US History - Gilded Age: Industry, Immigration and Urbanization

Monopoly

single entity that controls all factors of production

Tenement

a very small apartment, usually occupied by one large family and they were often very dirty, people suffered from diseases, and there were fire hazards

Enclave

area with high number of one ethnic group (usually found in cities)

Settlement House

community centers that offered social services

Hull House

one of the famous settlement houses, organized by Jane Adams

Political Machine

illegal organizations controlled by a single boss who maintains government control by providing favors to voters in exchange for their vote

Nativism

an extreme dislike for immigrants by native-born people

Explain the difference between vertical and horizontal integration.

• Vertical, up and down, buy out all companies at all levels of production

• Horizontal, left and right, buy out competing companies in the same industry

Identifying examples of each may help you to remember this material

• Vertical: Carnegie Steel

• Horizontal: Standard Oil

Explain why monopolies were/are so bad for consumers.

Drives up prices because there is only one company that sells/does a certain product/service so they can set the price without competition.

What was the Gospel of Wealth?

Book written by Andrew Carnegie arguing that the wealthy have a responsibility to provide for society (the not as wealthy)