Big Business vs. Labor, 1870-1925

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American History


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Lucille A


Date added:

December 11, 2012








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16 / 4399


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The overall growth of American business was fueled by the abundance of natural resources and land in America. Alfred D. Chandler, Jr. suggests that there were additional causes, including: "the westward expansion?; the building of railroads?; the growth of the national and urban market?; the coming of electricity and the internal combustion energy?; and finally, the growth of systematic and institutionalized research and development?...
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John D. Rockefeller is an excellent example. Rockefeller used the concept of horizontal integration to control and expand his oil monopoly, and eventually become the first billionaire. Andrew Carnegie implemented vertical integration, and also reached previously unimaginable levels of wealth. Both used trusts, pools and other now-illegal methods of monopolization to help reduce competition and attain larger amounts of capital...
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