Question

In: Economics

Throughout the course so far, we've learned about Reconstruction, the Gilded Age, Growth of factories, Rise...

Throughout the course so far, we've learned about Reconstruction, the Gilded Age, Growth of factories, Rise of Corporations, Industrial Capitalism, Politics/law, and much more. What is Reconstruction? Reconstruction was when the Southern states, which seceded from the union, were brought back as free states. We also talked about Plessy vs. Ferguson, which was a famous case in 1896, that announced that segregation is unconstitional, and separate but equal. Another term that we also learned was Freedom of Contract, which was a process in which individuals and groups form contracts without government restrictions?

*REQUIRE TWO PARAGRAPHS (5-7 sentences each)

Solutions

Expert Solution

ANS: The Reconstruction era was the period after completing of the Civil war from 1865 to 1877 and plays a significant role in the history of American civil rights. As from the era of the reconstruction to the end of the 19th century , the United States to be underwent for an economy transformation as to be marked by maturing of the industrial economy, as there is a rapid expansion and growth in big business, the development of the large scale agriculture, and seems to be rise of national labour unions and such industrial conflicts also.

The Freedom of Contract is a process in which the individuals and group of people can form contracts without any government restrictions. As this contract is formed due to opposed minimum wage laws, economic sanction and completion laws also the price fixing and the on restrictions on contracting with undocumented workers.As in this Freedom of Contract , any individuals possess a freedom of to choose that from whom to contract , where to contract , and on which terms of contract.


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