USA HISTORY

Detailed explanation-1: -After his retirement, Andrew Carnegie donated most of his money (over $350 million) to establish libraries, schools, and universities, as well as a pension fund for former employees.

Detailed explanation-2: -How did Morgan achieve his stunning reorganization and consolidation of businesses in the late nineteenth century? He sometimes formed a community of interest comprised of a handful of directors. it created a surplus that was not used to produce goods and services.

Detailed explanation-3: -What was the major advantage of Westinghouse’s “alternating current” power invention? It was less prone to fire.

Detailed explanation-4: -From the French for “let them do [what they will], ” proponents of laissez-faire policies, known as liberals, believed that the free market would naturally produce the best and most efficient solutions to economic and social problems.