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New technology inventions sets stage for industrial growth in America after 1850 Big Business leaders John D. Rockefeller, Andrew Carnegie and Gustavus Swift. They are viewed in two ways: Captains of Industry served USA positively, created jobs Philanthropists- giving to charities, founding libraries and museums Robber Barons built fortunes from exploiting workers drained USA’s natural resources Social Darwinism- Big Business men justified what they did by Darwin’s theory of evolution “only the strong survive” Federal Government- lassiez-faire policies- hands off of business practices and people, no regulations Creating a Big Business Monopoly: buying out competitors in same business, prices rise only one choice Trust similar businesses turning over assets to a board to control prices and competition. Consolidation: creating huge businesses controlled by one company Vertical and Horizontal. Some Americans believed big business was bad- didn’t protect workers and consumers. Federal government begins to interfere Sherman Anti-Trust Act 1890 Law passed to restrict creations of big businesses. Began breaking big companies up.

The industrialist robber barons of the late 19th century were predatory and materialistic their bloated corporations were threats to those humane and democratic values that made America great. Business tycoons turned modern America, with its standardize life and machine culture, into a place in which Jefferson, Jackson and Lincoln would be strangers. The giants of industry were primitive souls, ruthless, predatory, capable; single-minded men, rogues, and rascals often, but never feeble. “The contrast between the palace of the millionaire and the cottage of the laborer with us today measures the change which has come with civilization. This change however is not to be deplored, but welcomed as highly beneficial. The Socialist or the Anarchist who seeks to overturn present conditions is to be regarded as attacking the foundation upon which...

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