American industrialist practices

Definition

American industrialist practices refer to the business strategies and methods employed by wealthy entrepreneurs during the late 19th century in the United States. These practices involved monopolistic control, ruthless competition, and exploitation of labor to maximize profits and consolidate economic power.

Related terms

Robber Barons: Referring to powerful industrialists who used unethical business practices to accumulate immense wealth.

The Gilded Age: Describes the period in U.S. history characterized by rapid economic growth alongside social inequality.

Vertical Integration: A strategy employed by industrialists where they controlled every step of production, from raw materials to distribution, in order to eliminate competition and increase profits.