DEVELOPING THE ROLE OF BIG

BUSINESS

TyEssence Martin Asia Romero Angel Prince Ashley Harmon Deonte Vaughan

THE RISE OF BIG BUSINESS The rise of business became very competitive

during this time period. Everyone tried to do what they could in order for their businesses and corporations to succeed.

Monopoly: complete control of a product or service

Cartel: association of producers of a good or service that prices and controls stocks in order to monopolize the market

J.P. MORGAN

April 17, 1837- March 31, 1913

He was an American financier, banker, philanthropist and art collector who dominated corporate finance and industrial consolidation during his time.

He increased his profits by his corporation supporting laboratory research where inventors had experience.

CORNELIUS VANDERBILT

May 27, 1794 – January 4, 1877

He was an American industrialist and philanthropist who built his wealth in shipping and railroads. He also got his start in steamboat business.

He succeeded in getting his competitors to pay him to relocate because he was driving them out of business with his low fares.

JOHN D. ROCKEFELLER

July 8, 1839 – May 23, 1937

He was the founder of a standard oil company which dominated the oil industry.

His company killed its rivals and Vanderbilt admitted Rockefeller was the one in only man who could dictate him.

ANDREW CARNEGIE November 25, 1835- August 11, 1919

“Rags to Riches”: Family of immigrants but began work when he came to America. Started off in textile factory then a job in a railroad office. By age 40, wealthy investor and successful steelmaker.

He increased his power by gaining control of the many different businesses that make up all phases of a product’s development. This process is vertical integration.

Were consumers harmed by the unfairly high prices that monopolies and cartels set on their products.

At this time many people believed business leaders served the nation positively, thus earning the nickname they have.

ROBBER BARONS VS. CAPTAINS OF INDUSTRY

Robber BaronsCaptains of

Industry

Robber Barons

Captains of Industry

CHARLES DARWIN

February 12, 1809 – April 19, 1882

He believed that animals evolved by the

process of “natural selection” and that

only the fittest survived to reproduce.

SOCIAL DARWINISM

A belief held by some in the late nineteenth century that certain nations and races were superior to

others and therefore destined to rule over

them.

Many used it to justify all sorts of beliefs and

conditions and thought the nation

would grow stronger.

CITATIONSWIKIPEDIA

UNITED STATES HISTORY BOOK