Vertical and Vertical and Horizontal Horizontal MergersMergersAndrew CarnegieAndrew Carnegie

John RockefellerJohn Rockefeller

J.P. MorganJ.P. Morgan

Production of steelProduction of steel

Mining natural resources such as Mining natural resources such as iron ore, coke, copperiron ore, coke, copper

Transport of resources to factoryTransport of resources to factory Bessemer process to develop steelBessemer process to develop steel Transport of steel to market for saleTransport of steel to market for sale

Andrew CarnegieAndrew Carnegie

Owned every aspect of his steel Owned every aspect of his steel productionproduction

The mines that produced the iron The mines that produced the iron oreore

The ships that carried it from the The ships that carried it from the UP to docks at Erie, PennsylvaniaUP to docks at Erie, Pennsylvania

The rails that transported it to his The rails that transported it to his steel millssteel mills

The steel mills in PittsburgThe steel mills in Pittsburg

Production of oilProduction of oil

DiscoveryDiscovery RetrievalRetrieval Transport to refineryTransport to refinery Refining into usable componentsRefining into usable components Transport to markets for saleTransport to markets for sale

John D RockefellerJohn D Rockefeller Purchased refineries to turn crude oil Purchased refineries to turn crude oil

into keroseneinto kerosene Purchased miles and miles of pipelinePurchased miles and miles of pipeline Built and owned most oil cars used for Built and owned most oil cars used for

transportation of crude oil to transportation of crude oil to refineriesrefineries

Social DarwinismSocial Darwinism

Belief that all men really aren't Belief that all men really aren't created equalcreated equal

Some are destined for wealth and Some are destined for wealth and fame others just to be workersfame others just to be workers

The rich will prevail and the poor The rich will prevail and the poor will eventually benefit from more will eventually benefit from more jobs, benevolent donations, etc from jobs, benevolent donations, etc from the richthe rich

Rockefeller practiced horizontal Rockefeller practiced horizontal consolidation to create his monopolyconsolidation to create his monopoly

Practice of many businesses in the Practice of many businesses in the same industry being joined together.same industry being joined together.

A trust is simply many business A trust is simply many business being run by a board of directors, being run by a board of directors, incidentally Rockefeller controlled incidentally Rockefeller controlled these board members.these board members.