Chapter 4.2 Review
Explain why American industrialists of the late 1800s were called both “robber barons” and “captains of industry”.
Describe Carnegie’s belief of the “gospel of wealth” and the theory of social Darwinism.
Explain the ways industrialists gained a competitive edge over their rivals and the effect big business had on American Society.
Captains of Industry vs Robber Barons- Make a two column chart and list ways that industrialists of the late 1800 fit either definition.
Captains of Industry Robber Barons
Monopolies, Cartels, and Trusts
Define Monopoly and explain how cartels and trusts can be used to create a monopolistic situation.
How effective was the Sherman Antitrust Act? Why/Why not?
Explain how John Rockefeller used horizontal consolidation to achieve a monopoly.
Explain how Andrew Carnegie used Vertical Consolidation to achieve a monopoly.