13 •Influenced the growth of the U.S. economy during the late 19thcentury, which led to economic domination by business trusts. EX: Standard Oil Trustwas intended to control pricesand practices in oil refining. Rise of Big Business (1865-1900) Federal Government followed laissez-faire economic policy. Trusts and monopolies were created by entrepreneurs to maintain control of the market. Robber Baron- Term used during the Gilded Ageto characterize leaders of big businesswho used ruthless tacticswhen dealing with competitors. Ex: John D. Rockefeller, J.P. Morgan, Cornelius Vanderbilt. Gilded Age- Mark Twainlabeled the late 1800’s the Gilded Ageto describe the extremes of wealth and poverty (big differences between the rich and the poor). Urbanization- Rural (countryside) residents move to urban (inner city) areas in search of jobs. Size of cities increase. •Caused by industrialization. •How the Other Half Lives- Book by Jacob Riisthat exposed the living conditions of urban slums (working-class, inner-city neighborhoods). Exposed the desperate lives of poor people to the general public in the U.S. •Urban middle class increased the most as a result of the Industrial Revolution. •Working Conditions -Rapid industrial growth leads to shiftfrom rural to urban lifestyle, widespread use of child labor, and growth of tenements & slums (overcrowded inner city neighborhoods located near factories).