SS Industry

John D Rocketfuller

Oil company starter

Andrew Carnegie

Leader of steel industry Aimed for creating high quality product

Robber Barron

A business that uses business tactics to make large amounts of money. WANTS TO ELIMINATE COMPETITION so could create MONOPOLY

Cornelius Vanderbelt

One of the most powerful railroad barons of the late 1800

J.P. Morgan

The most powerful banker in late 1800

Monopoly / Trust

Both control nearly all of the industry which made prices go uo

Industrial poineer

A business that revolutionized an industry and made great technological progress that help advantage society GOOD

Working conditions in factories

Long hours, low pay, poor ventilation

Why did factories use child labor

They could pay kids less also their hands fit in the machines

Triangle shirtwaist fire

March 1911 fire in New York factory that trapped young women workers inside locked exit doors; nearly 50 ended up jumping to their death; while 100 died inside the factory; led to the establishment of many factory reforms, including increasing safety precautions for workers

Labor Unions

An organization formed by workers to strive for better wages and working conditions

collective bargaining

Negotiations between representatives of labor unions and management to determine pay and acceptable working conditions.

AFL

American Federation of Labor. A union of skilled workers who was led by Samuel Gompers.

Knights of Labor

A union open to all workers. Used strikes to fight for what they wanted.

Homestead Strike

This was when steel workers at the Carnegie Steel Company went on strike to try to earn better working conditions, higher wages, and shorter hours. Carnegie then hired the Pinkertons to break up the strike. This event turned deadly. In the end, strikers lost.

Urbanization

Movement of people from rural areas to cities

Why was industry growing so rapidly?

People were immigrating to the cities and needed jobs!

Laissez-faire

Idea that government should play as small a role as possible in government. "Hands off" policy! During this industrialization time period, there were no rules or regulations. An effect of this were MONOPOLIES!