US History MUN H Chapter 3 Summary

Second Industrial Revolution

A major industrial boom at the end of the 19th century fueled by natural resources, creative inventions, and growing markets.

The Bessemer Process

Revolutionized steelmaking, producing lighter, stronger steel for various uses including railroads and skyscrapers.

Transcontinental Railroad

Linked the East and West of the United States, promoting westward expansion and settlement.

Social Darwinism

The belief that wealth inequality is justified by survival of the fittest, applied to business.

Sherman Antitrust Act (1890)

Legislation that outlawed trusts that restricted free trade, but was weakly enforced.

Knights of Labor

An inclusive labor union formed in 1869 that promoted equal pay, an 8-hour workday, and arbitration.

Panic of 1893

An economic crisis caused by overbuilding and competition, leading to numerous business failures.

Child labor

The employment of children in industries, which was common during the industrial era.

National Labor Union

The first national workers' organization, founded in 1866, advocating for an 8-hour workday.

Eugene V. Debs

A labor leader who formed the American Railway Union and became influential in labor activism.

Interstate Commerce Act (1887)

Established the Interstate Commerce Commission (ICC), the first federal agency to regulate business.

Vertical integration

A business strategy where a company controls multiple stages of production within its industry.

Horizontal integration

A business strategy that involves merging competitors to create a monopoly or control a market.

Labor Conflict

Tensions that arose between workers and management leading to strikes, some of which turned violent.

American Federation of Labor (AFL)

Founded by Samuel Gompers, focused on skilled workers and collective bargaining for better conditions.

Brooklyn Bridge (1883)

A symbol of technological power and urban growth in America during the industrial age.

Lewis Latimer

Inventor who improved light bulb filaments, contributing to the development of electric power systems.

Environment damage due to industrialization

Consequences of rapid industrial growth, including pollution and river fires.

J.P. Morgan

A financier who reorganized railroads and created holding companies controlling multiple industries.

Homestead Strike (1892)

A violent labor dispute that weakened unions and affected steelworkers' rights.