U.S. Hist: Modern week 4
U.S. Hist: Modern week 4 US History: Modern
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This 3 page Class Notes was uploaded by Madeline Mitchell on Friday February 6, 2015. The Class Notes belongs to US History: Modern at Kent State University taught by Dr. Hongshan Li in Winter2015. Since its upload, it has received 94 views. For similar materials see U.S. History: Modern Period in History at Kent State University.
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Date Created: 02/06/15
US History Modern Period week 4 Prof Honshang Li Kent State University Rise of Big Businesses 1 Big businesses began to emerge in the 1870 s 1900 s IThe bestknown ones were They had cutthroat competition mass production for higher profit and more resources required by new industries 0 Pool Gentlemen s business Merge of companies making same products Trust formed to run the business Rockefeller s Standard Oil Holding companies were set up Control firms making parts of a product Andrew Carnegie s steel empire 9 0 Increased output 0 Established monopoly 0 Increased wealth of a few Gilded Age Reduced liabilities Separated ownership form management Involved banks deeply Worsened wastes by mining lumber oil Made numerous workers and farmers poor 1 A different workforce 0 Workers grew fastest 885000 in 1860 0 32 million in 1890 0 Over 5 million in 1900 They were immigrants former farmers