Political Movements and Industrialization

These flashcards cover key vocabulary related to political movements, economic principles, and industrialization as discussed in the lecture.

Populism

A political movement advocating for the rights and power of the common people, particularly farmers.

Omaha Platform

A set of political demands set forth by the Populist Party, calling for reforms such as direct election of Senators and graduated income tax.

Morrill Land Grant Act

Legislation that allowed states to create public colleges funded by the sale of federal land, emphasizing agricultural education.

Industrial Revolution

A period of significant industrial growth characterized by the use of natural resources, government support, and innovations leading to manufacturing and economic changes.

Transcontinental Railroad

A train route across the United States, completed in 1869, connecting the East with the developing West.

Bessemer Process

An industrial process for making steel from molten pig iron, which allowed for cheaper and more efficient steel production.

Philanthropy

The act of donating to charitable causes and institutions to promote the welfare of others, often associated with wealthy industrialists.

Monopoly

The exclusive possession or control of the supply or trade in a commodity or service, limiting competition.

Horizontal Integration

A business strategy that involves the acquisition of companies at the same level of the supply chain to consolidate market power.

Laissez-faire

An economic principle advocating minimal government intervention in the market.