HIST 222 Lecture Notes - Lecture 5: Standard Oil, John Pierpont, Wright Brothers
Document Summary
Life in industrial america / immigration (part 1) Introduction: 1870-1917 was one of the intense urbanization, industrialization, technological advances and large scale immigration, rise of robber barons as well as industrial and technological giants. Economic expansion: american expansion, both territorially and demographically, was diving by the. Railroad: this was america"s first big business . When he died at 56, his fortune was worth more than million: cornelius vanderbilt: was the great consolidator of eastern railroads. His company controlled 2/3 of the nation"s railroads: john pierpont morgan: an organizer who first brought order to the railroads and then to the steel industry, entrpreneurs organized giant corporations. For example: john d. rockefeller: built the standard oil company, which by 1879 controlled. 95% of the oil refining: andrew carnegie: consolidated the american steel industry. Doctrine of wealth which said that these captains of industry actually promoted the public good.
