Personal ResponseDirections: Do not write directions or the discussion prompt. Think about a response to the following questions and participate in the

discussion.

• What are the pros and cons regarding one company’s ownership of all parts of an industry? How would single ownership of an industry effect consumers, corporate shareholders and governmental policies?

History Alive! Pursuing American Ideals

Chapter 13 Key Terms

The Age of Innovation and Industry

Chapter 13 Focus Question

Was the rise of industry good for the United States?

Capitalism

• Definition:– An economic system

in which factories, and other means of production are privately owned rather than government controlled.

Laissez-Faire

• Definition:– The idea that the free

market, through supply and demand, will regulate itself if government does not interfere.

– Free Market

Horizontal Integration

• Definition:– A corporate expansion

strategy.– Involves joining

together as many firms from the same industry as possible.

John D. Rockefeller’s Standard Oil

Vertical Integration

• Definition: – Corporate expansion

strategy– Control of each step in

the production and distribution of a product.

• Acquiring raw materials to manufacturing, packaging, and shipping.

Time Warner

Internet

Movies

Cable Providers

Movies Television

Publishing

Cartoon Network Turner Network Television (TNT)

AOL Instant Messenger

MapQuest

Winamp

Amazon.com (partial)

Netscape

Time Warner Cable

Castle Rock Entertainment

Warner Bros. Studios

Hanna - Barbera Cartoons CNN

HBO Court TV

Road Runner

Time

People Mag.

Sunset Books

Sports Illustrated

Fortune

Kablevision (53.75% - cable television in Hungary)

RadioCNN Radio

http://cjrarchives.org/tools/owners/timewarner.asp