Industrialists

Question 1

Andrew Carnegie

Answer 1

-US Steel
-Vertical
Consolidation
-Buy up all phases of production to cut out middle man
-McDonald’s buys up chicken farms, cows, wheat fields, and Oreo Company

Question 2

John D. Rockefeller

Answer 2

• Standard Oil Company
• Horizontal Consolidation
• Control all companies in the same industry
• McDonald’s works with Hardee’s, Wendy’s, and Burger King to keep prices the same

Question 3

JP Morgan

Answer 3

• Banker
• Interlocking Directorates
• Put members of company in every branch of business
• The managers of all fast food businesses work for McDonald’s corporation

Question 4

Workplace Problems

Answer 4

• Piecework More Production = More Pay
• Sweatshops Long hours, low wages, bad jobs
• Division of Labor Everyone gets different task
• Child Labor: Children as young as 5 work