Industrialization and Labor Movements

Flashcards covering key terms and concepts related to industrialization, labor movements, and political reforms in American history, based on the provided lecture notes.

The great railroad strike of 1877

A significant labor dispute where American soldiers were deployed to suppress protests and reopen rail lines, resulting in nearly 100 deaths and $40 million in property damage. It highlighted the need for institutionalized unions and greater government aid for businesses.

Firm

An organized entity that produces goods and services with the goal of generating profit.

Credit

An agreement where one party (the lender) provides goods, services, or money to another party (the borrower) with the expectation of future payment.

Investments

The allocation of resources, typically money, to acquire assets or goods that are not consumed immediately but are intended to generate future income.

Taylorism

A scientific organization of production focused on analyzing and synthesizing work techniques to make workers more efficient, productive, and interchangeable, thereby speeding up the process of mass production.

Inequality

A condition accelerated during industrialization, evidenced by the wealthiest 1% of Americans owning one-fourth of the nation's assets in 1890, and the top 10% controlling 90% of the nation's wealth by 1990.

Industrialization

The process of transforming a nation's or region's economy from a focus on agriculture to reliance on manufacturing, often leading to the creation of millions of low-paid, unskilled, and dangerous jobs.

“The Great Merger Movement”

A wave of corporate consolidations between 1895-1904, where four thousand companies (20% of the American economy) merged into rival firms, leading to market domination and monopolies.

J.P. Morgan

A prominent financial and industrial titan who oversaw the formation of United States Steel in 1901, built from eight leading steel companies.

Robber-Baron

A term used to describe powerful financial and industrial magnates who amassed vast amounts of wealth, often contributing to economic inequality.

“Survival of the Fittest”

A concept suggesting that individuals who are 'fittest' demonstrate their superiority through economic success, often used to justify resulting inequalities in living conditions and incomes.

Strike

A collective refusal by employees to work as a form of protest, aiming to force an employer to meet specific demands.

Union

An organized association of workers formed to protect and further their rights and interests, particularly regarding wages, benefits, and working conditions.

The Knights of Labor

A prominent labor union that organized a major strike of 200,000 workers against Jay Gould’s rail lines after one of its members was fired for attending a union meeting.

The Haymarket Riot

An event in May 1886 where a bomb exploded during a labor protest in Haymarket Square, Chicago, killing policemen. This incident led to the arrest and conviction of eight Chicago anarchists without concrete evidence.

The Anarchists of Chicago

Eight individuals who were arrested, charged, and found guilty in connection with the Haymarket bombing without direct evidence of their involvement; four of them were subsequently hanged.

American Federation of Labor (AFL)

A conservative alternative to the Knights of Labor, advocating 'pure and simple trade unionism' focused on achieving practical gains through cautious approaches, often avoiding strikes.

Populist Movement / Populist Party

An alliance of poor farmers and other producers who formed a political party to challenge the power of railroads, bankers, and monopolies, aiming to reshape the national economy and politics to serve producers.

Farmers

A group that united to challenge the monopolistic power of railroads and banks, forming alliances that ultimately led to the creation of the Populist Party.

The Farmers Alliance

An organization where farmers united to counter the monopolistic power of railroads and banks, hosting meetings and distributing information to build support for their cause.

Omaha Platform

The Populist Party's platform that proposed unprecedented federal actions, including nationalizing railroads and telegraphs, establishing postal savings banks, implementing a subtreasury plan, advocating for free coinage of silver, and political reforms like direct election of Senators, secret ballot, and graduated income tax.

Colored Farmers Alliance

An organization formed by African American farmers due to widespread racism that undermined unity within the predominantly white Populist Party, which was later crushed by violence.

16th Amendment

The amendment to the U.S. Constitution that grants Congress the power to levy an income tax without apportioning it among the states or basing it on census results.

17th Amendment

The amendment to the U.S. Constitution that established the direct election of United States Senators by popular vote, rather than by state legislatures.

Socialism

An economic and political ideology advocating for the more equal sharing of wealth and power, rather than concentration among a few wealthy individuals. It seeks fair wages and safe conditions for workers and farmers, and proposes replacing the capitalist system.

Eugene Debs

A prominent labor leader and presidential candidate who championed an end to 'wage slavery' and the overthrow of capitalism, envisioning a cooperative commonwealth with collective ownership of production.