Compare and Contrast the National Labor Union, Knights of Labor

question 27

Essay

Compare and contrast the National Labor Union, Knights of Labor, and American Federation of Labor in regard to their origins, goals, organizing strategies, and leadership. Account for the failure of the first two and for the success of the AFL. What might have made a difference in making the Knights of Labor a successful labor union in the long-term?

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Definitions:

Historical Cost

The original purchase cost of an asset, as recorded in the financial statements, without adjustment for inflation or market changes.

Original Cost

The purchase price of an asset or investment, including all expenses incurred to get the asset ready for its intended use.

Balance Sheet

A financial statement that summarizes a company’s assets, liabilities, and shareholders' equity at a specific point in time.

Pay Period

The interval of time for which employee wages are calculated and paid, such as weekly, biweekly, monthly.