THE RISE OF BIG BUSINESS
"The Business of the United States is Business," a great man once said. The United States has heralded around the globe for its incredible economic system. The growth of the United States started off small with minor discoveries and inventions, such as oil and electricity, and with those in place emergence of new technologies and innovations came underway. The railroads came about very slowly and became very popular. A man named Henry Bessemer came up with a way to make steel cheaply and efficiently (Bessemer Process). With the prices of steel dropping railroads were being built all across the nation. Major business tycoons, such as John D. Rockefeller and Andrew Carnegie, took advantage of the demand for oil and steel and started their own companies and later developed a monopoly in their own area of business. New laws and business practices were also enforced. These topics will be addressed in the following pages.Common in all industries was the consumption and high use of electricity. The United States strived to find a cheap and efficient source of electricity to power its companies. Oil and the invention of the dynamo greatly a
Chernow, Ron "The Monopoly That Went Too Far" Business Week, May 18 1998 v342 p64 Several more transcontinental railroads were built before the end of the century, all by large corporations. Every decade brought increased standardization. In addition, labor unions were developed to protect the rights of the workers. As companies grew larger, they began to take over other related fields. Soon, large trusts were formed that controlled many aspects of both the economy and society. As more and more areas became controlled by the railroad industry, it became clear that regulation was impossible to avoid. The standard gauge was then made and put into place. The standard gauge set a certain distance between the rails of the railroad track, which made it possible for all trains to share the same tracks. The High Points in Carnegie's Life Include:
Some common words found in the essay are:
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Approximate Word count = 3049
Approximate Pages = 12 (250 words per page double spaced)
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