today we talked about carnegie worked at the pennsylvania railroad where he made loads of money, in 1899 the carnegie steel company produced more steel then all the factories in great britian. to do this he used two processes called vertical and horizontal intergration. vertical intergration is was the act of buying out other companies, horizontal intergration was that they owned everything so they could sell their products for however much you wanted. social darwinism explains the process of natural selection. john D. Rockerfeller controlled the largest oil company in the united states. he used a process called monopoly to take controll of the markets and build his wealth. rockefeller was the worlds richest man and the first american billionair. many people called him a robber baron. rockefeller used trusts to grow his oil company. in 1890 the sherman anti trust act made it illegal to form trust, the big business boom by passed the south. labor unions are workers in a group, working conditions were horrible. in 1882, 675 laborers were killed each week, their hours were long, they didnt get compensated, child laborers, ages 5-15 years of age.
i think this was very interesting because of how people felt about John D. Rockefeller and how he started using darwinism.
Comments