THE TYCOONS OF BIG BUSINESS

HORIZONTAL INTEGRATION OIL COMPANY a + OIL COMPANY B + GAS COMPANY C COMBINING MANY FIRMS ENGAGED IN THE SAME TYPE OF BUSINESS

VERTICAL INTEGRATION CONTROLLING THE DIFFERENT BUSINESSES ON WHICH A COMPANY DEPENDS FOR ITS OPERATION IRON ORE FIELDS + LIMESTONE QUARRIES COAL MINES

MONOPOLY WHEN A COMPANY ACHIEVES TOTAL CONTROL OF THE MARKET POSITIVE: LOWER PRICES NEGATIVE: NO COMPETITORS CAN CHARGE WHATEVER IT WANTS

CONSOLIDATION PRODUCED EMPLOYEES HAD POOR WORKING CORNELIUS VANDERBILT POSTIVES: MADE RAILROADS MORE EFFICIENT MADE SHIPPING CHEAPER NEGATIVES: CONSOLIDATION PRODUCED A MONOPOLY EMPLOYEES HAD POOR WORKING CONDITIONS

FOUNDED STANFORD UNIVERSITY AND BECAME WEALTHY AS A RAILROAD LELAND STANFORD FOUNDED STANFORD UNIVERSITY AND BECAME WEALTHY AS A RAILROAD INVESTOR

JAMES J. HILL ACCEPTED NO LAND GRANTS OFFERED LOW FARES FOR HOMESTEADERS OPERATED GREAT NORTHERN RAILWAY, THE MOST SUCCESSFUL COMPANY

JAY GOULD BRIBED GOVERNMENT OFFICIALS MANIPULATED STOCK BY INSIDER TRADING CHEATED ON CONTRACTS AND DEBTS

JOHN D. ROCKEFELLER DIRECTOR OF STANDARD OIL COMPANY CONTROLLED OVER 90% OF OIL REFINERIES BECAME HEAD OF A POWERFUL MONOPOLY

ANDREW CARNEGIE BEGAN AS A TEXTILE MILL WORKER BROUGHT THE BESSEMER STEEL PROCESS TO THE UNITED STATESAND LOWERED THE PRICE FOR MAKING STEEL DONATED MONEY FOR CHARITIES, SUCH AS LIBRARIES AND CONCERT HALLS