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9-27-10
| Question | Answer |
|---|---|
| Bessemer Process. | infective way to remove impurities from steel. |
| Andrew Carnegie | He brought bessemer process to the US from England |
| Vertical Integration | When one company owns all the parts of a process (US Steel- Carnegie) |
| Horizontal Integration | When one company owns all of the producers of a product (Standard Oil- Rockefeller) |
| Holding Companies | Companies that bought majorities in many competing companies (JP Morgan) |
| Interlocking Directorates | the same board of directors is in control of various companies |
| Sherman Antitrust Act | Passed in 1890, outlawed trusts, monopolies |
| John D. Rockefeller | Liquid Assets - Black gold |
| Andrew Carnegie | Cold, Hard Cash – owns steel |
| Cornelius Vanderbilt | Railroading |
| J.P. Morgan | Backstage Baron |
| Social Darwinism | idea that the best company would survive the thrive |
| Gospel of Wealth | the riches responsibility to give money to charity's |