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THE TYCOONS OF BIG BUSINESS
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HORIZONTAL INTEGRATION
OIL COMPANY a + OIL COMPANY B + GAS COMPANY C COMBINING MANY FIRMS ENGAGED IN THE SAME TYPE OF BUSINESS
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VERTICAL INTEGRATION CONTROLLING THE DIFFERENT BUSINESSES
ON WHICH A COMPANY DEPENDS FOR ITS OPERATION IRON ORE FIELDS + LIMESTONE QUARRIES COAL MINES
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MONOPOLY WHEN A COMPANY ACHIEVES TOTAL CONTROL OF THE MARKET
POSITIVE: LOWER PRICES NEGATIVE: NO COMPETITORS CAN CHARGE WHATEVER IT WANTS
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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
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FOUNDED STANFORD UNIVERSITY AND BECAME WEALTHY AS A RAILROAD
LELAND STANFORD FOUNDED STANFORD UNIVERSITY AND BECAME WEALTHY AS A RAILROAD INVESTOR
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JAMES J. HILL ACCEPTED NO LAND GRANTS OFFERED LOW FARES FOR
HOMESTEADERS OPERATED GREAT NORTHERN RAILWAY, THE MOST SUCCESSFUL COMPANY
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JAY GOULD BRIBED GOVERNMENT OFFICIALS MANIPULATED STOCK BY INSIDER
TRADING CHEATED ON CONTRACTS AND DEBTS
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JOHN D. ROCKEFELLER DIRECTOR OF STANDARD OIL COMPANY
CONTROLLED OVER 90% OF OIL REFINERIES BECAME HEAD OF A POWERFUL MONOPOLY
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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
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