This document discusses the rise of big business in the late 19th century United States. It describes how industrialists like Andrew Carnegie in steel and John D. Rockefeller in oil amassed huge fortunes by integrating their companies both vertically and horizontally to dominate their industries. Their success contributed to the ideas of social Darwinism and that government should not regulate business, though some viewed these businessmen critically as "robber barons." It also outlines the formation of labor unions to advocate for workers' rights and better pay and conditions in response to big business.

1. Unit 5- A New Industrial Age

2.  I. Big Business began to control the U.S economy
and industry
 A. Andrew Carnegie- Made a fortune ($298B)
in steel

3.  1. Vertical Integration- Buying a company’s
suppliers
 2. Horizontal Integration- Buying a
company’s competition
 * Carnegie was able to control almost the
entire steel industry

4.  B. John D. Rockefeller- Made fortune ($318B)
from Standard Oil
 - Kept oil prices low (by paying very low
wages) to put competition out of business,
then jacked up the prices

5.  C. Both were philanthropists- Rich people that
gave a lot of money away to charities,
foundations, and the poor

6. Vertical Integration
NIKE
Leather Co.
Thread Co.
Rubber Co.
Trucking Co.
Shoelace Co.
Sneaker Stores

7. Horizontal Integration
Puma NIKE Adidas ReebokAsicsConverse New Balance

8.  D. Social Darwinism- Came from Charles
Darwin, some people are born smart and
successful and some are not (biology)
 - People thought that government should not
control business

9.  E. Some saw these men as Captains of
Industry and others as “Robber Barons”

10.  F. Sherman Antitrust Act (1890)- Made it
illegal for companies to form either:
 Trust- A large company that controls many
others
 Monopoly- A company that controls the
entire market of a product

11.  II. Labor Unions- groups of workers that fight for
their rights

12.  Fought for:
 1. Better pay
 2. Safer working conditions
 3. Vacation time
 4. Sick leave
 5. Worker’s compensation (injuries on the job)
 6. Less exploitation

13.  Unions negotiated with company owners for
these things
 Unions would often strike to get what they
wanted