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Industrial Revolution
The period of major industrialization and innovation in the 19th and 20th centuries
Nationwide
Affecting or involving an entire country
Markets
The stock industry for specific industries' shares
Abundant
Plentiful; existing in large quantities
Immigrant
A person who comes into another country to settle permanently
Capital
Money invested in a business or project
Standardize
To make something uniform or identical
Efficiency
The ability to accomplish a task with minimal waste of time and effort
Robber Barons
The term for unscrupulous top businessmen during the industrial revolution
Captains of Industry
The term for influential and philanthropic top businessmen during the industrial revolution
Corporations
Companies owned by public shareholders
Revolution
A significant and radical change in society or industry
Capitalism
An economic system based on private ownership and competition
Gauges
The distance between two train rails
Andrew Carnegie
A philanthropic businessman known for steel production and aggressive business tactics
Cornelius Vanderbilt
A philanthropic businessman known for aggressive tactics in the railroad industry
Transcontinental RR
The first railroad to run from the east to the west of the United States
Cutthroat Competition
Aggressive competition involving price-cutting and aggressive tactics
Rebates
Refunds or discounts given to customers as an incentive
Pooling
When major companies in an industry work together to set prices and avoid price cutting
Drought
A prolonged period of abnormally low rainfall causing a shortage of water and resources
Natural Monopoly
A monopoly that arises due to the absence of competition in a specific industry
Inventions
New ideas or products that are not mere improvements of existing ones
Old Immigrants
Immigrants who arrived before the industrial revolution, mainly from Britain, Germany, and Ireland
New Immigrants
Immigrants who arrived after the industrial revolution, mainly from Southeast Europe
W.A.S.P.'m
Old immigrants who were White Anglo-Saxon Protestant men
Discrimination
The unjust or prejudicial treatment of different categories of people
Industrialization
The development of industries in a country or region on a wide scale
Persecution
The act of mistreating or oppressing individuals or groups
Push Factor
Factors that drive people to leave their countries for another
Pull Factor
Factors that attract people to move to a new country or location
Pogroms
A series of organized anti-Jewish attacks or programs
Nativism
A policy of protecting the interests of native-born or established inhabitants against those of immigrants
Chinese Exclusion Act
Legislation that prohibited the immigration of Chinese laborers to the United States
Famine
An extreme scarcity of food leading to widespread hunger and death
Urbanization
The process of making an area more urban, typically involving the development of towns and cities
Philanthropic
Showing concern for the welfare of others, typically by donating money to good causes
Ethnic Neighborhood
Neighborhoods where immigrants from the same country or religion settle in the same area
John D. Rockefeller
A prominent businessman known for his role in the oil industry and philanthropy
American Dream
The belief that anyone, regardless of where they were born or what class they were born into, can attain their own version of success in a society
Bessemer Process
A method for mass-producing steel using a blast of air to remove impurities
Vertical Consolidation
The process of gaining control over the different stages of production and distribution of a product
Stocks
Shares representing ownership in a company
Horizontal Consolidation
The process of a company acquiring similar companies in the same industry to reduce competition
Regulations
Rules or laws put in place to control or govern conduct in an industry
SCARCE
insufficient amount
PERSECUTION
to treat badly
ACCULTURATION
integrate; become part of another culture
RESENT
feelings of bitterness
RESTRICT
to limit; deny access
SPUR
to urge forward; stimulate
AIR BRAKE
a brake worked by using air pressure
REGULATION
limit; restriction
BOOM
a period of great prosperity
GAUGES
distance between rail on a railroad track
RUTHLESS
having NO pity or compassion
INTEGRATION
to join together
LOANS
borrowing money; something borrowed
PROSPECTOR
a person who searches for mineral deposits
MONOPOLY
complete control of an industry
major cuase of IR 1
Many new inventions (new ideas) and innovations (improved existing ideas)
major cuase of IR 2
lots of Capital was invested in business
major cuase of IR 3
Labour population grew - people went from farming to working at a factory and 31 million immigrants came to the us during the IR
major cuase of IR 4
Abundance of natural resources
major cuase of IR 5
Transportation - Railroads over land from 1860 (30,000 miles of track) to 1890 (150000 miles)
major cuase of IR 6
Era of big buisness - Corporations and stocks helped big buisness grow
major cuase of IR 7
gov did not regulate buisnesses
major cuase of IR 8
american attitude
Note
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