28 - -4 Separation of Ownership/management Owners don't...

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1/28 national market expert electricity wage earner telephone laboring class bessemer process managerial class -steel business elite American Dream -robber barons -prosperity Rockefeller -personal liberty Standard Oil -"don't tread on me" Monopoly corporation Exxon -bureaucracy Esso -vertical integration -distribution network -ownership/management -Create a national market , and prosperity will connect everyone -north created railroad networks that could transport people quickly -north had used the telegraph during the civil war - Bessemer Process a way to make steel stronger -Before the civil war, the American Dream was to be left alone- after this is combined with prosperity. -Capitalism can't survive without stability, because it relies on what we think something is worth -CORPORATIONS: 1) Corporations have bureaucracy , everyone has an assigned job in a hierarchy 2) Vertical integration --raw materials, production, distribution 3) Distribution Networks
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Unformatted text preview: --4) Separation of Ownership/management-- Owners don't manage anymore-Creation of the expert or professional manager-Wage earner-Before civil war, everyone labored, after-creation of a managerial class-Phenomenally wealthy business elite-Rober Barons created industry from the ground up and became RICH-John D. Rockefeller created Standard Oil in the 1880s-Had a vision of gaining great wealth and doing great deeds for others-Standard Oil streamlines so well it controls 90% of the oil in US-Rockefeller believed he was doing the greatest amt. of good for the most people-Creates lower prices for consumers, but destroys a number of towns-1900 Rockefeller most hated man in America-Rockefeller begins to give his money to high profile society benefiting organizations-Standard Oil changed its name to ESSO-ESSO changed its name to Exxon-Rockefeller richest man alive when he dies-...
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28 - -4 Separation of Ownership/management Owners don't...

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