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AGENDA:
 Have
out dialogue homework to hand
in.
 Notes in notebook
 Homework in notebook:
Acrostic
poem
INDUSTRIALIZATION
“Z”-zoned
for business
9/23 CAPTAINS OF INDUSTRY
MONOPOLIES…LIKE THE GAME?

It’s just like winning the game!

One company or small group that has TOTAL
control over one part of business
IT’S ALL ABOUT TRUSTS!

Trust:
A
group of corporations that unite to reduce
competition and control prices in a business

Many believed that trusts threatened American
economic and political freedoms
 Wealthy
business owners who were part of trusts
used their enormous wealth to buy elections and
corrupt public officials.
POLITICAL MACHINES

Political bosses do favors and then people vote
how they are told

Quid-pro-quo (something for something)

Robber barons:
 Wealthy
businessmen who used corrupt practices
to get ahead
POLITICAL CORRUPTION
Corruption common and state and local levels
of government
 Boss Tweed ran the Tammany Hall political
machine in New York City

CAPTAINS OF INDUSTRY

Andrew Carnegie

John D. Rockefeller

J.P. Morgan
VERTICAL INTEGRATION
When one company is responsible for every
part of the production of an item from
beginning to end (raw material to finished
product)
 Example:

 Carnegie
 owned
Steel Co.
iron ore mines and paid workers to mine
 owned railroad companies for shipping iron ore to
factories
 owned the factories that turned the iron ore into steel
HORIZONTAL INTEGRATION
When one company owns all the businesses in
a field
 Example:

 Standard
 Bought
Oil
out all other oil companies so Standard Oil owned
the market
CAPTAINS AS PHILANTHROPISTS

Philanthropist:
 someone
who uses their wealth for the benefit of
the less fortunate
Rockefeller Center
Carnegie Hall