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outline_for_rise_of_big_business_lecture - obsessed with...

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RISE OF BIG BUSINESS AND THE “ROBBER BARONS,” ANDREW CARNEGIE & JOHN D. ROCKEFELLER BASIC FACTS ON EXPLOSION IN POST-WAR INDUSTRIAL PRODUCTION --changes in iron & steel industry, 1870-1900 RAILROAD COMPANIES: 1 ST MODERN CORPORATIONS --organizational structure of a large army --rise of “cautious” corporate managers “CUT-THROAT COMPETITION”: DESTRUCTIVE RATE WARS & RAILROAD REBATES --rooted in conditions of over-capacity & very high fixed costs CARNEGIE vs. ROCKEFELLER AS BUSINESSMEN: --Carnegie more at ease with competition & more uneasy with “industry-wide cooperation” (reverse for Rockefeller)
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--both practitioners of vertical & horizontal integration --both relentless in employing latest technologies; both
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Unformatted text preview: obsessed with maximizing cost efficiencies & driving down product price ROCKEFELLER’S REPUTATION AS THE MOST DESPISED MONOPOLIST--role of muckrakers (Ida Tarbell)--relevance of JDR’s religious views?? STORY OF THE SOUTH IMPROVEMENT COMPANY (winter-early spring 1871)--RRs provided 50% cost advantage to SIC refiners--from Jan.-April 1871, 21 of 26 Cleveland refiners sold out to Standard Oil A CLOSER LOOK AT CARNEGIE THE PHILANTHROPIST & “INDUSTRIAL STATESMAN” CARNEGIE’S AMBIVALENCE TOWARDS THE SOCIETAL BENEFITS OF INDUSTRIALIZATION “GOSPEL OF WEALTH” (1889)--millionaire’s right to accumulate vast fortune balanced by his obligation to arrange for socially useful disposition of surplus wealth...
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