Question

In the spaces below, list two ways in which John D. Rockefeller and Andrew Carnegie were similar

Answer 1

Consolidation and philanthropists. Both used systems of consolidation to increase their power and wealth. Carnegie used vertical consolidation meaning he bought companies that created all of the resources needed to create steel as well as raillines to move the steel. Rockefeller used hortizontal consolidation meaning he bought out rival companies until he owned all oil production in the country. Both men also used their wealth to give back to society. Carnegie donated money for libraries throughout the country as well as Carnegie Mellon University. Rockefeller donated to Rockefeller Center, the University of Chicago, and Rockefeller University.

Answer 2

Both started work at an early age.

Both learned important skills in their first jobs.

Both built monopolies in their industries.

Both wanted to remove their competitors.