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7 Cards in this Set

  • Front
  • Back
Thomas Edison
1. Invented the light bulb - now people can work longer, get more done.
2. One of Americas causes of "industriolization".
Alexander Graham Bell
1. invented phone and wireless telograph
2. one of Americas causes of "industriolization"
Laizzez Faire Definition
1. to let be
2. leave alone
3. gov. should not interfere in buniness and industry
Laizzez Faire (negative and Positive)
1. Neg-high prices, bad living conditions, unsafe work environments, low wages
2. Pos-expansion can happen very rapidly (railroads)
Andrew Carnegie (Business)
1. eyecon of steel development-Carnogy Steel Co.
-became so successful, others wanted to take over and make his company better
-sold his business for $1.5 Billion (Bill Gates of his Time
2. Scottish immigrant
3. Made steal out of iron-much stronger
Andrew Carnogy
1. mindset "Gospel of Wealth"
-got wealthy through hard work, but it was blessing from God
-if it is a gift, I should share it
2. Great Falantropist
-set aside tons of money to build libraries throughout the U.S.
-wanted to establish something that would go well into the future and would help people help themselves.
John D. Rockefeller
1. Standard Oil Company
2. Vertical Monopily-buy land that has oil, own oil wells, own trucks to get oil to refinery, own refinery, own shipping to gas station, own gas station
3. can minipulate prices to make other business owners sell out-Rockefeller buyes them