Us History

TRANSCONTINENTAL RAILROAD: a stun constitution that buffet through the continental United States. STEEL INDUSTRY (BESSMER PROCESS): a knead developed in the 1850s that led to faster, cheaper, steel production. capitalist economy: sparing system in which most production linees are privately owned. horizontal INTEGRATION: owning all headache in a certain(prenominal) field. VERTICAL INTEGRATION: the traffic practice of owning the callinges bear on in each step of a manufacturing process. CAPTAINS OF INDUSTRY: 1. Cornelius Vanderbilt: (1794-1877) American line of merchandise leader who controlled the New York Central Railroad and up to 4,500 miles of railroad track; he later donated $1 cardinal to a Tennessee University. 2. Andrew Carnegie: (1835-1919) American industrialist and humanitarian; he focused his incident through his vertical integration method. 3. John D. Rockefeller: (1839-1937) American industrialist and altruist; he made a fortune in the anele business and used vertical and horizontal integration to devote a monopoly on the steel business. 4. Edwin L. Drake: (1819-1880) he drilled the first of all mercenary oil well in the United States, selective service oil prospectors (wildcatters) to the West.

ROBBER BARONS: the business tycoons of the late 1800s LAISSEZ-FAIRE: In french meaning allow to do a business system where companies are allowed to conduct business without interference by the government. TRUSTS: The companies concur to merge and turn over their separate stocks to a scorecard of trustees. The trustees then ran the group of companies as if it were a mavin corporation and all the participants split the profits. MONOPOLY: having comple! te control in the marketplace, without any(prenominal) outside competition. JOHN D ROCKEFELLER:  (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 bicker a full essay, order it on our website: OrderEssay.net

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