This changed during the Gilded Age as businessmen like Carnegie adopted vertical integration thereby eliminating all middlemen in the process. Instead of meat being handled by different individuals, a single businessman engaged in all the trades from cattle breeding to retailing meat. This led to the emergence of corporations such as the giant steel empire of Carnegie which brought them huge profits. Others such as Rockefeller adopted horizontal integration (purchase of competing companies in the same industry) thus eliminating competitors. Rockefeller purchased all independent oil refineries creating a monopoly in the market named the Standard Oil Company. Such investors were referred as robber barons as they did everything they could to earn profits. Corporations produced powerful tycoons such as Carnegie, Rockefeller and Frederick Weyerhaeuser (timber industry) and consequently business malpractices. Rockefeller was the richest man, Carnegie the fourth richest and Weyerhaeuser the seventh richest. These and other wealthy businessmen formed trusts to monopolize the production of goods. This prompted the U.S government to pass legislation such as the Sherman Anti-trust Act of 1890 and the Interstate Commerce Act of 1887 to curb such malpractices and corruption. The Interstate Commerce Act was to eliminate discrimination against small shippers by railroads while the Anti-trust Law was to curb monopolies. Speculations by tycoons often led to an economic crisis such as the panic of 1893.
The essay "The History Of Industrialization" tells us about industrialization during the Gilded Age revolutionalized American business and labor practices as evidenced by the emergence of corporations, labor violence and national unions, laws, and regulations, and politics based on business…
It was the most transformational span in human history that brought a revolutionary change in the lives of the people. Tilly (2010) explains that it was the process closely associated with a structural change that provided for ‘absolute and relative growth in industrial activity’.
Industrialization occurred from the 18th century to 19th century where there was massive transformation on production processes. The most pronounced characteristics of industrialization are technology and innovations to beat superstitions and believe as well as environmental challenges like weather and calamities.
The person who initiated the American industrial revolution was Samuel Slater when he opened the industrial mill, an idea he borrowed from Great Britain and brought to America. This facilitated the process of spinning yarn by hand with a loom hence marking the beginning of industrialization in America.
These factors affect and determine the rates of industrialization for a particular country. This explains the reasons as to why there are varying levels and rates of industrialization in different countries all over the world. For instance, states like the US and Germany have made considerable strides in industrialization and these are comparable to other countries such as the Soviet Union, Japan, China and the UK.
Ans. The history of Labor Movement and the labor unions in the United States, compared to history of industrialization in the United Kingdom, has never taken a concretized form. While in the earlier part of the 19th century, despite presence of ample
Destruction of the same means threat to life, and destruction of an ecosystem that supports life. Industrialization is a major pollutant to air and it occurs in two levels. First, primary pollutants that are emitted directly to the atmosphere for example the exhaust
women’s work structure and development of feminine attitudes with respect to work happened in three distinct phases; the first ranging from 1760s to 1880s, the second ranging from 1880s to 1940s, while the third being the postwar era (McBride). While in the first phase, work
same time being inactive and wallowed up with corruption government and authorities relied mainly on the interests of the big business owners: “the presidents of this period were generally weak, pro-business, and never served more than one term in office” (SAT U. S. History,
2 pages (500 words)Essay
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