| A | B |
|---|
| Rockefeller | He vertically integrated in the oil industry. His Standard Oil Corp. controlled 98% of the oil refining capacity in the U.S. |
| Carnegie | Entrepreneur in the steel industry sold his company to JP Morgan in 1901 |
| Pullman Strike | One of many strikes during the late 1800’s. President Cleveland ordered these railroad workers back to work and sent in Federal troops to insure the strike ended |
| Morgan | Banking giant who owned who refused to loan the U.S. money because they lacked collateral |
| Vertical Integration | Owning the means of production for your company all the way down the line to include your suppliers and transportation. |
| Horizontal Integration | Buying out your competitors |
| Sherman Anti Trust Act | U.S. law that made it illegal to combine companies that interfere with trade |
| Social Darwinism | Philosophy of only the strong survive, survival of the fittest, that justified Robber Barons large income. |
| Wobblies | Radical workers union that believed all workers should unite as one class, they were also known as the IWW |
| Oligopoly | Small group of companies that control over 60% of the industry |
| Collective Bargaining | This was used by unions to increase wages and improve working conditions |
| Gospel of Wealth | “Not evil, but good, has come to the race from the accumulation of wealth by those who have the ability and the energy that produces it.” |
| Means of Production | Land, Labor, Capital, Entrepreneurship |
