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Glossary of American History-The Modern Era

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ENTREPRENEUR
A person who organizes and assumes risk of business.
C. LATHAM SHOLES
Inventor of the typewriter.
THOMAS ALVA EDISON
Inventor of the phonograph.
CORNELIUS VANDERBILT
Successful railroad consolidator.
CORPORATION
Company formed by a group of investors.
HORATIO ALGER
Author whose novels reflected the theme of hard work to succeed in business.
HOLDING COMPANY
A company whose only function was to own stock in other corporations.
TRUST
Business organizations formed when several companies gave control of their operations to a board of trustees.
HORIZONTAL INTEGRATION
Consolidation of firms in the same kind of business.
VERTICAL INTEGRATION
Consolidation of firms in different, but related activities.
JOHN D. ROCKEFELLER
Early leader of the oil industry who formed the Standard Oil Company.
REBATE
Form of discount.
IDA TARBELL
Journalist who exposed the ruthless methods of John D. Rockefeller.
ANDREW CARNEGIE
Entrepreneur in the steel industry.
SOCIAL DARWINISM
Philospohy that provided justification for the business practices of many industrialists.

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