HIS271Y1 Study Guide - Final Guide: Nuclear Family, American Indian Movement, Tet Offensive
Document Summary
Essay question ii definitions: vertical and horizontal integration. What: vertical a process where and individual or company owns all process from the start to end = vertical intergration. bottom up approach, all different parts of businesses owned by one company. Horizontal - competing companies are combined under one company. When a business expands its control over similar businesses (monopoly) ex rockefeller controls 9/10 of oil in us by buying them out and consolidating under his banner. Significance: a minority of wealthy men were able to control a majority of the nations wealth and power, by being able to drive up and down the economy. J. p. morgan became the largest steel producer in the world (after buying carnigee steele) with more $ than the us guv. Gap between wealthy and poor becomes greater in this period, thus nationalized unions are created ex the knights of labour: knights of labor. Who: skilled and unskilled workers, blacks and women.
