Ch. 6.3:
-Tell me about Andrew Carnegie.
- born nov 25, 1835
- he came over to america at the age of 12 from scotland.
- andrew was rewared by his boss to buy stock.
- andrew left the railroad company in 1865.
- he set up libraries, public, institutions, and a college.
- he found ways to make better products cheaper.
-Tell me about John D. Rockefeller.
-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 OF THE FITTEST!
- he believes that the rich should just become richer.
- caused big businesses to take over small businesses.
-Explain how companies formed monopolies(vertical/horizontal integration, trusts).
- vertical integration a process in which he bought out his supplies in order to control the systems.
- horizontal integrations- companies producing similar products merge.
-How did the government try to regulate business?
-What are labor unions and what is their purpose?
Were labor unions successful in achieving their goals? Explain/Give examples.
W.A.S.P!!
W=white
A=anglo
S=saxton
P=Protestant
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