Important people
Cornelius Vanderbilt expanded what infastructure?
Railroads
Who invented the light bulb?
Thomas Eddison
What is the definition of a monopoly?
When one company controls an entire industry
What was the first trust ever formed?
Standard oil
What did corporations create?
Monopolies
John D. Rockefeller turned the oil industry into what?
A monopoly
What inspired the telephone?
The telegraph
An LLC
When did the Sherman act go into effect?
1890
What did industrialists become during this time?
Philanthropists
Who did Andrew Mellon's policies assist?
The wealthy
Who was the first person to use the Bessemer converter?
Andrew Carnegie
What is something vertical integration can be compared to?
What act was used to strengthen the Sherman act?
The Clayton act of 1914
What was the first billion dollar corporation?
U.S. Steel
What was the name of J.P. Morgans financial enterprise?
The house of Morgan
When was the phonograph invented?
1877
What is a political view that many wealthy Americans had at the time?
Laissez-Faire
What were the problems with the Sherman act?
How did most corporations grow?
Investments
Andrew Carnegie met who that inspired the process he used to cheaply produce steel?
Henry Bessemer/The Bessemer process
What did the assembly line ensure?
What was the method used by John Rockefeller to grow his business?
Horizontal integration
Farm and labor organizations
What did corporations push for under the guise of economic stimulation and growth?
Tax cuts