The Robber Barons.

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Presentation transcript:

The Robber Barons

Review Social Darwinism Applied to Business as well as Imperialism

Andrew Carnegie Scottish immigrant came to the U.S. at the age of 16. Started as railroad secretary Bought stock to build fortune

John D. Rockefeller Held interests in railroad and oil. Established monopolies to control industry Richest man in America ($340 billion in today’s $$)

Horizontal Integration The merger of companies at the same stage of production in the same or different industries. When the products of both companies are similar, it is a merger of competitors. When all producers of a good or service in a market merge, it is the creation of a monopoly.

Vertical Integration Merger of companies at different stages of production and/or distribution in the same industry. When a company acquires its input supplier it is called backward integration. When it acquires companies in its distribution chain it is called forward integration. For example, a vertically integrated oil company may end up owning oilfields, refineries, tankers, trucks, and gas (petrol) filling stations.

Vertical Integration Sushi Corp Restaurants Shipping Trucks Fishing Fleet Rice Farms

Horizontal Integration Sushi Corp Sushi Stop McSushi Sushi Express