Posted by 4Danielle on October 14, 2009 at 11:17am
Business and Labor.Chapter 6-3Andrew Carnigie;Became the first person to make a fortune buying stock.also creasted the carnegie steel company in 1899.He created a system which allowed him to keep track of costs, wasn't rich when he was growing up, threw hard work, skill and that stuff he became the second richest person in the world.When he sold his business in 1901 he was the biggest steel producer in the USsold out about a billion dollors in the steel business.first billion dollar company.Sherman Anti trust act.started in 1890it made it illegal to form a trust that interfered with trade with countries or states.-monopoly.-trust--anti trust- -trying to stop monopolies from happining.Social Darwismgrew out of Charles Darwins theory of biologican evolutionHerbert Spencer and English philosopher used Darwins theory to explain the evolution of human society.The standard oil company of ohioStarted by John D rockefellerIn 1890 the company produced eighty nine percent of the nations crude oil.He achieved this by making oil cheaplyhe established Rockefeller Foundation which eventually along with the university of chicago found a cure for yellow fever.rich companies.they were called captain industry. and robert berrinsLaborsteel mills employed the most peoplepeople who worked at the steel mills often worked seven days a weekPeople as young as five years old had jobs,Strikes,in 1877 the workers of the baltimore and ohio railroads started a strike because of a second wage cut in two months.freight was stopped for more than a week.labor unions,
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