The American Industrial Revolution Review

Railroads

An essential industry that revolutionized transport, making it faster and cheaper to ship goods across the nation.

JP Morgan

A powerful figure in the railroad industry who owned half of the nation's railroads.

Transcontinental Railroad

Connected the country, promoted trade, provided jobs, and decreased travel times from months to days.

National Markets

Created by the efficiency of rail transportation, allowing goods to be shipped faster and cheaper.

Oil

An industry significantly influenced by John Rockefeller, whose company, Standard Oil, fueled new machinery and paved the way for automobiles.

John Rockefeller

The influential industrialist in the oil industry known for creating Standard Oil.

Gospel of Wealth

A philosophy endorsed by Andrew Carnegie, emphasizing the responsibility of the wealthy to use their resources for the greater good.

Andrew Carnegie

Industrialist who led the steel industry and believed in the Gospel of Wealth.

Bessemer process

A process that made steel production from iron cheaper and stronger, revolutionizing construction.

Electricity

A transformative technology that powered new machinery, improving the quality of life and factory production.

Alexander Graham Bell

Inventor of the telephone, significantly advancing communication technology.

Thomas Edison

Inventor known for the incandescent light bulb and the phonograph, contributing to modern electricity usage.

Wright Brothers

Pioneers of aviation who developed the first successful airplane.

Henry Ford

Automobile manufacturer known for the assembly line, which transformed production efficiency.

Gilded Age

A period of rapid economic expansion, wealth accumulation, and political corruption in the late 19th century.

Entrepreneur

An individual who invests time and resources in a business venture with the hope of profit.

Robber Baron

A derogatory term for industrialists who gained wealth through exploitative practices.

Captain of Industry

A term that describes industrialists who contribute positively to society by creating jobs and increasing goods.

Laissez faire

The economic theory advocating minimal government intervention in the markets.

Monopolies

Large companies that dominate and control a particular industry.

Trusts

A combination of several companies in the same industry to maximize control and power.

Interstate Commerce Act

A law established to regulate railroads and ensure fairness in the industry.

Sherman Anti-Trust Act

Federal legislation aimed at preventing monopolistic practices and maintaining competitive markets.