Correct. Andrew Carnegie softened the tenets of Social Darwinism by advocating philanthropy in "The Gospel of Wealth." Before his death, Carnegie gave nearly $300 million to charitable causes.
Technology, transportation, natural resources, and capital for investment were critical factors in the Industrial Revolution, but the human factor in managing these resources was also a key ingredient. With innovative thinking and entrepreneurship, the leaders of the Industrial Revolution forged an era that transformed America. This activity reviews prominent figures of the era and their influence on America during the process of industrialization.
InstructionsSelect the picture that correctly matches each statement.The Next button appears when you answer the question correctly.
Incorrect. Try again.
Select the i button before beginning the activity.
In "The Gospel of Wealth," I stated that a millionaire is "a mere trustee and agent for his poorer brethren."
Correct. Gould's search for profit through speculation led to a dramatic increase in railroad activity and created one of America's first big businesses.
Question 2 of 10
Although the railroads I bought often went bankrupt, my strategy of expansion and consolidation helped develop a vast railway system in the 1880s.
My eldest son inherited the New York Central Railroad and more money than was held in the U.S. Treasury in 1877.
Correct. When Cornelius Vanderbilt died at the age of 83, he was the wealthiest man in the country and had more money than the U.S. Treasury.
Question 3 of 10
I pioneered a new form of corporate structure called a trust, which gave me a virtual monopoly on the oil refining industry through horizontal expansion.
Correct. Rockefeller created the first trust by expanding horizontally to gain control of the refineries. He later expanded vertically to take control of crude oil sources along with transportation and marketing of petroleum products, giving Standard Oil control over most aspects of the oil business.
Question 4 of 10
I was a book that encouraged people to seek upward mobility.
Question 5 of 10
Correct. Horatio Alger's first book, Ragged Dick, supported the idea that with hard work, opportunity, and a little “pluck and luck,“ the less fortunate could escape poverty and achieve respectability.
Question 6 of 10
I was part of an industry that helped Cornelius Vanderbilt accumulate millions of dollars by the time he was in his mid-forties.
Correct. Cornelius Vanderbilt began his career by transporting goods and people across New York Harbor by steamboat. He later branched out into railroads, giving him tremendous influence in the transportation industry.
Question 7 of 10
Correct. Ida M. Tarbell's "History of the Standard Oil Company," published in McClure's Magazine, revealed the ruthless practices used by John D. Rockefeller to gain control of the oil industry. Her articles helped raised public awareness about the corrupt relationships between business and industry that led to the abuse of power by big business.
Ida B. Wells
Ida M. Tarbell
The series of articles I wrote for McClure's Magazine helped convince people that economic and political reforms were needed to curb the power of big business.
My invention by Thomas Edison intensified the growing division between rural and urban living.
Question 8 of 10
Correct. The brightly lit cities of the late nineteenth century contrasted sharply with rural America, most of which lacked electricity to power the lights.
J. P. Morgan
Acting as a banker and power broker, I created a model for corporate mergers that led to the development of industrial giants like General Electric and U.S. Steel.
Question 9 of 10
Correct. J. P. Morgan sought to eliminate competition by consolidating and reorganizing businesses. In this system of oligopoly, smaller companies followed the lead of larger competitors in setting prices and dividing the market.
Correct. Mark Twain attacked the “era of incredible rottenness“ in the late 1800s in his satire, The Gilded Age.Now that you have completed this activity, see if you can summarize the philosophies and/or business practices of prominent figures of the Industrial Era.
I satirized the corrupt relationship between business and government and the shallow values of the late 1800s in my book, The Gilded Age.