John D. Rockefeller
This man founded Rockefeller University
Who is John D Rockefeller
John Pierpont Morgan was born in Connecticut and his father was a banker that would pass the Morgan Bank on to him.
What was JP Morgan's upbringing
he was a Scottish immigrant and worked in factories until he was 12
Who is Andrew carnegie
Trusts are a characteristic of this type of economy
what is Capitalistic
A person who is in the top percent of the economy and had monopolized a certain corporation
What is a titan of industry
1870 Trust company put together by Rockefeller
What is Standard Oil?
General Electric, U.S. Steel, and International Harvester.
What corporations did JP Morgan help form
this was the industry that Andrew Carnegie expanded greatly
What is the steel industry
A hold on an industry by a singular company
what is a Monopoly
goodwill to fellow members of the human race; active effort to promote human welfare
What is philanthropy
A method of buying out rival companies to consolidate
What is horizontal expansion?
Albany and Susquehanna, New York Central, Philadelphia and Reading, and Chesapeake and Ohio
What railroads did JP Morgan bring together to stop competition and gain stock
the number of hours Carnegies workers worked
what are 12 hour shifts.
A combonation of multiple companies in the same industry into one to reduce competition
what is a Trust
the name for a Titan of Industry that were seen in the light of building the economy.
What is Captians of Industry
A type of contract barring employees from unionizing
What is a yellow-dog contract?
New York stock exchange had a fallout and JP Morgan got together with other financers to produce liquidity to support the market and save it from crashing
How did the 1907 crisis get resolved and help get the Federal Reserve System in place
a document written in 1889 that described the rich as mere trustees of their wealth who should live unostentatiously, provide moderately for their families, and use their fortunes to promote the “general good.”
What is The Gospel of Wealth
This Federal Act attempted to dismantle trusts and monopolies
what is the Sherman Antitrust Act
Name for Titans of Industry who were seen in a negative light for the dictatorial operations of their corporations
Who is Robber Barons
The most famous university funded by Rockefeller
What is the University of Chicago?
He gave to Episcopal churches, was a trustee of American Museum of Natural History and donated artifacts, and he was also a collector of fine art
What philanthropy did JP Morgan participate in
this is a strategy that controls every part of the production chain. Andrew Carnegie was a strong believer in this strategy
What is vertical integration
This landmark Supreme Court ruling was a turnabout in legal rulings, with the Antitrust Act finally being enforced
what is Northern Securities v United States
the ideology that some people are worse off because of their genetics and were not "fit for their environment"
What is social Darwinism