Natural Resources America had tons of natural resources Natural resources were used to generate huge profits by new American businesses

America had tons of natural resources

Natural resources were used to generate huge profits by new American businesses

Laissez – Faire Capitalism Gov’t should not interfere with private businesses Businesses took advantage of people and abused workers’ rights Businesses did “anything to turn a larger profit”

Gov’t should not interfere with private businesses

Businesses took advantage of people and abused workers’ rights

Businesses did “anything to turn a larger profit”

Special Business Considerations Gov’t granted special privileges to business owners Gave free land to railroad owners by stealing it from rightful owners

Gov’t granted special privileges to business owners

Gave free land to railroad owners by stealing it from rightful owners

Immigration Immigrants increased the labor supply Businesses paid immigrants as little as possible in order to generate huge profits

Immigrants increased the labor supply

Businesses paid immigrants as little as possible in order to generate huge profits

Monopoly One business owner controls the whole market of a product Drives other competitors out of business to raise their prices

One business owner controls the whole market of a product

Drives other competitors out of business to raise their prices

Trusts One company controls the making of a product Allows company to control the price of the product

One company controls the making of a product

Allows company to control the price of the product

Corporation Large companies made up of smaller businesses Limited Liability Allowed people to invest money with little risk

Large companies made up of smaller businesses

Limited Liability

Allowed people to invest money with little risk

Robber barrons Wealthy business owners who lied, cheated, and stole fortunes from average Americans

Wealthy business owners who lied, cheated, and stole fortunes from average Americans

Captains of Industry Smart businessmen who earned their money through legal business practices Gave millions of dollars to charity

Smart businessmen who earned their money through legal business practices

Gave millions of dollars to charity

Andrew Carnegie Scottish Immigrant Created US Steel first corporation worth $1 billion dollars

Scottish Immigrant

Created US Steel

first corporation worth $1 billion dollars

Andrew Carnegie Believed in Social Darwinism people can whatever they want to make money

Believed in Social Darwinism

people can whatever they want to make money

Andrew Carnegie Gave 80% of his money back to the public Workers protested working conditions in his factories

Gave 80% of his money back to the public

Workers protested working conditions in his factories

J. P. Morgan Banking tycoon who made millions off of investments and investment companies

Banking tycoon who made millions off of investments and investment companies

John D Rockefeller Created the Standard Oil Company in 1870 (trust) Able to control the price of oil in America by owning all aspects of oil production

Created the Standard Oil Company in 1870 (trust)

Able to control the price of oil in America by owning all aspects of oil production

John D Rockefeller Gave $500 million dollars to various charities

Gave $500 million dollars to various charities

Cornelius Vanderbilt Made a fortune in the railroad business Introduced the use of steel rails and a standard gauge (distance between rails).

Made a fortune in the railroad business

Introduced the use of steel rails and a standard gauge (distance between rails).