Textbook Terms, Chapter 17

Discusses impact of industrialization and the growth of big business on all of American society.

Adam Smith

An 18th-century economist whose ideas in The Wealth of Nations promoted free-market capitalism, the “invisible hand,” and limited government intervention in the economy

American Federation of Labor

A national labor organization founded in 1886 by Samuel Gompers that focused on skilled workers, collective bargaining, and practical labor reforms

Andrew Carnegie

Industrialist and steel magnate who expanded the U.S. steel industry and promoted philanthropy through the Gospel of Wealth

Edward Bellamy

Author of Looking Backward (1888), a utopian novel imagining a cooperative socialist society, influencing progressive reform movements

Eugene Debs

Labor leader and socialist who helped organize the American Railway Union and led the Pullman Strike; jailed for violating federal injunctions, establishing limits on labor protest

Frederick Winslow Taylor

Engineer who developed scientific management, emphasizing efficiency and standardized work processes in industrial production

Gospel of Wealth

Carnegie’s philosophy that wealthy individuals have a moral responsibility to distribute their wealth for the public good through philanthropy

Grotesque Luxury (Conspicuous Consumption)

Term describing the ostentatious spending and display of wealth by the elite during the Gilded Age, criticized by social reformers

Haymarket Bombing

An 1886 labor protest in Chicago that turned violent when a bomb exploded, killing police and workers, weakening the labor movement

Henry Clay Frick

Industrialist and partner of Andrew Carnegie who managed steel operations and was a key figure in the Homestead Strike

Henry Ford

Founder of the Ford Motor Company, pioneer of assembly-line mass production, and innovator in paying higher wages to workers

Henry George

Economist and social reformer who advocated a “single tax” on land to reduce inequality and promote economic justice

Holding Companies

Corporations that own enough stock in other companies to control them, used to create monopolies in industries like oil and steel

Homestead Strike

A violent 1892 labor dispute at Carnegie Steel in Pennsylvania between striking workers and Pinkerton agents, highlighting tensions between labor and management

Horatio Alger

Author of popular novels promoting the “rags-to-riches” ideal and the American dream through hard work and perseverance

Horizontal Integration

Business strategy of consolidating many firms in the same industry to control production and limit competition

John D. Rockefeller

Founder of Standard Oil and pioneer of horizontal integration, creating a monopoly in the oil industry

John Peter Altgeld

Progressive governor of Illinois who pardoned the Haymarket anarchists and advocated for labor reform and social justice

J.P. Morgan

Influential banker and financier who consolidated industries, controlled railroads, and helped stabilize the U.S. economy during financial crises

Knights of Labor

A labor organization founded in 1869 that included skilled and unskilled workers, women, and African Americans, promoting broad social and economic reforms

Limited Liability

A legal structure in which investors’ financial risk is limited to their investment in a corporation, encouraging investment and growth

Molly Maguires

Secret labor organization of Irish coal miners in Pennsylvania that used violence and intimidation in labor disputes during the 19th century

National Labor Union

Founded in 1866, one of the first national labor federations in the U.S., advocating for an eight-hour workday and labor reform

Pullman Strike

A nationwide railroad strike in 1894 led by Eugene V. Debs that was broken by federal troops, highlighting labor tensions and government intervention

Samuel Gompers

Founder and long-time leader of the American Federation of Labor, promoting practical labor reforms and collective bargaining for skilled workers

Scientific Management

Workplace system developed by Frederick Winslow Taylor to increase productivity through careful measurement, timing, and standardization of tasks

Social Darwinism

The belief that competition and “survival of the fittest” justify social inequality, laissez-faire economics, and business monopolies

Trusts

Legal arrangements where multiple companies are controlled by a single board of trustees to reduce competition and maximize profits

Vertical Integration

Business strategy of controlling all stages of production, from raw materials to distribution, used by Andrew Carnegie in steel

Wilbur and Orville Wright

Inventors of the first successful powered airplane in 1903, revolutionizing transportation and technology

Women’s Trade Union League

Organization founded in 1903 that promoted women’s labor rights, unionization, and better working conditions