Chapter 23-24 APUSH Review

1. By the pool method the company would consume all competition to control supply interlocking directorate was when a company or group with control the board members of other companies to facilitate deals to benefit the baeking party horizontal integration is where a corporation controls all of one area of production to hold a monopoly on that stage of production vertical integration is when a company controls all stages of production of a product controlling every part and monopolizing prices
2. Interstate commerce act: designed to regulate the railroad companies and it's monopolistic practices argued that rates must be logical and just and not discriminatory to the buyer
Sherman antitrust act: prohibited monopolies and allowed investigations of trusts
3. NLU: first national union landMark but ineffective
KOL: promoted an 8 hour workday poor organization promoted republicanism never acted truly as a formed labor union
AFL: makes of other labor unions (samuel Gompers) craft union as it combined other unions into one
IWW: Wobblies; socialist idea that all workers should be part of a single social class
American railway union: largest union of the time; try to unionize all workers
4. Higher immigrants; change policies temporarily to quell workers; outsource jobs
Andrew Carnegie: controlled most of steel production in the US (US steel)
J.P. Morgan: investment banker
Cornelius Vanderbilt: railroad monopoly
6. Written by Andrew Carnegie in 1889, shows the philanthropy of the self made rich
7. After the Civil War, industry was booming. Investors took the opportunity to control prices on laying railroads, and extorted the government out of land. Bought out congressman to stay quiet
8. The Government was paid off to side with them, so that big business could continue supporting the not completely stable economy.
9. That only those who deserve wealth, or smart with their wealth, and who invest will retain their wealth. "Natural selection"
10. It adapted