Untitled Flashcards Set

Gilded Age

A period of rapid economic growth and the rise of big business in the United States during the late 19th century.

Assembly Line

An industrial process in which workers and machines are arranged so that each worker performs a specific task in sequence, improving efficiency.

Vertical Integration

A business strategy where a company controls all aspects of production from raw materials to final sales.

Horizontal Integration

A business strategy that involves merging with competitors to gain greater market control.

Scientific Management

A management theory developed by Frederick Taylor that focuses on improving economic efficiency and labor productivity through systematic study.

Child Labor

The practice of employing children in industry or business, often under poor working conditions and for low wages.

Trust

A large business entity that holds significant market power, often limiting competition.

Labor Conditions

The environment and circumstances under which workers operate, often associated with health and safety concerns.

The Gold Standard

A monetary system where the value of currency is directly linked to gold.

Deskilling of Labor

The process by which skilled labor is eliminated, allowing for cheaper labor and interchangeability of workers.

Immigrants as Laborers

The role of immigrants in the labor force, often accepted lower wages and filling labor shortages during the industrialization period.

The 4 Titans of Industry

John D. Rockefeller (oil), Cornelius Vanderbilt (railroads), Andrew Carnegie (steel), and J.P. Morgan (finance), who dominated the U.S. economy during the Gilded Age.

OSHA

Occupational Safety and Health Administration, established to ensure safe working conditions and reduce workplace injuries.

Corporate Economy

An economy dominated by large corporations, often characterized by monopolies and oligopolies that limit competition.

Mechanization of Labor

The use of machines to perform tasks previously done by human labor, increasing efficiency and reducing the need for skilled workers.

Electricity in the Gilded Age

A versatile form of energy that transformed industries and urban life, enabling new technologies like electric cars and street lighting.

Women's Labor in the Gilded Age

Women increasingly entered the workforce, often in roles such as secretarial jobs or department stores, driven by social and technological changes.