Robber Barons vs. Captains of Industry: The Gilded Age Insights

What is the central question posed about the industrialists of the Gilded Age?

• Should they be considered philanthropists or misers?

• Should they be considered heroes or villains?

• Should they be considered captains of industry or robber barons?

• Should they be considered innovators or imitators?

Where did Andrew Carnegie immigrate from?

• Scotland

• Ireland

• Germany

• England

What process did Carnegie adopt to improve steel production?

• Electric arc process

• Siemens-Martin process

• Open-hearth process

• Bessemer process

What is vertical integration?

• Setting prices below competition

• Merging with other companies

• Owning all levels of production from raw materials to finished product

• Owning all businesses in a particular industry

What was the result of Carnegie's business practices by 1900?

• He was known for his fair treatment of workers

• Carnegie Steel became the largest corporation in the world

• He became the captain of the Titanic

• He owned 90% of the oil refineries

What was the name of the company formed after the merger of Carnegie Steel and Federal Steel?

• Standard Oil

• US Steel

• General Electric

• American Steel

What industry did John D. Rockefeller dominate?

• Railroads

• Automobiles

• Steel

• Oil

What was the name of Rockefeller's company?

• American Oil

• Federal Oil

• Rockefeller Oil

• Standard Oil

What business strategy involves merging competing companies into one giant corporation?

• Cost analysis

• Horizontal integration

• Price fixing

• Vertical integration

What philosophy did many business leaders of the Gilded Age believe in regarding government regulation?

• Keynesian economics

• Socialism

• Communism

• Laissez-faire