Railroads, Big Business, and Inventions

This provided faster, more practical means of transporting goods, lowered production costs, created national markets, served as a model for big business, stimulated other industries

• The Railroad Industry

• The Steel Industry

• The Oil Industry

• Vertical Integration

Exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices

• Trusts

• Horizontal Integration

• Monopoly

• Phonograph

A Scottish-born American industrialist and philanthropist who founded his steel company in 1892. By 1901, his company dominated the American steel industry.

• Thomas Edison

• Andrew Carnegie

• J.P. Morgan

• J. Rockefeller

Perfected by Thomas Edison, this invention allowed factories to produce goods all day and night.

• Phonograph

• Light bulb

• Kodak Camera

• Radio

With the development of this invention by Samuel Morse, business could be more efficiently conducted between industrial centers in the East and their sources for raw materials in the South and West.

• Telegraph

• Light bulb

• Locomotive

• Phonograph