AMSTUD REVIEW: Industrial Economy

A set of flashcards covering key concepts related to the Industrial Economy based on lecture notes.

What percentage of the world's industrial output did the US produce in 1913?

13% of the world's industrial output.

What year did the 1880 census find 102 more workers in non-farming jobs than farming?

1880.

What major factor fueled industrial growth in the US during this time?

Urbanization.

Which two resources were primarily produced around the Great Lakes?

Steel and iron.

Who dominated the steel industry through vertical integration?

Andrew Carnegie.

What did John D. Rockefeller use to dominate the oil industry?

Horizontal integration (buying competitors) and vertical integration.

What was the outcome of the economic panics and depressions from 1873 to 1897?

Businesses used trusts and pools to limit competition.

What did Thorstein Veblen criticize in his work 'The Theory of the Leisure Class'?

Conspicuous consumption.

What legislation aimed to break up tribal lands into individual allotments in 1887?

The Dawes Act.

What was the name of the movement that aimed at forcing Native Americans into mainstream society?

Forced assimilation policies.

What event resulted in the killing of 150-200 Native Americans in 1890?

Wounded Knee.

Which Supreme Court case struck down labor regulations as unconstitutional?

Lochner v. New York (1905).

What was the main goal of the Knights of Labor?

To organize all workers and seek social reform.

Who promoted the idea of a 'single tax on land'?

Henry George.

What did the 'Social Gospel' movement advocate for?

Addressing social inequality through Christianity.

What significant labor event took place in 1886 that was labeled as radical and un-American?

The Haymarket Affair.

What was a common theme in the political landscape during the Gilded Age?

Corruption in politics and weak leadership from presidents.