E. Inventions Galore-Thomas Edison- largely self-educated. He invented the phonograph, light bulb. Manhattan Generated system revolutionized American life. He established The General Electric Corporation. Growing up he struggled in school, he was not allowed to go back to school because he was too smart. F. Cut-throat Competition-Volatility- federal monetary policies that remove money fromthe economy leading to a crisis. -An earlier great depression- The Gilded Age-Consolidation- to create mechanisms to help from destroyingone another. They established pools that established the price they would sell their goods for among big companies. The Trust was the leader would decide what to do and the companies would follow. 1897-1904 four thousand American Companies were taken and merged into bigger enterprises. The bigger Companies were global which made more capitol and helped them grow. This included U.S. Steel by J.P. Morgan in 1901, he merged 8 large steel companies into 1. There was also Standard Oil by Rockefeller. Business leaders had many freedoms and few rules. Thomas A. Scott was in charge of the railroads it allowed him to invest in coal mines,steam ships.