Gilded Age Philosophies (Big Business)

During the ______Age, America appeared to be a land of opportunity where anyone could become wealthy. But in reality very few achieved this dream.

________________Integration is the acquisition of a business that operates in the same industry.

________is an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the government.

Example: You can choose your job and get as rich as you want, depending on how your work grows and flourishes.

__________Integration is the combination in one company of two or more stages of production normally operated by separate companies.

In other words, basically a company buys all of the other companies that are needed to make their product

With________ a government does not interfere in the workings of a free market; less regulation of business

In a ______________market the seller faces no competition, as he is the sole seller of goods with no close substitute.

_____________believe in “survival of the fittest”—the idea that certain people become powerful in society because they are innately better.

Andrew Carnegie wrote____________. He believed that the wealthy, who were chosen by God, should live modestly and then invest money into the community.

John D. Rockefeller got rich in the ______industry.

Andrew Carnegie got rich in the_________industry.