-Tell me about Andrew Carnegie.
- Born November 25, 1835
- Came to America from Scotland at age 12
- Owned a Steel mill (Carnegie Steel)
- Set up Libraries, public institutions and colleges
-Tell me about John D. Rockefeller.
- he found oil and he started a oil business
- treated his employees equally and good
- but he didn't treat his competition good.
-What was Social Darwinism and how did it apply to business?
- Means that the states who have the fittest will strive in the society
- Survival fittest- Those who have good people will survive, and the small business who don't have good people ant aren't big will get bought out.
- People who believe in Darwinism were superior
- Either rich or poor, no in between.
- Lazy and uneducated would be chosen to be in poverty
- Darwinisms thought that poor people would ruin society
- Caused big business' to take over small ones.
-Explain how companies formed monopolies(vertical/horizontal integration, trusts).
- Vertical Integration- A process in which he bought out his suppliers in Order to control the systems
- Horizontal Integration- Companies producing similar productions merge
- Where a business tries to buy out another business
-How did the government try to regulate business?
-What are labor unions and what is their purpose?
- for better pay
- some women worked for double wages
Were labor unions successful in achieving their goals? Explain/Give examples.
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