Chapter+6-2.+The+Rise+of+Big+Business

Chapter 6-2: The Rise of Big Business

Key Terms:
 * Capitalism: economic system where private businesses run most industries, and competition determines how much goods cost and workers are paid
 * Free Enterprise: where economy would prosper if business were left free from gov. regulation and allowed to complete in a free market
 * Communism: Marx theory that new society could run on individual ownership of property should not be allowed
 * Social Darwinism: English social philosopher Herbert Spencer
 * Corporation: business organization, raises money by selling shares of stock or certificates of ownership in the company
 * Vertical integration: required companies that provided the materials and services upon which his enterprises depended
 * Horizontal Integration: company's control of other companies producing the same product

Key People:
 * Horatio Alger Jr.: published a popular series of novels that reflected in the increasing importance placed on individualism
 * Andrew Carnegie: urged people to invest in stocks
 * John D. Rockefeller: business career of tycoon, one founder of the standard oil company
 * Cornelius Vanderbilt" was a pioneer of the railroad industry
 * George Pullman: designed a manufactured railroad cars that made long-distance rail travel more comfortable

Key Events: A New Capitalist Spirit The Corporation Carnegie and Steel The Railroad Giants
 * Capitalism: economic system where private businesses run most industries, and competition determines how much goods cost and workers are paid
 * Free Enterprise: where economy would prosper if business were left free from gov. regulation and allowed to complete in a free market
 * Horatio Alger Jr.: published a popular series of novels that reflected in the increasing importance placed on individualism
 * Communism: Marx theory that new society could run on individual ownership of property should not be allowed
 * Corporation: business organization, raises money by selling shares of stock or certificates of ownership in the company
 * Andrew Carnegie: urged people to invest in stocks
 * Vertical integration: required companies that provided the materials and services upon which his enterprises depended
 * John D. Rockefeller: business career of tycoon, one founder of the standard oil company
 * Horizontal Integration: company's control of other companies producing the same product
 * Cornelius Vanderbilt" was a pioneer of the railroad industry
 * George Pullman: designed a manufactured railroad cars that made long-distance rail travel more comfortable