Step 60 of 103
Key factors
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- Abundant natural resources (coal, iron, oil, lumber)
- Large, growing domestic market
- Continuous immigration providing labor
- Westward expansion driving demand for railroads and equipment
- Limited government regulation in the late nineteenth century
- Robber barons (Carnegie in steel, Rockefeller in oil, Morgan in finance, Vanderbilt in railroads) built vast monopolies
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