AP US History in 1 Minute Daily: Building Industrial Empires (Day 182/309)

Hey APUSHers, let’s chat about Building Industrial Empires as part of my series- APUSH in 1 Minute Daily!

Let Them Have It All And Be Done With It, Wikimedia Commons

Changes in the U.S. economy during the late 19th century was particularly evident through the building of industrial empires, especially in railroads, steel, and oil.

“The Modern Colossus of (Rail) Roads,” Wikimedia Commons

Railroad tycoons like Cornelius Vanderbilt amassed fortunes by consolidating smaller lines into vast systems. This monopolization of transportation routes allowed them to control prices and charge high freight rates.

“A Trustworthy Beast,” Weber State University

Andrew Carnegie dominated the steel industry, employing vertical integration to control production from raw materials to finished goods. The sale of Carnegie Steel made him one of the richest men in history.

“Next,” Yale University

John D. Rockefeller, through Standard Oil, employed horizontal integration, acquiring oil refineries, pipelines, and distribution networks to monopolize the industry. Standard Oil's efficiency, control over prices, and strategic business tactics were then copied in several other industries.

The growth of industrial empires transformed the American economy as they wielded immense power fueling debates about monopolies, competition, and the role of government in regulating business.

Join me tomorrow as I explain Captains of Industry v. Robber Barons in the next APUSH in 1 Minute Daily!