Industrial Revolution & the Gilded Age

Social Darwinism

A sociological theory that applies Charles Darwin's ideas of natural selection to social and economic issues, suggesting that individuals or groups achieve success because of their inherent superiority.

Transcontinental Railroad

A significant system in the United States that connected the eastern and western regions, facilitating commerce, travel, and the movement of people and goods across vast distances. (coast to coast)

Vertical Integration

A business strategy where a company controls multiple stages of production, from raw materials to final product, to reduce costs and increase efficiency.

Horizontal Integration

A business strategy where a company consolidates its control over competitors in the same industry, often through mergers and acquisitions, to increase market share and reduce competition.

Monopoly

A market structure where a single company or entity dominates the entire market for a specific product or service, limiting competition and controlling prices.

Oligopoly

A market structure characterized by a small number of firms that dominate the market, leading to limited competition and potential collusion on pricing and output. (french fries)

Cartel

A formal agreement among competing firms in an industry to coordinate pricing and production to maximize profits and limit competition. (drugs)

Trust

A group of companies that work together to control prices and limit competition, often by consolidating operations under a single management. (same as monopoly kinda but changing the name of companies to seem like they are separate)

Gospel of Wealth

A philosophy by Andrew Carnegie that advocates the responsibility of the wealthy to use their resources for the greater good of society, promoting philanthropy and the idea that the rich should support education and cultural institutions.

Scab

A derogatory term for a worker who continues to work during a strike or takes the job of a striking worker, often viewed as betraying fellow workers.

Blacklisting

The practice of compiling a list of workers or union members who have been denied employment, usually as a way to punish them for union activity or strikes.

open shops

workplaces that do not require union membership as a condition of employment, allowing employers to hire non-union workers.

boycott

A collective refusal to purchase goods or services from a business or organization, typically to express opposition to their policies or practices, particularly those related to labor disputes.

Strikes

A work stoppage initiated by employees to protest against their employer, often demanding better wages, working conditions, or other labor rights.

Wildcat Strikes

Unscheduled strikes conducted by workers without union approval, typically in response to immediate grievances.

Collective Bargaining

The process of negotiation between employers and a group of employees, typically represented by a union, to establish the terms of employment such as wages, hours, and working conditions.

Closed Shops

Workplaces where union membership is a condition of employment, requiring employees to be union members before being hired.

Standard Oil

A multinational oil corporation founded by John D. Rockefeller in 1870, known for its monopoly on the oil industry and aggressive business practices.

John D. Rockefeller

An American industrialist and philanthropist, he founded Standard Oil and led the expansion of the oil industry in the United States, becoming one of the wealthiest individuals in history.

US Steel Company

A major American steel producer founded in 1901, formed through the merger of multiple steel companies, including Andrew Carnegie's Carnegie Steel, and played a significant role in the industrialization of the United States.

Railroads

A network used for transporting goods and passengers, crucial for the economic development and industrial expansion during the Gilded Age.

Cornelius Vanderbilt

An American businessman and philanthropist, he played a significant role in the development of the railroad and shipping industries, amassing great wealth in the process. Best known for steamboat THEN railroads

Financial Markets

Systems for buying and selling financial securities, including stocks and bonds, crucial for capital allocation and economic growth.

J.P. Morgan

An influential American financier and banker, played a key role in the consolidation of industries, helping to create major companies and stabilize financial markets during the Gilded Age.

Knights of Labor

A prominent labor organization in the United States during the late 19th century, advocated for workers' rights, better working conditions, and the establishment of an eight-hour workday.

American Federation of Labor (AFL)

A national federation of labor unions in the United States, founded in 1886, representing skilled workers and focusing on practical economic goals such as higher wages, shorter workdays, and improved working conditions. Samuel Gompers

International Workers of the World (IWW)

A radical labor organization founded in 1905; aimed to unite all workers and promote socialism through direct action, including strikes and boycotts, challenging the mainstream labor movements of the time.

Railroad Strike 1877

was a nationwide strike in the United States that began in response to wage cuts by railroad companies. It escalated into a series of violent protests, reflecting widespread discontent with labor conditions and economic injustices.

The Haymarket Riot

was a labor protest rally that took place in Chicago in 1886, which turned violent when a bomb was detonated, resulting in the deaths of several police officers and civilians. This event highlighted the tensions between labor movements and law enforcement.

The Homestead Strike

was a labor dispute at the _________ Steel Works in Pennsylvania in 1892 between the Amalgamated Association of Iron and Steel Workers and the Carnegie Steel Company. The strike escalated into a violent confrontation, leading to several deaths and highlighting fierce labor struggles against industrial management.

The Pullman Strike

was a nationwide railroad strike in 1894 that began when workers at the ________ Company protested wage cuts and high rents in company housing. The strike disrupted rail traffic and led to federal intervention, showcasing the conflict between labor and government.

Mass Production

is the process of producing large quantities of standardized products, typically using assembly lines and machinery, which increases efficiency and reduces costs.

Division of Labor

is an economic concept that refers to the separation of tasks in any economic system or organization. This specialization allows workers to focus on specific tasks, increasing efficiency and productivity.

Yellow Dog Contract

is an agreement between an employer and employee in which the employee agrees not to join a labor union. These contracts were used to suppress union organization and protect employers from labor disputes.

Socialism

is a political and economic system where the means of production are owned and regulated by the community as a whole, aiming to achieve equal distribution of wealth and resources.

Anarchy

is a political theory advocating for a society without government or hierarchical authority. these people believe in self-governed societies based on voluntary institutions.

union

a group of workers organized to advocate for their rights and interests in the workplace.

Frederick Winslow Tailor

was an American mechanical engineer and a pioneering management consultant who is best known for his theories of scientific management. His work focused on improving industrial efficiency and productivity through systematic study and application of science to labor processes.

urbanization

is the process by which cities grow as a result of population migration from rural areas to urban centers, leading to increased industrial development and changes in lifestyle.

Jay Gould

known for his role in the expansion of the railroad industry and for his controversial business practices that contributed to the Gilded Age's economic landscape.

White collar jobs

refers to occupations that typically involve office work and administrative tasks rather than manual labor. These jobs are often characterized by higher salaries and require a different skill set compared to blue collar jobs.

Blue collar jobs

refer to occupations that involve manual labor and skilled trades, often in sectors such as manufacturing, construction, and maintenance. These jobs typically pay hourly wages and may not require advanced education.

Hull House

provided educational and social services to immigrants and the urban poor.

Subsides

financial support from the government to promote economic sectors, ensure affordability, or encourage specific activities.

Jane Addams

was a social reformer and the co-founder of Hull House, which provided vital educational and social services to immigrants and the urban poor, addressing their needs and promoting social change.

Robber Barren

a derogatory term for wealthy industrialists who used exploitative practices to amass their fortunes during the Gilded Age.

Captains of industry

term used to describe business leaders who positively contributed to the economy and society, often viewed as innovators and philanthropists during the Industrial Revolution.

Inventor if pasteurization & vaccines

Louis Pasteur

Telegraph inventor

Samuel Morse, an American artist and inventor, who developed the _____________ and Morse code, revolutionizing long-distance communication.

Bessemer process inventor

Henry Bessemer, an English engineer and inventor, who developed the _____________for the mass production of steel by blowing air through molten iron to remove impurities.

Lasting light bulb inventor

Thomas Edison, an American inventor and businessman, who developed the first commercially practical incandescent light bulb, significantly impacting the creation of electric lighting systems.

Cotton Gin inventor

Eli Whitney

Steam engine inventor

James Watt

Model T inventor

Henry Ford

Telephone inventor

Alexander Graham Bell