Inventors and Big Business Review
Directions: Under each complete the phrase, answer the question, fill in the blank, or define the definition.
Describe inventions of Edison and their effect on US: Edison Establishes his laboratory, in New Jersey with the backing of rich industrialist. Received over 1000 patents for his new invention
Describe inventions of other such as Bell, Bessemer, and Marconi: Bell invents the telephone, Marconi invents wireless telegraph which leads to radio, and Henry Bessemer develops steel which leads to skyscrapers and suspension bridges
Describe how big business tried to maximize profit:Corps worked to maximize profits by decreasing workers pay and some corps looked to form monopolies by driving all competitors out of business
Describe how Rockefeller and Carnegie changed big business in the US: Rockefeller used horizontal integration to maximize profits which meant he wanted to consolidate all firms in the same business making one giant company. Carnegie did basically the same thing but Vertical movement
Describe how the gov regulated big business: Congress created interstate commerce commission which investigated unfairness in railroad industry. Congress also passed Sherman antitrust act which prohibits any trust that acts in restraint of commerce, but took a long time to be enforced
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