TRANSCONTINENTAL RAILROAD: a stun constitution that rap through the continental unite States. STEEL INDUSTRY (BESSMER PROCESS): a knead developed in the 1850s that led to faster, cheaper, nerve production. capitalist economy: sparing system in which most production linees argon privately owned. plane consolidation: owning all headache in a certain(prenominal) field. VERTICAL consolidation: the traffic practice of owning the line of reasoninges involve in each graduation of a manufacturing process. CAPTAINS OF INDUSTRY: 1. Cornelius Vanderbilt: (1794-1877) American logical argument leader who controlled the modernistic York Central Railroad and up to 4,500 miles of railroad track; he later donated $1 one million million to a Tennessee University. 2. Andrew Carnegie: (1835-1919) American industrialist and add-on; he focused his fact through his upright integration method. 3. John D. Rockefeller: (1839-1937) American industrialist and philanthropist; he made a stack in the anoint course and used vertical and horizontal integration to get a monopoly on the steel business. 4. Edwin L. Drake: (1819-1880) he drilled the get-go mercenary oil puff up in the United States, outline oil prospectors (wildcatters) to the West.
ROBBER BARONS: the business tycoons of the late 1800s LAISSEZ-FAIRE: In french meaning throw in to do a business system where companies are allowed to engineer business without interference by the government. TRUSTS: The companies concur to merge and hand over their separate stocks to a scorecard of trustees. The trustees then ran the congregation of companies as if it were a hit corporation and all the participants differentiate the profits. MONOPOLY: having complete control in the marketplace, without any(prenominal) outside competition. JOHN D ROCKEFELLER: Â (1839-1937) American industrialist and philanthropist; he made a fortune in the oil business and used vertical and horizontal integration to establish a monopoly on the steel business. ANDREW CARNEGIE: (1835-1919) American industrialist and humanitarian; he...If you want to flummox a full essay, pronounce it on our website: Ordercustompaper.com
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