Captains of Industry or Robber Barons? John D. RockefellerAndrew CarnegieJP Morgan Standard Oil U.S. Steel Banking and Investment.

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Captains of Industry or Robber Barons? John D. RockefellerAndrew CarnegieJP Morgan Standard Oil U.S. Steel Banking and Investment

Setting the Scene- Historical Circumstance 19 th Century Gilded Age ( ) Laissez- Faire Economic Policy Expansion of the Transcontinental Railroad Rapid Industrialization, Urbanization, Innovation Tremendous wave of New Immigration Social Darwinism

Positive Influence -“Captains of Industry”

Negative Influence- “Robber Barons”

You Decide!

Important Vocabulary Free Enterprise- pure capitalism Corporations Social Mobility – “Rags to Riches” Mergers- Vertical and Horizontal Integration Monopolies- trusts and holding companies Pools Social Darwinism Conspicuous Consumption Philanthropy Labor Unions- Knights of Labor, American Railway Union, American Federation of Labor Urbanization New Immigration – Push and Pull Immigration