Gilded Age

Transcontinental Railroad

Railroad that went across the US

US Census

Every 10 years surveys how many people are living in the US

Industrialization

Development of industries in a country

Urbanization

Increased population in cities

Laissez-faire

“Hands off gov’t”

Capitalism

Economic System where goods and businesses compete in a free enterprise system.

Free Enterprise System

Private ownership little intervention by government

Adam Smith

Writer of Wealth of Nations and creator of the invisible hand which means that only trying to benefit yourself benefits others as well.

Corporation

Buissness that is public so stock can be bought

Monopoly

To run most or all of a market.

Trust

Group of board members for a corporation.

Robber barons

Ruthless business practices like exploition and monopolistic strategies

Captains of Industry

The owner of a large industrial business.

Andrew Carnegie

Largest steel producer

Cornelius Vanderbuilt

Created Railroads gave no money to charity

J.P. Morgan

Successful banker who bought out Carnegie

John D. Rockefeller

Most wealthy American part of refined oil business.

Tenements

Small apartments where immigrants usually lived

Old Immigrants

Came from Northern and Western Europe and settled in upper east side

New Immigrants

Came from southern and Eastern Europe 

Nativism

Protecting the interest of native born US citizens