J.P. Morgan's work in the financial industry is best summarized by the statement: "He helped form some successful businesses that are still in existence today." Morgan was instrumental in the creation and consolidation of several major corporations, including U.S. Steel and General Electric, which continue to have a significant presence in their respective industries.
What happened as a result of J.P. Morgan's work in the financial industry?
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• He grew companies through the process of vertical integration.
• He helped Standard Oil acquire most other businesses in the industry.
• He was a strong supporter of social Darwinism.
• He helped form some successful businesses that are still in existence today.
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