The Gilded Age Flashcards

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What is 'The Wealth of Nations' and who authored it?

A foundational economic text by Adam Smith that discusses the principles of free market capitalism.

What are rebates in the context of business practices?

Refunds or discounts given by companies to customers, often used to incentivize purchases.

What is horizontal integration?

A business strategy where a company acquires or merges with competitors to increase market share.

What is vertical integration?

A business strategy where a company controls multiple stages of production or distribution within the same industry.

Social Darwinism

The application of Darwin's theory of natural selection to social, political, and economic issues, often used to justify inequality.

What are 'robber barons'?

Wealthy and powerful industrialists in the late 19th century who were accused of using exploitative practices to amass their fortunes.

What is the 'Gospel of Wealth'?

An essay by Andrew Carnegie that argued wealthy individuals have a moral obligation to distribute their wealth for the greater good.

Sherman Anti-Trust Act?

A landmark federal statute enacted in 1890 aimed at preventing monopolistic practices and promoting competition.

Interstate Commerce Act

A federal law that regulated the railroad industry and required rates to be reasonable and just.

Munn v. Illinois?

An 1877 Supreme Court case that upheld the right of states to regulate private industries that affect public interest.

Wabash v. Illinois?

An 1886 Supreme Court decision that limited the states' rights to regulate interstate commerce.

U.S. v. E.C. Knight Company?

An 1895 Supreme Court case that ruled the federal government could not regulate manufacturing under the Sherman Act.

What was the Credit Mobilier Scandal?

A scandal involving the Union Pacific Railroad and the Credit Mobilier construction company, which involved bribery and corruption.

Who were the Knights of Labor?

A significant labor organization in the late 19th century that sought to unite all workers and promote social reforms.

What is the American Federation of Labor (AFL)?

A national federation of labor unions in the United States founded in 1886, focusing on skilled workers' rights.

What was the Haymarket Square Riot?

An 1886 labor protest in Chicago that turned violent, leading to the death of several police officers and protesters.

What was the Railroad Strike of 1877?

A nationwide strike that began in response to wage cuts and poor working conditions, marking one of the first major strikes in U.S. history.

What was the Homestead Strike?

An 1892 strike at Andrew Carnegie's steel plant that turned violent and was a significant event in labor history.

What was the Pullman Strike?

An 1894 nationwide railroad strike that disrupted rail traffic and was ultimately suppressed by federal troops.

What is 'How the Other Half Lives'?

A book by Jacob Riis that documented the living conditions of the urban poor in New York City.

What was Ellis Island?

The primary immigration station in the United States from 1892 to 1954, where millions of immigrants were processed.

Who was Alexander Graham Bell?

An inventor best known for developing the first practical telephone.

Who is Thomas Edison

An inventor and businessman who developed many devices, including the phonograph and the electric light bulb.

Who was John D. Rockefeller?

A co-founder of the Standard Oil Company and one of the wealthiest individuals in history, known for his role in the oil industry.

Who was Andrew Carnegie's

A steel magnate who led the expansion of the American steel industry and was a major philanthropist.

Who was J.P. Morgan?

A powerful banker and financier who played a significant role in the reorganization of several major industries.

Who is Jay Gould

An influential railroad developer and speculator, often associated with unethical business practices.

Who was Cornelius Vanderbilt?

An industrial giant who made his wealth in railroads and shipping, known for his aggressive business tactics.

who is Horatio Alger

An author known for his novels about young boys achieving success through hard work and determination.

Who was Eugene Debs?

A labor leader and socialist politician who played a key role in the American labor movement.

Terence Powderly's

The leader of the Knights of Labor who advocated for workers' rights and social reforms.

Samuel Gompers?

The founder of the American Federation of Labor (AFL) and a key figure in the labor movement.

William 'Boss' Tweed

A political leader in New York City known for his corrupt practices and control over Tammany Hall.

Jacob Riis?

A journalist and social reformer known for his work documenting the living conditions of the urban poor.

Jane Addams

A social reformer and activist who co-founded Hull House, a settlement house in Chicago.