How did Andrew Carnegie use vertical integration to dominate the steel industry?

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04-03-2021
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How did Andrew Carnegie use vertical integration to dominate the steel industry?

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amiyacorbin316 amiyacorbin316 · Answer 1 · 2021-03-04T13:13:45-05:00

amiyacorbin316 amiyacorbin316

04-03-2021

Carnegie created a vertical combination, an idea first implemented by Gustavus Swift. He bought railroad companies and iron mines. If he owned the rails and the mines, he could reduce his costs and produce cheaper steel. ... All these tactics made the Carnegie Steel Company a multi-million dollar corporation.

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