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Monopolies and Robber Barons

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by

Tara Storm

on 2 October 2017

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Transcript of Monopolies and Robber Barons

Monopolies and Robber Barons
Monopoly:
company with complete control over the supply or trade of a commodity or service
Vertical Integration:
When a company expands its business into areas that are at different points on the same production path, such as when a manufacturer owns its supplier and/or distributor.
Horizontal Integration
:
The acquisition of additional business activities that are at the same level of the value chain in similar or different industries.
Laissez-Faire Capitalism
:
One of the guiding principles of capitalism, this doctrine claims that an economic system should be free from government intervention or moderation, and be driven only by the market forces
Robber Barons or Captains of Industry?
Robber Barons or Captains of Industry?
Directions:

1. Using a laptop, you are going to research six of the most infamous robber barons or captains of industry.
2. First figure out which industry they dominated.
3.Research reasons they were considered a captain of industry (successful and hard-working) AND a robber baron (greedy and abusive).
4. Fill in your table completely.

What is a monopoly?
Opener
Add the following to your table of contents:
Monopolies and Robber Barons: page 19
Robber Barons
Captains of Industry
Businessmen in the 19th century who engaged in unethical and monopolistic practices, abused political influence, and had enormous wealth.
Businessmen in the 19th century who are credited for their massive amounts of wealth and are seen as successful, hardworking, and dedicated leaders.
Same guys, different nicknames
But how can this be happening?
Monopolies existed because there was little to no government regulation.

As a result, large scale monopoly owners were wealthy and were able to practice harsh abuses to their laborers. They had a ton of political influence and were able to keep labor laws in their favor.
Grab a laptop and sign on!
Full transcript