Studied by 5 people
Telegraph
Revolutionized long-distance messaging through Morse code, enabling rapid communication.
Bessemer Process
Method to convert impure pig iron into steel, revolutionizing steel production for durability.
Alternating Current Transmission
Allowed energy transfer over long distances efficiently, promoting electricity use.
Vertical Integration
Ownership of the entire production cycle, from raw materials to distribution, for control and efficiency.
Horizontal Integration
Expansion by acquiring companies at the same production level, aiming for industry dominance.
Standard Oil Company
Founded by John D. Rockefeller, monopolized oil refining through horizontal integration.
LLC (Limited Liability Company)
Business model where investors are not personally liable for company debts, encouraging investment.
Railroad Expansion
Connected distant regions, boosted the economy, facilitated resource utilization, and encouraged capital investments.
Electric Lightbulb
Invention by Edison, made indoor lighting safer and more accessible, transforming daily life.
Phonograph
Created by Thomas Edison, allowed audio recording for business communication, enhancing documentation.
Trust
A legal arrangement where a board of trustee members collectively manage the operations of multiple companies or operations they hold partial ownership in.
Holding Company
A corporation that owns stock in multiple companies without interfering in their leadership structure, aiming to gain majority stock ownership and influence over them.
Self-made Man
The ideology of individualism and faith in personal success, persisting in American society due to opportunities for upward mobility and cultural support.
Social Darwinism
Belief in natural competition leading to success for the superior members of society, contrasting with the Gospel of Wealth's focus on wealthy individuals' obligation to benefit society.
Populist Movement
Aimed to address social issues for farmers and build better agrarian communities, influencing political agendas but not fully realized.
Social Gospel Movement
Advocated for improved wages, poverty alleviation, and better working conditions, impacting society but not achieving its full vision.
Monopoly
Concerns about monopolies included price gouging, lack of innovation, labor exploitation, political influence, and negative impact on democracy.
Urban Working Class
Primarily composed of Rural Migrants and Immigrants, attracted to factory jobs in urban areas due to industrialization of agriculture.
Industrial Labor Hazards
Included minimal job security, low pay, child labor exploitation, unsafe conditions, and destruction of artisanal professions.
Knights of Labor vs
Contrasted in membership inclusivity, leadership style, and focus on social vs. specific industry issues, leading to AFL's success and Knights' disappearance.
Haymarket Affair, Homestead Strike, Pullman Strike
Labor strikes with violent outcomes impacting the organized labor movement negatively, leading to decline in membership and influence.
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Flashcard (24)