cruel and had little empathy for its workers. Also they used unethical and mean methods to eliminate their competitors from the market and attain monopoly. They were really evil in terms of democracy, economic stability and distribution of wealth.
They tried to hide all their ugly business behaviours under the cover of national prosperity they brought. Undoubtedly, they helped US in becoming the most wealthiest nation in the world. While, the real workforce who worked hard to bring the economy on higher ups was made to suffer, tortured and harmed.
c) The Scientific Management Theory of F W Taylor, was basically used in increasing and improving the production efficiency. Its main objective was to lower the cost of production, increase the overall revenues and profits and pay more wages to more efficient and productive labour force.
He believed in skilling and training of the workforce in a more scientific manner.
According to him the work of management and labour should be divided under different hierarchies to perform well.
He concentrated more on production and productivity based wages given to workers.
He used the time and motion study and other relevant techniques to measure the productivity level of a worker.
Also, he supported ethical practices through his scientific management approach in the well-being and interest of workers.
d) The trade unions refused to implement the Scientific Management Theory of F W Taylor beacause it created a subdivision of workforce into skilled and unskilled workers. According to the theory the skilled and trained workers will be paid more in comparison with unskilled and untrained one's. Most of the lower grade workers were unaware of the modern techniques of production and machinery but they worked equally hard and gave all their time and energy at their workplace. They were ignorant to this theory as they disliked the concept of biasness in wages and income distribution.
The unions claimed the theory as unjust and a havoc for their career and growth. It was said that the theory will bring more unemployment and income inequality among the worker class as only the skilled workers will be hired and paid more.