http://. www.history.com/shows/men-who-built-america/videos/the-men-who-built-america-traits-of-a-titan. A Brassy, Flamboyant Age. The Gilded Age, the period between the end of Radical Reconstruction (1877).
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Presentation on theme: "Big Business"— Presentation transcript:
U.S. industrialist who made a fortune in the oil business.
By 1880, Standard Oil controlled almost 90% of the oil refining industry in the U.S.
When a single company achieves control of an entire market, this is called a
The Consolidation of Industry
By the late 1800s, Americans grew suspicious of large corporations and monopolies.
To preserve competition, many states made it illegal for one company to own stock in another without permission from state legislature. Slide16
To preserve competition, many states made it illegal for one company to own stock in another without permission from state legislature.
1882 Standard Oil formed the first trust—a new way of merging businesses without violating the law of owning other companies.
: a legal concept that allows one person to manage another person’s property (called a trustee). Ex) Standard Oil trustees were able to control a group of companies as if they were one large merged company. Slide17
Alexander Graham Bell
the harmonic telegraph, an instrument that makes it possible to send multiple telegraphs on one line
He is credited for holding 1,093 patents
Best known for perfecting the incandescent light bulb.Slide19
American Railroad baron.
important or powerful
person in a specified business or industryWealthiest man in the United States during the nineteenth century. Self-made man.Name sake of Vanderbilt University in Nashville, TN.Slide20
Don’t write all of this.
The great wealth many railroad entrepreneurs acquired in the late 1800s led to accusations that they built their fortunes by swindling investors and taxpayers, bribing government officials, and cheating on their contracts and debts.
Corruption in the railroad industry became public and created the impression that all railroad entrepreneurs were
Captains of Industry or Robber Barons?
: people who loot an industry and give nothing back.
By 1900, big business dominated the economy, operating vast complexes of factories, warehouses, offices, and distribution facilities. Slide22
business leader, financier and banker.
He was criticized for creating monopolies by making it difficult for any business to compete against his.
Morgan dominated two industries in particular
He helped consolidate railroad industry in the East. Formed the United States Steel Corporation in 1901.Slide23
Big Business - Description
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