Industrial Titans
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Last updated 5:50 AM on 1/29/26
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7 Terms
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Andrew Carnegie
Steel magnate; used vertical integration; promoted "Gospel of Wealth"
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John D. Rockefeller
Oil monopolist (Standard Oil); used horizontal integration
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J.P. Morgan
Banker who formed U.S. Steel; bailed out U.S. during panics
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Gospel of Wealth
Carnegie's idea: rich should give wealth away (justified inequality)
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Vertical vs. Horizontal Integration
Vertical = control all production stages; Horizontal = buy competitors
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Social Darwinism
"Survival of fittest" applied to society; justified wealth inequality
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