Industrialization and Growing Labor Movement

Edwin Drake

Drilled the 1st oil well in Titusville, PA

Horatio Alger

An Author who wrote Rags to Riches novels, when the poor would become rich and hero’s

Entrepreneur

Small business owners to risked money to make money

Protective tariffs

Tax on imported goods, which made U.S. goods cheaper and encouraged Americans to buy American goods

Laissez-Faire

“Hands off” to government

Patent

Giving rights to the inventor

Thomas Jefferson

Inventor of the lightbulb, electricity in houses, and the modern power grid

Menlo Park

Edison’s research lab, located in New Jersey

George Westinghouse

Edison’s rival, who developed technology that allows technology though great distances

Alexander Graham Bell

Invented the telephone

Marconi

Created the wireless telegraph which becomes the radio layer

Bessemer Process

Iron purification to make steel lighter and more flexible

Suspension Bridges

Use the steel that underwent the Bessemer Process

Time Zones

Created to standardize time around the world ; used to regulate railroads to prevent crashes

Weight Brothers

Development the first Airplane at Kitty Hawk North Carolina

Mass Production

Large scale production of products that is cheaper and faster

Yellowstone Park

1st National Park created in response to increase environmental pollution from the Industrial Revolution

Corporation

Group ownership which limits financial losses and creates a one-time huge infusion of cash

Vanderbilt

Made his money in Steam Ships and Railroads ; constructed Biltmore‘s estate near Asheville, North Carolina

Monopoly

One corporation having complete control over a market and driving all competitors out

Cartel

Corporations who make the same products, limits production to create high prices and high profits

Rockefeller

Standard Oil: Based out on Cleveland, Ohio

Horizontal Integration

Rockefeller’s Standard Oil: buying out your competition

Carnegie

Founder of United States steel

Vertical Integration

Carnegie’s US Steel ; When you buy every business that uses your product

Trust

A Monopoly

Robber Barons

Idea that powerful corporations are bankrupting small businesses ; negative view of corporations

Captains of Industry

Idea that powerful corporations are good for economy and gives people jobs ; positive view of corporations

Social Darwinism

Those who acquire wealth wealth were most fit to have it and government should stay out of the economy

ICC (Interstate Commerce Commission)

Regulates railroads that cross state lines

Sherman Antitrust Act

Designed to eliminate monopolies that restrained trade ; it was not enforced and prevented unions from forming

Sweatshops

12 hour days with no overtime, poor lighting, poor ventilation, and super loud

Company Towns

When corporations owns the houses where workers live and own the grocery stores

Wage Slavery

when corporations own the houses where the workers live and the grocery stores

Collective Bargaining

Workers negotiate as a group for increased wages and better working conditions

10 Hour Day

First success for organized (unionized) workers

Socialism

Mixed economy, where government owns all property and income is distributed equally

Marx & Engles

Creators of Communism

Knights of Labor

Founded by Uriah Stephan’s ; Labor unions that included all trades, both skilled and unskilled

Terence Powederly

Leader of the Knights of Labor when it failed and disappeared

Samuel Gomper’s

Founder of the American Federation of Labor (AFL)

AFL (American Federation of Labor)

Fought for increased wages, shorter hours and improved conditions

8 Hour Work Day

Haymarket riot that allowed the workers to get the 8 hour workday

Anarchists

People who don’t believe in the government

Pinkerton

Private police force known for breaking strikes

Homestead Strike

1st steelworkers strike in Homestead, Pennsylvania (PA)

ARU

American Railway Union

Eugene Deb’s

Leader of ARU

Pullman Palace Strike

The Pullman Company laid off worker and decreasing their wages by 25% and required workers to live in company towns near the Chicago factory ; workers who talked to management got fired ; ARU called for a strike of all railroad workers which impacted rail tariffs and mail delivery ; President Grover Cleaveland broke the strike and arrested Deb’s

IWW (International Workers of the World)

Mainly unskilled workers who believed in socialism and were violent ; Founded by Deb’s