Gilded Age

Corportation

Business stands apart from its owners. People stray away from their business to prevent getting sued

Monopoly

Complete control of a product or how it is delivered. If there is only one company that provides whatever they have, its a monopoly, which restricts competition and can lead to higher prices for consumers.

Cartel

When several companies work together to control prices or limit competition

Integration

Horizontal. Illusion of choice

Trust

A board runs the stocks of companies and combine them in a separate organization.

Social Darwinism

The idea that the strongest and most successful people should suceed

Interstate Commerce Commision

A regulatory agency established in 1887 to oversee and regulate interstate railroad rates and practices, aimed at ensuring fair competition and preventing monopolistic practices.

Collective Bargaining

The process by which a group of individuals fight for their rights work

Socialism

A system in which government owns all businesses and controls all the wealth in a country

American Federation of Labor

An early union that was successful in gaining higher wages for its workers

Knights of Labor

A significant labor organization in the late 19th century that sought to unite all workers and advocate for reforms such as an eight-hour workday and equal pay for equal work.

What caused the Haymaker riot

A clash between socialists and anrchists

Pullman Strike

120,000 railroad workers forced to stop stiking by the army