Monday: Continued Presentations- Chapter 6-3 reviewed
Tuesday: Reviewed for the test tomorrow
Wednesday:
Thursday:
Friday:
Notes:
Bruns Notes:
Ch. 6.3:
-Tell me about Andrew Carnegie.
Lived in a poor house, left his job and entered the steel business, 1899 factured more steel then all other businesses, tracked every expense,
-Tell me about John D. Rockefeller.
Joined in competing companies and trust agreements (not legal mergers) 1870 process 2 or 3 percent 10 yr later 90 %, got control of market, gave away 500 million to establish Rockefeller foundation,
-What was Social Darwinism and how did it apply to business?
Smart species gone on bad die out, individuals process of natural selection- enabled best to survive so bad ones die
-Explain how companies formed monopolies(vertical/horizontal integration, trusts).
Vertical- Business was booming control who process (transportation, mining, building, etc...)
Horizontal- companies buy out other (same industry) companies getting 100% control
Trust- A bunch of different companies joined under one name (monopoly)
-How did the government try to regulate business?
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