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Rise of Industry
Transcript of Rise of Industry
(cc) image by jantik on Flickr
Alexander Graham Bell
an environment in which transactions between private parties are free from state intervention, including restrictive regulations, taxes, tariffs and enforced monopolies
owner or manager of a business enterprise who makes money through risk and initiative
In a vertically integrated industry, a company owns all parts of the industrial process. In this case, a steel company owns the iron and coal mines, the limestone quarries, and the ships and trains that move the materials, as well as the steel mills.
When one company grows by buying up its competitors, it is using horizontal integration
First Roller Coaster!
Captains of Industry
John D Rockefeller