ADVANTAGES


exerting control over national resources
accruing high levels of government influence
paying extremely low wages
squashing competition by acquiring competitors in order to create monopolies and eventually raise prices


Cornelius Vanderbilt
Shipping and Railroad Tycoon
Started out as a shipping tycoon around NYC
During the gold rush ship prospectors to San Francisco via Nicaragua
Moved into railroads
merged three local railroads
within 4 years extended his control to Chicago
Gospel of Wealth
Carnegie
great power=great responsibilities
advanced social progress
donated millions of dollars to the public library system
Social Darwinism
survival of the fittest
Herbert Spencer
eliminate the unfit
talented survive
Excuse: American ideals of freedom & individualism
Captains of Industry
Created new jobs and higher wages- rise of middle class
transformed America from a rural nation to an industrial nation
donated huge sums of their own money to charity
made products cheaply for the American public
John D.

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