The Late 1800's: Captain Of The Steel Industry

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During the late 1800's, industry began to prosper. Some, but very few, Americans became wealthy. Most Americans did not prosper. Andrew Carnegie was known as the "Captain of the Steel Industry". He was a Scottish immigrant who made his money in steel. John D. Rockefeller was the founder of the Standard Oil Trust. He made millions in the oil industry by buying up individual oil companies so he could control the entire industry. This resulted in the Sherman Anti-Trust Act. Trusts hurt the economy as a whole because it knocked out competition. When competition is gone, the company that is control can make the prices of the item what ever they want, making people have to pay more than

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