Gilded Age and Industrialization Vocabulary

Vocabulary flashcards covering key terms, historical figures, economic concepts, and social movements of the Gilded Age.

Political Machine

Structured organizations run by “bosses,” which controlled policies, influenced election trends, and had large levels of economic power in the community.

Andrew Carnegie

Scottish-born industrialist who became one of the most successful and influential industrialists of the Gilded Age through the steel industry.

Tenement Building

Housing buildings, built with two air shafts or the inside, and designed to house as many people as possible in as little space as possible. They always lacked light, ventilation, and proper sanitation.

J.P. Morgan

A banker who helped transform American business through lending practices and negotiations between companies. He became involved in major corporations including US Steel and General Electric.

Push Factor

Reasons that make people want to leave their home country, including war, poverty, religious persecution, and lack of available food.

John D. Rockefeller

An American industrialist who built Standard Oil and became a monopoly that controlled an estimated 90% of the oil refineries and pipelines in the US.

Pull Factor

Reasons that attract immigrants to a new country, including economic opportunities and available land.

Robber Barons

A phrase used first by journalists of the time and later by historians to describe wealthy industrialists who became rich through unethical practices.

“Old” Immigrants

Immigrants who arrived in the US before the 1880s, primarily from northern or eastern European countries.

American Dream

The idea that economic opportunity and success are available to all in the US and are achievable through hard work.

“New” Immigrants

Immigrants who began arriving in the US in the late 19th century; unlike previous generations of migrants, the “new” immigrants came from southern and eastern Europe, Asia, and Latin America.

Magnate

A powerful person within a specific business.

Literacy Test

A test that determines someone’s ability to read and write.

Gold Reserve

The amount of gold held by the government.

Vertical Integration

Controlling the stages of production of a given product.

Central Bank

A national bank that oversees a country’s money system and policies.

Horizontal Integration

When two or more companies in the same market are combined.

Labor Union

An organization that represents the people who work in a particular industry, protects their rights, and discusses their pay and working conditions with employers.

Boss Tweed

William “Boss” Tweed was an American politician best known for his leadership role in New York City’s political machine, Tammany Hall.

Laissez-faire

Leaving the free market alone; minimizing government interference in the free market.

Industrialist

Someone involved in the ownership or management of a company.

Collective Bargaining

The process of negotiating for wages and other conditions between the company and the employees as a group.

Philanthropist

Someone who wants to improve society through donating large amounts of money.

Strike

A form of work protest that involves stopping production or services in order to force employers to negotiate with the workers.

Picket Line

A boundary during a strike blocking people from entering a place of work.

Anarchism

A belief that rejects organized government and favors a society based on voluntary cooperation.

Capitalist

A form of economy and government where individuals own businesses and property and are permitted to act in their own interests.

Radical

A person or idea that supports complete political or social change and that is considered extreme by others.

Socialist

A person or idea that supports the ideas of socialism, which calls for collective or governmental control of certain parts of the economy in order to produce a more equal society.

Communist

A person or idea that supports the ideas of communism, which calls for a classless society where all property and wealth are owned by the people or the government.