The Rise of Big Business and Corruption

Stone tools

Water power

Steam power

Electric power

The right to buy and sell property

The right to sue in courts

The right to vote in elections

The right to print money

Horizontal integration

Vertical integration

Raising wages

Innovations in production management

A system of consolidating many firms in the same business

A system of controlling all stages of production

A method of increasing worker productivity

A strategy for reducing labor costs

Lower wages

Higher rent

Increased job security

Decreased productivity

Horizontal integration consolidates firms in the same business, while vertical integration controls all stages of production.

Horizontal integration increases labor costs, while vertical integration decreases them.

Horizontal integration is used only by small companies, while vertical integration is used by large companies.

Horizontal integration focuses on manufacturing, while vertical integration focuses on marketing.

High prices set by monopolies and cartels

Excessive government regulation

Too many small businesses dominating the market

Lack of technological innovation

Creation of the Interstate Commerce Commission

Passing the Sherman Antitrust Act

Establishing the Federal Reserve

Implementing the New Deal

Sherman Antitrust Act

Homestead Act

Dawes Act

Pendleton Act

Evenly divided party loyalties

Difficulty passing new laws

Close presidential elections

All of the above

Scandals involving high-level advisors

Successful economic reforms

Corruption among friends and acquaintances

Vice President implicated in a scheme

Electric power

Steam power

Communicating & storing information

Water power