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They made deals with wealthy businessmen (became corrupt)
Became crucial to the U.S. economy Legislation
Legislation Interstate Commerce Act of 1887 – put in place for Govt to supervise railroad activities
Led to more financial problems (railroads were forced out of business, which led to the Panic of 1893) This caused the Large Firms to start buying up the railways, which paved the way for Big Businesses Industrialization Factors
Industrialization Unskilled and semiskilled labor in abundance
New, talented entrepreneurs Oil Inventions New technology that allows mass production
Bessemer Process Railroads
Changes in business strategy Vertical Integration & Horizontal Consolidation
Social Darwinism The Re o rg anizatio n o f
Wo Frederick W. Taylor The Principles of Scientific Management (1911) The Re o rg anizatio...
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This note was uploaded on 11/22/2011 for the course EL ED 365 taught by Professor Brothermercier during the Fall '11 term at BYU.
- Fall '11