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March 5, 2015
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1 / 260
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Each level has a strong degree of independence. One county could decide to stay dry (without alcohol) where another would be wet.
Since the end of the Civil War, American capitalism gave rise to monopoly capitalism, through horizontal integration (the bigger ones buy smaller ones and merge) and vertical integration (one company controlling several parts of a business: manufacturing or raw materials, distribution, selling...
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It is characterized by fierce competition: end of productive power, spreading of false rumors on the stock market and the taking advantage of it.
Newspaper magnate R. Hearst hired gangsters to buy his newspaper and convince others to buy them. C. Vanderbilt started a civil war to get control of the canal of Panama to protect his own interests...
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