The Gilded Age

Capitalism

An economic system where private individuals or businesses own capital goods and operate for profit.

Gilded Age

A period characterized by rapid industrial growth and economic expansion in the U.S.

Economic Inequalities

Disparities in wealth distribution, where wealth was concentrated among a few while many workers faced poor conditions.

Monopoly

A market structure where a single company has exclusive control over a commodity or service, eliminating competition.

Titans of Industry

Powerful industrialists who benefited from monopolies, such as John D. Rockefeller and Andrew Carnegie.

Smaller Businesses

Often driven out of the market due to monopolies, unable to compete with lower prices and resources.

J.P Morgan

industrialist known for banking and finance

Andrew Carnegie

A Gilded Age industrialist associated with the steel industry.

John D. Rockefeller

A Gilded Age industrialist known for the oil industry.

Cornelius Vanderbilt

A Gilded Age industrialist associated with railroads.

Innovations

Technological advancements like the telephone and light bulb that improved communication and living conditions.

Bessemer Process

A method for producing steel that allowed for more efficient and cost-effective steel production.

Urbanization

The growth of cities fueled by innovations and the influx of immigrants seeking economic opportunities.

Nativism

A policy protecting the interests of native-born inhabitants against immigrants, leading to social tensions.

Chinese Exclusion Act

A law passed in 1882 that restricted Chinese immigration due to nativist attitudes.

Ethnic Enclaves

Neighborhoods where immigrants from the same nationality or ethnic group settled, providing cultural familiarity.

Working Conditions

Often harsh for the working class, with long hours, low wages, and unsafe environments.

Child Labor

The use of children in factories and sweatshops, often depriving them of education and exposing them to hazards.

Progressive Era

A period focused on addressing social, political, and economic injustices caused by industrialization.

Muckrakers

Journalists who exposed corruption and social injustices, raising public awareness for reforms.

Trusts

Business arrangements where companies work together to control an industry and reduce competition.

Square Deal

President Theodore Roosevelt's program aimed at ensuring fair treatment and regulating corporations.

Laissez-Faire

A government policy of minimal regulation and intervention in business affairs during the Gilded Age.

Meat Inspection Act

A 1906 law ensuring sanitary conditions in meat processing, passed in response to public outcry.

Food & Drug Administration Act

Legislation aimed at regulating food and drug safety, ensuring public health standards.