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How did American industrial leaders earn great wealth during the late 1800s?
Wiki User
∙ 6y ago
During the late 1800s, American industrialists got wealthy by creating monopolies and setting up trusts. The effectively kept all the wealth in the hands of a very small number of people because there was no competition.
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoThe leading industrialists transformed American business through the creation of monopolies and conglomerates. Cornelius Vanderbilt controlled the railroads, John D. Rockefeller controlled oil, J.P. Getty controlled banking, and Andrew Carnegie controlled steel. They argued that their vast control over most aspects of their industries was good for consumers. Lawsuits and the breakup of their monopolies showed that to not be the case. From that point on, the idea of monopoly has been fought in law, and in court. Businesses today can no longer operate as they used to at the end of the 19th century.
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How did industrial leaders accumulated wealth during the late 1800s?
During the late 1800s, American industrialists got wealthy by creating monopolies and setting up trusts. The effectively kept all the wealth in the hands of a very small number of people because there was no competition.
What was the name given to the riches leaders of industry in the late 1800s?
During the late 1800s, American industrialists got wealthy by creating monopolies and setting up trusts. The effectively kept all the wealth in the hands of a very small number of people because there was no competition.
Where was the Gospel of Wealth by Andrew Carnegie published?
It was published in the North American Review in 1889.
Accordimg to historians substantial wealth became concentrated in the hands of fewer people during the late 1800s Which of the following is poften givin as a cause for this concentration of wealth?
Growth of big business is given as a cause for the concentration of wealth in the 1800s.
Why was the Lowell system an important U.S. industrial innovation in the early 19th century?
There are actually a couple factors innovating the success of Lowell Mills. These would be Wealth, American made products (cotton), a surplus in all labor at the time (African American and Irish), transportation, and government backing.
How did industrial leaders accumulated wealth during the late 1800s?
During the late 1800s, American industrialists got wealthy by creating monopolies and setting up trusts. The effectively kept all the wealth in the hands of a very small number of people because there was no competition.
How did American industrial leaders accumulate during the late 1800s?
During the late 1800s, American industrialists got wealthy by creating monopolies and setting up trusts. The effectively kept all the wealth in the hands of a very small number of people because there was no competition.
How did American industrial accumulate wealth during the late 1800?
During the late 1800s, American industrialists got wealthy by creating monopolies and setting up trusts. The effectively kept all the wealth in the hands of a very small number of people because there was no competition.
What 3 factors helped make the US grow into an industrial power?
A wealth of natural resources, the onset of the Industrial Revolution in America, and the hard work, and inventiveness of the American people.
What was Gospel of Wealth during the industrial revolution?
The wealthy proclaimed that they were justified by God to have so much wealth. They claimed that God gave them their money or they were a product of natural selection. This idea was boasted by Andrew Carnegie.
How did the industrial growth affect the distribution of wealth in the US?
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What was the name given to the riches leaders of industry in the late 1800s?
During the late 1800s, American industrialists got wealthy by creating monopolies and setting up trusts. The effectively kept all the wealth in the hands of a very small number of people because there was no competition.
Did the Industrial Revolution increase the power and wealth of factory owners?
yes
Why did the Spanish leaders keep plantations?
They kept plantations to accumulate wealth.
How did other countries American colonies differ from Spain?
american colonies envied wealth and power from Spain.Spain had wealth other countries' colonies didnt
What effect did the industrial revolution have on urbanization?
The Industrial Revolution brought about changes in material production, wealth, population distribution and labor patterns.
What effect of the industrial revolution?
many manufacturers and traders men enjoy wealth
