J.P. Morgan Flashcards
0
Q
Corporate consolidation
A
Creates mega mergers that create mega corporations, totally dominate an entire industry
1
Q
What business was JP involved in
A
Money monopoly - invests in finance capitalism
2
Q
Morgan starts buying what in the 1890s
A
Buying railroads- inexpensive due to recession
3
Q
He controlled how much of the nations railroads
A
2/3
4
Q
Morgan “waters down the stock” what does this mean
A
He sells more stock than the corporation is worth
5
Q
He bought what companie for $480 million
A
Carnegie steel
6
Q
Morgan mega merges Carnegie steel with another large steel corporation and calls it
A
U.S steel
7
Q
Oligopoly
A
Several large companies control an entire industry
