Industrialization in the Gilded Age

An economic practice where the government does NOT try to control the economy.

• Gospel of Wealth

• laissez faire

• Social Darwinism

• horizontal integration

The belief that the rich were chosen by god to be rich and should therefore share their wealth.

• Gospel of Wealth

• laissez faire

• capitalism

• Social Darwinism

a belief that the rich are wealthy because they are strong and the poor are weak

• Social Darwinism

• Gospel of Wealth

• laissez faire

• monopoly

the control of an entire or most of an industry by one company

• laissez faire

• capitalism

• monopoly

• patent

When a company controls everything from raw materials to the distribution of the product

• horizontal integration

• vertical integration

• trust

• monopoly

In which industry did Andrew Carnegie earn his fortune?

• steel

• railroad

• gold

• oil

Which industry did Rockefeller dominate?

• oil

• steel

• communication

• railroad

When a combination of companies control an industry to reduce competition

• monopoly

• trust

• laissez faire

• patent

a cause of industrialization

• civil war

• immigration

• natural resources

• all of the above

an effect of industrialization

• urbanization

• growth in economy

• political corruption

• all of the above