The Gileed Age Industrialization Flashcards
What was the Bessemer process ?
A cheap way to transform iron into stronger lighter steel
What was Thomas Edison’s most influential invention ?
Electric light bulb
Americas Industrial Revolution was fueled by what 4 major industries ?
Rose
Railroad oils steel electricity
The iron and steel industries were dominated by who
Andrew Carnegie
What was wrong with Carnegie ?
He did not pay his employees a lot and did not allow unions in factories
What was good about Carnegie
He was a Philanthropist who gave money to libraries colleges and performing arts institutions
Who dominated the oil industry
Rockefeller
What was bad about rocker feller
Took advantage of workers used his fortune to influence government
What was good about rockerfeller
Gave 500 million to charities created the Rockefeller foundation and founded university of Chicago
Who dominated finance in
Jp Morgan
What lntergration did Rockerfeller use
Horizontal to buy similar companies
What intergration Carnegie use ?
Vertical to by companies in order to gain material
Monopolies means controlling
The majority
What is social Darwinism ?
Natural selection /competition weeds out weak allows strong to survive
