unit 2 vocab

Interstate Commerce Act

An independent federal agency established to oversee businesses engaged in interstate trade, especially railroads, but whose regulatory power was limited when tested in the courts.

Laissez-faire

An economic doctrine holding that businesses and individuals should be able to pursue their economic interests without government interference

Social Darwinism

The application of Charles Darwin’s theory of evolutionary natural selection to human society; social Darwinists used the concept of “survival of the fittest” to justify class distinctions, explain poverty, and oppose government intervention in the economy.

Vertical Integration

The process by which a company controls different stages along the supply chain. Instead of relying on external suppliers, the company strives to bring external processes in-house to have better control over the entire production process

Horizontal Integration

The process by which one firm acquires another firm operating in the same industry or producing the same line of products in an effort to reduce direct competition.

Trust

Any business arrangement that gives a person or corporation (the “trustee”) the legal power to manage another person’s money or another company without owning those entities outright.

Monopoly

Any corporation so large that it effectively controls the entire market for its products or services.

Sherman Antitrust Act

Legislation that served to enhance the Sherman Anti-Trust Act (1890) by clarifying what constituted “monopolistic” activities and declaring that labor unions were not to be viewed as “monopolies in restraint of trade.”

Ellis Island

A historical landmark in the New York Harbor serving as the business immigrant inspection and processing inspection in the U.S.

Angel Island

The largest natural island in San Francisco Bay, California, best known for housing an immigration station that processed hundreds to thousands of people from 1910-1940

Nativism

A reactionary conservative movement characterized by heightened nationalism, anti-immigrant sentiment, and laws setting stricter regulations on immigration.

Chinese Exclusion Act

A federal law that barred Chinese laborers from immigrating to America.

Urbanization

The process where more people move from rural or country areas to live and work in cities, causing towns and cities to grow larger

Settlement House

Community centers established in poor, urban, and immigrant neighborhoods during the late 19th and early 20th centuries to help residents adapt and improve their living conditions

Political Machine

An organized political group controlled by a single boss or a small, powerful core that commands enough votes to maintain continuous control over a city, county, or state government.

Muckraker

Writers who exposed corruption and abuses in politics, business, consumer safety, working conditions, and more, spurring public interest in progressive reforms.

Poll tax

A fixed fee charged to every person, regardless of their income or wealth. The word "poll" is an old word for "head," so it literally means a tax per head

Progressive Movement

A major political and social-reform campaign in the United States from the 1890s through the 1920s that aimed to use government intervention to fix the problems caused by rapid industrialization and urbanization.

Suffrage

The right to vote in political elections