bakadoo

Industrialization

An economy that changes from mostly farming to manufacturing

Laissez faire

Hands-off approach towards business by the government

John D Rockefeller

Bought many other oil refineries

Made secret deals with railroads to carry his oil at a lower rate

He built pipelines to carry his oil

Robber baron

Robber barons were greedy mean corrupt industrialists who were often rich for unethical business practices

Captain of industry

Tycoons, leaders of a specific industry

Gilded age

1860-1890 industrial period a time when industrialists of tycoons became very rich at the expense of poor workers

Ida Tarbell

Muckraker wrote the history of standard oil describing JDRS unethical buisness practices

Corporations

A buisness owned by investors who buy part of the company through shares of stock

Muckraker

Expose the problems of industrial era

Philanthropists

People who give large amounts of money to charities

JP Morgan

Banking industry robber baron

More money than the us gov

Bailed out gov with loans

Andrew Carnegie

Steel industry (monopoly)

Controlled the whole process to make steel vertical integration