Critical Thinking 14-3

The tycoons of the late 19th century were seen by some as "ruthless robber barons," but others saw them as leaders of industry. While they were, in many cases, ruthless, they very effective at what they did. They used clever business strategies to weaken competition and strengthen their own businesses. These people made great contributions to the country's economy.
New and interesting strategies were used by big businesses at the time. These included vertical integration and horizontal integration. With verticle integration, a company would buy all of its suppliers, so that it would have control over everything it needed. Horizontal integration would be when a company buys all the companies that are similar to it, so it would not have any competition. This reflects the attitude of such businesses toward competition.
The tycoons made many important contributions to the economy. They created big businesses, which helped to make a successful market. These businesses also made production widespread and resources accessible. Railroad companies helped settlement and immigration, and companies often gave jobs to those who needed them.
While the leaders of big business were occasionally unfair to people like the farmers in the west, in the end they were very effective. It seems that ruthlessness is sometimes necessary in order to be effective in business. The contributions were certainly worth it though. Using new strategies and technology, big businesses industrialized the country.