First of all, thank you SO much for clarifying my question! It is part of an overall essay topic that I can't figure out how to answer:
Compare and contrast the methods used by late nineteenth century corporations to control competition - especially the pool, trust, holding company and vertical and horizontal integration.
I don't understand the difference between horizontal and vertical integration. I kind of see some of these things connecting because of their unifying companies to be able to reduce competition to be able to raise prices, like you said. But isn't that the topic of the essay? And aren't all of those methods similar in that way? I don't feel very insightful right now.
Yes. These methods are similar. I think that's the point of your assignment -- to find the ways they are similar and the ways they are different -- and then apply them to the late nineteenth century.
The two Wikipedia sites linked below define most of these terms and give examples. For instance, the Carnegie Steel Corporation used vertical integration to help achieve its goals. I didn't find much about pools, but the last two sites have some information about them.
http://en.wikipedia.org/wiki/Vertical_integration
http://en.wikipedia.org/wiki/Monopoly
http://www.liheap.ncat.org/iutil2.htm
http://www.answers.com/topic/pool
I'm glad I could clarify your question for you! It seems like you are struggling with understanding the difference between horizontal and vertical integration and how these different methods relate to controlling competition.
Let's start by defining horizontal and vertical integration. Horizontal integration refers to the merger or acquisition of companies that operate in the same industry or produce similar products. It involves combining companies at the same stage of production or distribution to increase market share and reduce competition. An example of horizontal integration in the late nineteenth century would be the merger of competing railroad companies to create larger, more dominant railroad conglomerates.
On the other hand, vertical integration involves the merger or acquisition of companies involved in different stages of production or distribution within an industry. This means that a company takes control over its supply chain by acquiring suppliers or distributors. By integrating vertically, a company aims to reduce costs, increase efficiency, and gain more control over the market. For example, Andrew Carnegie's Carnegie Steel Corporation practiced vertical integration by acquiring iron ore mines, coal mines, and transportation companies to control the entire process of steel production, from raw materials to finished products.
Now, regarding your essay topic, you are correct that the methods you mentioned - the pool, trust, holding company, and vertical and horizontal integration - were all aimed at controlling competition in the late nineteenth century. These methods were used by corporations to consolidate their power, reduce competition, and achieve dominance in their markets. However, the essay prompt is asking you to compare and contrast these methods, which means you need to go beyond the surface-level similarity of their goals and delve into the specific characteristics and effects of each method.
To gain insight and gather information for your essay, you can start by researching each method individually using reputable sources such as scholarly articles, books, and credible websites like the ones you mentioned earlier, including Wikipedia and other reliable sources. By studying the history, characteristics, and impacts of each method, you will be able to identify the similarities and differences between them.
For instance, you can explore the specific mechanisms of how pools, trusts, holding companies, and vertical and horizontal integration were structured and operated. You can analyze the extent of control and consolidation these methods provided to corporations, the legal and regulatory frameworks they operated within, their influence on market competition, and the long-term effects they had on industries and the economy.
By conducting thorough research, you will gain the necessary insight and knowledge to write a well-informed and insightful essay that explores the similarities and differences between these methods of controlling competition in the late nineteenth century. Remember to support your analysis with specific examples and evidence from your research to strengthen your arguments.