Industrialism Flashcards
gilded age-who, what, the change
mark twain
corruption
agricultural economy–>urban industrialization
vertical integration
Carnegie
control all steps of manufacture for one product start to finish
horizontal integration
Rockefeller
control a whole market through subsidiary businesses, monopoly, many diff products
standard oil
what was the new concern in the gilded age
as big businesses grew, so did the gap between the rich and poor.
tariffs (govt making it easy for corps) and monetary policy
jay gould
railroads, telegraph
vanderbilt
railroads
carnegie
steel
rockefeller
standard oil
jp morgan
banking, railroads, steel
first oil
pa 1859, lubricating oil for machines and kerosene for lamps
ida tarbell
muckraker, Rockefeller took her fathers company, history of the standard oil company
finance capitalism
investment sponsored by banks and bankers, company owners must lose control and overcapitalize, using others money paid in stock they can sell for more money
social darwinism
Herbert spencer
biggest most successful companies should be allowed to flourish
hypocrisy: tariffs
gospel of wealth
Carnegie
the wealthy should use their money to benefit this public and aid future generations
ex: parks
the new south
grady
newpaper editor, Georgia, south became industrialized
neg: northern investors
pos: tobacco industry