Their way on the way to the top 26 standard oil pg

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their way on the way to the top 26. Standard Oil (pg 542): the name of the trust organized by John D. Rockefeller in 1882. Based in Cleveland, Ohio, Standard Oil was the result of Rockefeller's repeated use of horizontal integration with a "rule or ruin" attitude. Under Rockefeller's leadership, Standard Oil came to control 95 percent of all the oil refineries in the country and 90 percent of the entire world's supply of petroleum. The seemingly corrupt and unfair monopoly created by the trust known as Standard Oil ultimately became one of the driving points for legislation against trusts. 27. JP Morgan (pg 541): Otherwise known as J. Pierpont Morgan or "Jupiter" Morgan, this man had a legendary reputation for himself and his Wall Street banking house by financing the reorganization of railroads, insurance companies, and banks. Indeed, some would dub him the "banker's banker" because of his immense influence in the banking realm. While he stated to believe in integrity and refused to allow power to slip into the hands of others who might not be honest, it was ironic that he watered stocks for his own benefit. He purchased Carnegie's possessions in the steel industry after the steel magnate threatened to ruin Morgan in his pursuit of the steel pipe tubing industry. Morgan ultimately combined this purchase with others to form the enlarged United States Steel Corporation. 28. Gospel of Wealth (pg 543): the idea that because certain individuals had been given wealth by God, these same individuals had the responsibility to distribute these riches among those who are less fortunate so that they too may enjoy the riches of this wealth. This belief was practiced by Andrew Carnegie who gave away most of the wealth that he had acquired in the steel industry for philanthropic causes. Carnegie felt it would be a "disgrace" if he died with so much wealth left unused on fixing social problems. However, not many others shared this same view as many came to believe that the poor had brought their situation upon themselves and thus, no pity should be given to them because they just had not "pulled themselves up by the bootstraps."
29. Social Darwinism (pg 543): The belief that evolution principles and survival of the fittest could be applied to human society to explain the discrepancy in classes. Proponents of this theory were often wealthy and claimed that they were the fittest because they had been able to acquire large amounts of wealth. On the other hand, the poor deserved the situation they were in because they were just lazy people that were unfit for being on top. Thus, these people had little to no sympathy for the poor and were not quick to give to philanthropic causes that would benefit these groups. This belief was in contrast to that of the Gospel of Wealth, which stated that wealthy people should share their money with everyone so that all may reap the benefits.

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