Henry Ford monopolized oil industry, his company, “Standard Oil Company”, would either force a competitor out of business or buy it out.
This was a ruthless tactic, he used horizontal integration to buy up competitors, and drove them out of business, that is why he received the nickname "Reckafellow".
Carnegie switched from railroading to become the master of the steel industry with the U.S. Steel Corporation. He used vertical integration. This company became dominate in steel largely because of his administrative abilities and hired excellent people.
<span>What Tucker means when he says this is that the problem is not how to fix the current problems with the economic system. The problem is that we have a system that allows for this sort of inequality in the first place. Rather than seeking to bandage the problem we should look at the systemic issues and how it was allowed to become so unevenly distributed in the first place.</span>
They were both autocratic ruled by emperors who wielded absolute power.
Both were underdeveloped industrially compared to major western powers, with agrarian based economies at the beginning of the 20th century.
Both had dynasties that had ruled their respective empires since the 17th century. <span />
Answer:
The population and social structure of the 18th and 17th centuries changed.
Explanation:
In the beginning, the idea of establishing colonies in the New World based on economic grounds. Settlers from England began to come to avoid prosecution because of there religious practices. The tobacco plantation led in the coming of the white indentured servants in colonies. Servants required to reduce the burden from the settlers. White indentured servants became common during the early settlement.
During the 18th century, there was a sharp rise in the population. There was an increased mingling of different races. People from Africa shipped in American colonies as labours and servants. The South became dependence on slaves for plantation. People from Europe also arrive to start a new life from the beginning.
