Cradle of American Capitalism
The French terminology Laissez Faire translates “Allow to do”. It is a doctrine opposing governmental interference in economic affairs beyond the minimum necessary for the maintenance of peace and property rights. Nevertheless, the corruption behind those who proclaimed to practice such basics was evident in America between 1860 and 1900, or the so-called “Industrial Revolution”. A time in which capitalists such as Vanderbilt, Carnegie and Roosevelt imposed the exploitation of their workers with government assistance. Many believed in “Social Darwinism”, a social theory of the late nineteenth century based on the laws of evolution and natural selection among species to human society. Therefore, The conditions of the proletariat were critical with extreme low wages, diminishing control over their work, and a growing sense of powerlessness. The first real millionaires in the United States were Andrew Carnegie - the central figure in the steel industry- and John D. Rockefeller - Owner of the Standard Oil corporate empire. Both desired to monopolize their businesses at all cost, Carnegie with the method of “vertical integration” - the taking over of all the different businesses on which a company relied for its primary function - while Rockefeller using “horizontal integration” - the combining of a number of firms engaged in the same enterprise into a single corporation.