The Americans. Pages 241-249

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The Americans. Pages 241-249 by Mind Map: The Americans. Pages 241-249

1. Union movements diverge

2. Carnegie's Innovations

2.1. In 1848, at the age of 12 worked for transport company

2.2. Received dividend for his work.

2.3. Observed the Bessemer process and went into the steel business

2.4. Vertical integration

2.4.1. Controlling production from start to finish

2.4.2. Enables you to undercut the competition through the shifting of capital

2.5. Horizontal integration

2.5.1. Controlling similar industries and having the power to control the price

2.5.2. Enables a monopoly to happen

3. Social Darwinism and Business

3.1. The belief that economic systems are best left alone and that so that the weak can be sorted out

3.1.1. Survival of the fittest

3.2. 4000 millionaires since civil war

3.2.1. Superior because God blessed them.

3.3. Promoted by a Yale professor as well

3.4. Promoted by Herbert Spencer

4. Fewer controlling more

4.1. Buying out the competition

4.2. John D. Rockefeller

4.2.1. Became rich through trusts

4.3. Sherman Anti-Trust Act

4.3.1. Was difficult to enforce because it was tough to prove if something is a trust

4.4. Southern Business

4.4.1. Lacked capital, remained agricultural.

4.5. Merging through a holding company

5. Labor Unions Emerge

6. Strikes turn Violent