Have you ever heard about Morganization? No? J.P. Morgan created monopoly in 3 major industries (railroad, electricity and steel) and his style of doing business called Morganization.
A man always has two reasons for doing anything: a good reason and the real reason.J. P. Morgan
J P Morgan is famous for his monopoly style business strategy. He used his money, influence and power to get rid of competition. Even antitrust commission was not able to do anything.
J. P. Morgan used all possible ways to illuminate the competitors: buy small companies, reduce price until competitors go bankrupt, buy competitors’ business in dirt cheap price. He worked towards industrial modernization by using the most innovative technology. But he also reduced worker’s wages.
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