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The industries of steel, oil, and iron transformed America's industrial development at an extrordinary pace after the Civil War. Its remarkable growth led to the expansion of markets, advancements in technology, farm production, transportation, technology, communications, and much more. The abundance of developmental change offered econmic growth and an increase in employment, making it a better living for people.
The government officals seemed to have most of the control over this transformation. The government gave resources such as land and money to promote economic growth. The railroad, is one example of how much success the government grants brought to economy.
These changes were not always positive in dealing with the railroad grants. The land and cash that was given from the government was sometimes used wastefully. People wanting to profit quickly would separate their construction companies with hardly any regards for traffic coming through their region. Not to mention that many of these grants caused the destruction of Indian life. Much of the land that was pledged to the Indians was taken away and used for railroad grants.
Henry Demarest Lloyd was against the "Lords of the Industry" because of the way that people would destroy small businesses. In effort to become the top company, owners of businesses would gain a higher profit by increasing their prices on their goods. Thus, making it harder for smaller businesses to compete.
Lloyds accusations in 1884 was supported by the readings in our text about Rockerfeller. Rockerfeller went to every extreme to become the top in his industry. He used harassment, extortion, bribery, and even lower prices to destroy his competetion. By doing this he was able to accomplish triumph over his competetion and took over the oil industry.
The techniques used by Rockerfeller, are not of good morals, but is the way you have to play the game if you want to succeed and have a successful business.
