American History Vocab (Industry and Immigration)

American History Vocab Flashcards Topic 9, Industry and Immigration, pd 1 - O'Donnell

Monopoly

exclusive control by one company over an entire industry

John D. Rockefeller

An American industrialist and philanthropist. He began the standard oil company and dominated the oil industry with innovative, aggressive business practices. He also contributed money to different causes through the Rockefeller Foundation. (1839-1937)

Trust

Group of separate companies that are placed under the control of a single managing board in order to form a monopoly.

Andrew Carnegie

An American industrialist and philanthropist who began Carnegie steel, a corporation that dominated the american steel industry. He created charitable trust foundations and provided money for cultural and educational institutions. (1835-1919)

Social Darwinism

The belief held by some in the late nineteenth century that certain nations and races were superior to others and therefore destined to rule over them.

Interstate Commerce Commission

First federal agency monitoring business operations, created in 1887 to oversee interstate railroad procedures.

Sherman Anti-Trust Act

1890 law banning any trust that restrained interstate trade or commerce.

Collective bargaining

Process in which employers negotiate with labor unions about hours, wages, and other working conditions

Socialism

system or theory under which the means of production are publicly controlled and regulated than owned by individuals

Eugene Debs

A labor organizer and social leader who advocated for president five times between 1900 and 1920 as a candidate for the socialist party.

American Federation of Labor

Labor union that organized skilled workers in a specific trade and made specific demands rather than seeking broad changes

Samuel Gompers

An American Federation of labor. He advocated organized strikes and boycotts to achieve the organization's goals.(1850-1924)

Homestead Strike

1892 Strike against Carnegie's steelworks in Homestead, Pennsylvania.

Urbanization

Movement of people from rural to urban areas; expansion of cities and/or an increase in the number of people living in them.

Tenements

Multisory buildings divided into apartments to house as many residents as possible.