Foundations of Modern America: Second Exam Vocab

Dumbbell Tenements

Where lots of workers of which worked for wealthy individuals lived.

What class is considered to be engaging in “brain activities”?

Middle class

Gospel of Wealth

Refers to the idea that a wealthy person musn’t die rich, but instead give it to institutions that provide opportunities and resources to the less fortunate.

Upward mobility

Idea that one may improve their own life by taking advantage of resources and opportunities.

What else is the term, “upward mobility” referred to as?

Andrew Carnegie’s “ladders”

Laissez Faire

Economic system in which private businesses operate with virtually no rules and regulations, let alone oversight by the government.

Epoch-makers

Less fortunate individuals that came to be globally influential figures.

What was Carnegie’s formal view of the “gospel of wealth?”

The rich serve as trustees of their wealth of which should be used to promote the “general good.”

American Socialist Party (1901)

Led by Eugene V. Debs and Ben Hanford and supported by a majority of immigrants, women, and black Americans.

What political party became the largest socialist one in the world?

The American Socialist Party

Marxism

Concept that society and human history is driven by a continuous struggle between economic classes.

What two groups constitute Marxism?

Proletariat and Bourgeoisie.

Anarchism

A political and social movement of which seeks to abolish all forms of authority, coercion, and hierarchical structures, especially the state and capitalism.

Communism

A political and economic concept of which aims to create a classless stateless society where the community or government owns all major means of production while all private property is eliminated so wealth may be shared equally.

Socialism

An economic and political system where major industries, resources, and means of production are owned or controlled by the collective public or the workers, rather than by private business owners.

Monopology

When one single company is the only seller of a specific product or service.

Oligarchy (oligopoly)

When a small number of large firms dominate an industry and control most of the market share.

Direct democracy

A governmental system where citizens hold the ability to directly vote on laws, policies, and public issues, rather than having elected representatives make the choices for them.

Semi-direct democracy

System where citizens elect representatives to run the governments on a day-to-day basis, but still maintain the power to use direct-democratic tools.

Primary elections

Events held to determine the candidates that will be running in the upcoming general election.

Initiative

Process by which citizens collect signatures in order to implement a new law or constitutional amendment directly on the ballot.

Referendums

Process of which allows citizens to vote on the approval or veto of laws that have already been passed by the legislative branch.

Recall

Process by which citizens may remove an elected official from office through a vote (before their term ends).

The 17th Amendment

States that both senators from each states are to be elected into power by the people.

The 19th Amendment (1920)

States the U.S’ recognition of women’s universal suffrage, therefore, no vote may be denied to an individual on the basis of sex.

The 16th Amendment

Provides Congress with the power to collect a federal income tax from any source without division amongst states based on population

Cronyism

The unfair giving and awarding of political promotions, favors, and contracts to politicians close friends and donors.

Taylorism

The break down of activities into a sequence of mechanical steps using stop watches to measure the time it took each worker to perform each step.

The Three C’s

Control of corporations, consumer protection, and conservation of natural resources.

Square deal

Theodore Roosevelts domestic reform program that sought to give every American a fair and honest chance through the use of the federal government as a neutral ground between big business, workers, and everyday consumers, as a way to balance power.

What else is the square deal referred to as?

“Three C’s”

Elkins Act of 1903

Determined the act of railroads providing cash refunds (secret rebates) on freight (heavy cargo ships) charges in favor of high-volume customers as illegal.

Hepburn Act of 1906

Gave the Federal Interstate Commerce Commission (ICC) the power to set maximum freight rates (how much is charged per ton-mile) for the railroad industry.

Meat Inspection Act of 1906

Required the legal inspection of any livestock and their carcasses by the governments appointed inspectors if the meat is to be sold, traded, or shipped across state lines.

The Pure Food and Drug Act of 1906

Requires that the makers of all prepared food and medicines host government inspectors and label the ingredients of their products.

Coal Miner’s Strike of 1902

Members of the United Mine Workers walked off job sites in Pennsylvania and West Virginia where overworked and underpaid workers sought a 2% wage increase, a nine hour maximum shift, and recognition by the mine owners.

Arbitration Commission

Act of presenting your case to a third party whose decision is the resolution, whether the presenter likes it or not.

Sherman Anti-Trust Act of 1890

Marked the nations first major legislation designed to prohibit anticompetitive business practices, break up corporate trusts, and restore free-market competition.

Clayton Anti-Trust Act of 1914

Established several prohibitions and clarifications such as that of the “monopolies in restraint of trade,” declaring the fact that labor unions could not be viewed as such.

E.C. v.s Knight

A case where the Supreme Court ruled the fact that the Anti-Trust act of 1890 did not apply to manufacturing monopolies such as the American Sugar Refining Company that managed over others, giving it control over roughly 98% of the nation’s entire sugar refining business.

Northern Securities Case of 1904

Injunction

A legal order to halt all illegal doings and the likely sentencing of individuals if they do not stop.

In what instance could the court issue an order known as an injunction?

If a company was found “in restraint of trade,” therefore, engaging in illegal activities.

Federal Reserve Act of 1913

Interstate Commerce Commission Act of 1887

First authority that established the cease and desist.

Interstate

Means “between” or “among” states.

Intrastate

Means “within” a state.