Vertical and Horizontal Integration: The Captains of Industry SOCIAL DARWINISM: Survival of the fittest is most closely in tune with a capitalist system. Individuals, just like species, have in their nature, the ability and will to survive and thrive. LAISSEZ FAIRE: A government does not have the right to intervene in the economic and business endeavors of a society

What is Vertical Integration/Vertical Monopoly? Originally made his money through investment in the Pennsylvania Railroad Realized that the growth of railroads involved a need for more steel, so he invested in steel He used his steel company to complement his railroads and developed a vertical monopoly

What is horizontal integration/monopoly? He discovered oil and then invested in discovering more. He started the Standard Oil Company He used the capital and success of his oil company to buy out lesser oil companies, eventually controlling most of the country’s oil resources. In doing so he created a Horizontal monopoly in the oil industry

At Issue: Robber Barons versus Muckrakers Robber baron is a negative term for those who used shady business practices to gain a selfish personal advantage during the ‘Guilded Age” A ‘Captain of Industry” is a positive term for someone who used entrepreneurship and ingenuity to help the country progress during the ‘Guilded Age’ A muckraker is a positive term used to describe one who works hard to dig up the truth. These men and women are considered the basis of the ‘Progressive Era’ A Yellow is a negative term for a sensationalist journalist that attempted to tarnish reputations and disrupt and impact growth.

YOUR TASK: Define the two Eras and Choose one person in each to investigate. Be able to discuss them from BOTH PERSPECTIVES! John Jay John Jacob Astor William Randolph Hearst Cornelius Vanderbilt Henry Ford JP Morgan William Boss Tweed Alexander Graham Bell Ida Tarbell Jacob Riis Lewis Hine Upton Sinclair Lincoln Steffens Nelly Bly Ambrose Bierce Helen Hunt Jackson

Key Vocabulary Entrepreneur Robber Barron Captain of Industry Yellow Journalism Muckraking Sherman Anti-Trust Act Philanthropy Food & Drug Administration Urbanization Immigration Laissez Faire Classes (low, mid, upper) Pullman Strike Unionization/Unions Exploitation Monopoly Horizontal Monopoly Vertical Monopoly Socialism Tenement Protective Tariff Patent Jobs (Blue Collar/White Collar) Interstate Commerce Act Knights of Labor Haymarket Riots