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Commodities
Agricultural products, like crops, animal produce, and ore.
Bourgeoisie
Capitalist middle-class, typically businessmen.
Proletariat
A person of the working class
Social Darwinism
A theory that people will become high in society because they are “naturally superior.”
Vertical Integration
A business strategy that involves a company taking ownership of key stages in its supply chain. Ex: producing its own off-brand soda rather than buying brand soda from another company.
Horizontal Integration
A business strategy that involves a company acquiring or merging with another company in the same industry and at the same operating level.
Robber Baron
A person who has become wealthy by utilizing '“ruthless” business practices; A capitalist who became wealthy through exploitation.
Samuel Gompers
The man who founded the American Federation of Labor.
Knights of Labor
An American labor federation that organized skilled and unskilled workers, campaigned for eight hour work days, and wished to form a society where laborers owned the corporations they worked in.
Agnes Nestor
An American union leader most known for her leadership roles in the International Glove Workers Union and the Women's Trade Union League, where she fought for workers’ rights and women’s suffrage.
“Piece Work”
Employment where a worker is paid a fixed piece rate for each unit made/action performed, regardless of time spent working.