THE RISE OF BIG BUSINESS essays

THE RISE OF BIG BUSINESS essays "The Business of the United States is Business," a great man once said. The United States has heralded around the globe for its incredible economic system. The growth of the United States started off small with minor discoveries and inventions, such as oil and electricity, and with those in place emergence of new technologies and innovations came underway. The railroads came about very slowly and became very popular. A man named Henry Bessemer came up with a way to make steel cheaply and efficiently (Bessemer Process). With the prices of steel dropping railroads were being built all across the nation. Major business tycoons, such as John D. Rockefeller and Andrew Carnegie, took advantage of the demand for oil and steel and started their own companies and later developed a monopoly in their own area of business. New laws and business practices were also enforced. These topics will be addressed in the following pages. Common in all industries was the consumption and high use of electricity. The United States strived to find a cheap and efficient source of electricity to power its companies. Oil and the invention of the dynamo greatly aided industries need for power. Edwin Drake (a railroad conductor) was the first to drill for oil. Edwin Drake made quick profits and many others followed his path. There were many uses for oil, which became very useful and cost-effective. Oil was used to lubricate machinery parts and later became a major part in the internal combustion engine. This engine later made the emergence of automobile possible. Large-scale use of electricity was not fully tapped until about the mid 1800's. Michael Faraday and Joseph Henry invented an invention called the dynamo. The dynamo produced enough electricity to run factories from the use of steam, and water. With electricity fully understood Thomas Edison began his work. Thomas Edison made more than a thousand different inventions in his...