Studied by 103 people
gross national product
the total value of all goods and services produced by a country eight times greater that it had been when the civil war ended
entrepreneurs
people who risk their capital in organizing and running a business in order to manufacture and transport
laissez-faire
french idea, "let people do as they choose." supporters believe the government shouldn't interfere
distribution
operating vast complexes of factories, warehouses, offices, and distribution facilities
corporation
an organization owned by many people but treated by law as though it was a single person
vertical integration
Carnegie began it with the steel industry, owns all of the different businesses on which it depends for operation
horizontal integration
successful business leaders also pushed forth, combining many firms engaged in the same type of business into 1 large corporation
monopoly
when a single company achieves control of an entire market. opponents feared these because they believed a company with one could charge whatever it wanted for its products.
concept
it allows 1 person to manage another person's property
marxism
the ideas of Karl Marx, the theory of socialism in which a class struggle would exist until the workers were finally victorious creating a classless society
industrial union
owners of large corporations particularly opposed. it united all craft workers and common laborers all in a particular industry
closed shop
the AFL pushed for; companies could hire only union members. membership was a condition for being hired and continued employment
Alexander Graham Bell
a young Scottish-American inventor who suggested the idea of a telephone
Thomas Alva Edison
the most famous inventor of the late 1800s, worked tirelessly to invent new products to improve devices
pacific railway act
started in 1862 signed by president Abraham Lincoln; it provided for the construction of a transcontinental railroad by 2 corporations
Andrew Carnegie
a Scottish immigrant who rose from bobbin boy in a textile factory to the owner of a steel company in Pittsburgh. He began vertical integration of the steel industry
American Federation of Labor
Samuel Gompers was the leader, their goals were to convince companies to recognize unions and agree to collective bargaining.
Samuel Gompers
the AFL's first leader, his approach to labor relations helped unions become accepted in American society
volume
the amount of space that a substance or object occupies or encloses within a container. lower rates because of the volume of goods shipped
populism
a movement to increase farmers' political power and to work for legislation in their interest
inflation
a rapid increase in the money supply without an accompanying increase in goods for sale, a decline in the value of money
deflation
as the economy expanded, there was an increase in the value of money and a decrease in prices. money increased in value and prices began to fall.
graduated income tax
one that taxed higher earnings more heavily. the platform denounced the government's refusal to the coinage of silver.
poll tax
a tax of a fixed amount per person that had to be paid before the person could vote. requiring all citizens registering to vote pay one
prospective
required those voters to be able to read or understand state constitution. expected or expecting to be something particular in the future
grandfather clause
some states gave whites a special break with it, allowing any man to vote if he had an ancestor who appeared on voting rolls
segregation
in the south, a separation of the races. laws enforced and perpetuated discrimination.
Jim Crow laws
the statutes enforcing segregation
stalwarts
what newspapers called local bosses of Republican political machines
Pendleton Act
1885 set by congress, set up civil service with appointments of candidates based on examinations
Interstate Commerce Act
public pressure forced congress to enact creating the interstate commerce commission. the first federal law designed to regulate interstate commerce
grange
in increasing numbers, they joined the first national farm organization. the Patrons of Husbandry tried to create cooperatives
people's party
members of the Kansas Alliance formed AKA populists. they nominated candidates to run for congress and state legislature
William Jennings Bryan
a strong supporter of silver to back the dollar
Ida B. Wells
fiery young African American woman from Tennessee who launched fearless crusade against lynching in 1892
W.E.B. DuBois
leader of a new generation of African American activists born after the Civil War
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Flashcard (22)