Robber Barons: Andrew Carnegie JP Morgan And John D. Rockefeller

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1.The robber barons were Andrew Carnegie JP Morgan and John D. Rockefeller. These individuals were known as robber barons because they were eliminating competition by high pricing and overcharging while managing their monopoly. 2. Trunk lines were four major railroad networks that emerged after the civil war which connected eastern sea ports to western rivers as well as great lakes. The federal government loaned $65 million to western railroads and donated millions of acres. These grants helped to build over 18,000 acres of track. 3. Vertical integration is a type of organization in which a single company controls and owns the entire process from the raw materials to the manufacturing and sale of the product. Horizontal integration is a strategy where a company creates …show more content…

Trust is a way to manage a business which is designed to make the business more efficient. The advantages that trust are that they had little competition and their profits skyrocketed. 5. The nature of American labor during the 19th century was based on what an individual was capable of. Most wage earners worked at least six days a week, 10 hours a day. If individuals were skilled they earned about 20 cent an hour, if they were unskilled it would be half that amount. Work was extremely dangerous during this time period. Accidents were common because safety standards were low and thousands suffered from chronic illness. Workers would earn about $400 and $500 a year but for a family of four they needed to earn about $600 to live decently. 6. The conditions of child labor were horrible. Many of the children grew up in factories, working long hours for low wages in extremely dangerous conditions. 7. The Knights of Labor was the most significant and the largest American labor organizations the largest of the 1880s. The Knights promoted the social and cultural uplift of the middle class working man, demanded the eight-hour day rejected Socialism and radicalism, and promoted ethic of

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