Industrial Revolution

Social Darwinsim

The idea that laws of nature apply to society in that certain groups of people are more prone to survival (survival of the fittest)

Laissez Faire

No government intervention or interference with the economy.

Old Immigration

From North/Western Europe, Anglo-Saxon Protestant.

New Immigration

From Southern/Eastern Europe, Catholic or Jewish, Balkans, Italy, Poland, Russia.

Bessemer Process

Process of making steel at a faster rate.

Rockafeller

monopolist - oil refining business

Carnegie

Insutrisla sataman, made money off steel, Bessemer Process

Alexander Graham Bell

Invented the telephone

Trust

Combination of Corperations

Vertical Consolidation

Controlled every phase of an industry from top to bottom (Carnegie + steel)

Horizontal Consolidation

Perfect an industry and take over the transportation (Rockefeller + oil)

Big Business

Relied on mechanization for the mass production of goods

Mechanization

introduce machines into a process.

How did the IR change America?

Advancements and urbanization. A lot of immigration which caused racism. Market changed to be more capitalistic, modernized and reformed America into what it is today.

Advancements

Transcontinental Railroad (linking the US coast to coast), automobiles, planes, entertainment (sports/amusement parks), newspapers, magazines.

Interstate Commerce Act of 1887

railroads passing through more than one state could only charge reasonable prices, had to post their rates, and had to privde a 10-day notice before raising rates.

Interstate Commerce Commission (ICC)

Had authority to investigate railroads and was the first federal regulatory commission.

Sherman Anti-Trust Act

Passed in 1890, it outlaws any combination “in restraint of trade”. The purpose was to restrict the growth of monopolies and protect the consumer by allowing business competition. The law was never enacted, and US courts sided with businesses when enforcement was attempted. TR would use it to break up trusts.

Chinese Exclusion Act

First law to ban immigration by race or nationality, chinese immigrants were barred from entering the US. 1882 - 1943