Rise of Big Business

Term Definition
Capitalism an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
Free Enterprise the practice of free enterprise in an economy, or the right to practice it.
Communism a theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state.
Social Darwinism States that society progresses through competion, with the most competive rising to positions of wealth and power.
Corporation A company that sells stock to investors in order to raise money.
Vertical Integration
Horizontal Integration
Cornelius Vanderbilt
George Pullman
Horatio Alger Jr.
Andrew Carnegie
John D. Rockefeller