history test 1

midwest

where the industrial revolution started

why was the industrial revolution most successful in the midwest

it was a good location with access to boats and trains

Alexhander Graham Bell

inventor of the telephone

thomas edison

inventor of the light bulb

henry ford

inventor of the model t

what was the time period of the industrial revolution

18th-20th century

laissez-faire economics

government is hands-off

robber barons

industrialists with unimaginable wealth through monopolies and exploiting workers

rockefeller

oil industry, first major monopoly

carnegie

steel industry, “gospel of wealth”

vanderbilt

shipping/railroads, grew american economy and transportation

jp morgan

investment baker, financed general electric and us steel, worked in railroads

working conditions

long hours, low wages, poor ventilation, harsh punishment and control

triangle shirtwaist fire

fire started by a cigarette, very controversial, 30 laws passed and new reforms because of it

labor unions

organizations of workers formed to help improve conditions at their job

international ladies garment

after triangle shirtwaist fire, improved working/living conditions for women

knights of labor

for all laborers, better wages, hours, conditions, eliminate child labor

american federation of labor

samuel compers,started when the knights of labor was failing

transcontinental railroad

from iowa to california, moved goods and people faster, created more jobs

monopoly

when one person/company owns an entire industry

characteristics of a monopoly

they set the price, hard for others to enter that industry, holding companies, investment banks

bessemer process

process to mass produce steel

what does it mean to industrialize

to shift your company to focus on mass production

wage gap

women made half of what men did and children made even less than that

pullman strike

stopped rail trafic and became a labor crisis

homestead strike

workers on strike because of low wages, weakened the union

haymarket riot

strikers want an 8 hour work day, linked unions to radicalism and violence labor leaders were killed

great railroad strike

first general strike, protested wage cuts, spread across 14 states, unsuccessful because president hayes shut it down

life for the working class

overcrowded, poor sanitation and disease, limited/bad jobs

rise of the populists

political party representing farmers and workers, led to regulated railroads, silver coinage, direct senator elections, and calls for freedom

panic of 1893

severe economic depression triggered by railroad over-expansion and high debt

pope leo

champion of the working class, brought faith and modernity, laid the groundwork for labor rights

rerum novarum

issued in response to industrialization, addresses rights and responsibilities of workers and upheld rights to their dignity and fair wages

vertical integration

companies buy businesses at different stages of the supply chainh

horizontal integration

companies aquire competators at their level