Federal Steel Company

Definition

The Federal Steel Company was an American steel conglomerate founded in 1898 by some prominent industrialists including J.P. Morgan.

Analogy

Consider Federal Steel Company as one player in a high-stakes game of Monopoly where companies are buying up properties (in this case, other steel companies) to gain control over resources and markets.

Related terms

J.P. Morgan: An influential banker and financier who dominated corporate finance during his time. He’s like that rich uncle everyone has who seems to have his hand in every business venture.

Industrialization: This refers to the process by which an economy shifts from primarily agrarian production to mass-producing goods using machines in factories - it’s like upgrading from cooking meals at home for family to running a full-scale restaurant.

Monopoly: A situation where a single company or group owns all or nearly all of the market for a given type of product or service. It's like being the only food vendor at a music festival - everyone has to buy from you.