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Entrepreneur
A person who starts up and takes on the risk of a business

free enterprise
Economic system in which individuals and businesses are allowed to compete for profit with a minimum of government interference

Laissez-faire
Idea that government should play as small a role as possible in economic affairs/ businesses

Protective Tariffs
taxes that would make imported goods cost more than those made locally

patent
exclusive rights over an invention; copyright;

Thomas Edison
Inventor of lightbulb, phonograph and numerous other innovations

Bessemer Process
A way to manufacture steel quickly and cheaply by blasting hot air through melted iron to quickly remove impurities.

Suspension Bridges
bridges in which the roadway is suspended by steel cables

Time Zones
24 hour zones that 1,000 miles apart from the other, each one is an hour before or after the one next to it, helps to differentiate between the differnt times from one point on the Earth to another point.

mass production
Process of making large quantities of a product quickly and cheaply

cash crop
a crop produced for its commercial value rather than for use by the grower.

Andrew Carnegie
Built a steel mill empire; US STEEL

John Rockefeller
Creator of the Standard Oil Company who made a fortune on it and joined with competing companies in trust agreements that made a monopoly.

Cornelius Vanderbilt
United States financier who accumulated great wealth from railroad and shipping businesses (1794-1877)

Transcontinental Railroad
Railroad connecting the west and east coasts of the continental US

Corporation
A business owned by stockholders who share in its profits but are not personally responsible for its debts

Monopoly
Complete control of a product or business by one person or group

Cartel
an association of manufacturers or suppliers with the purpose of maintaining prices at a high level and restricting competition.

Horizontal Integration
system of consolidating many firms in the same business

trust
A monopoly that controls goods and services, often in combinations that reduce competition.

Vertical Integration
Practice where a single entity controls the entire process of a product, from the raw materials to distribution

Social Darwinism
The belief that only the fittest survive in human political and economic struggle.

Interstate Commerce Commission (ICC)
first federal agency monitoring business operations, created in 1887 to oversee interstate railroad procedures

Sherman Antitrust Act
an 1890 law that banned the formation of trusts and monopolies in the United States

Sweatshops
A shop or factory where workers work long hours at low wages under unhealthy conditions

Company Towns
a town owned by a corporation, usually consisting in highly priced housing, groceries, etc.

collective bargaining
negotiation of wages and other conditions of employment by an organized body of employees.

Socialism
A system in which society, usually in the form of the government, owns and controls the means of production.

Knights of Labor
labor union that sought to organize all workers and focused on broad social reforms

Terrence Powderly
Leader of the Knights of Labor

Samuel Gompers
He was the creator of the American Federation of Labor. He provided a stable and unified union for skilled workers.

American Federation of Labor
The first federation of labor unions in the United States. Founded by Samuel Gompers in 1886

Haymarket Riot
1886 labor-related protest in Chicago which ended in deadly violence

Homestead Strike
1892 steelworker strike near Pittsburgh against the Carnegie Steel Company. Ten workers were killed in a riot

Eugene V. Debs
Head of the American Railway Union and director of the Pullman strike; he was imprisoned along with his associates for ignoring a federal court injunction to stop striking.

Pullman Strike
violent 1894 railway workers' strike which began outside of Chicago and spread nationwide

New Immigrants
immigrants who had come to the US after the 1880s from southern and eastern europe

Steerage
the part of a ship providing accommodations for passengers with the cheapest tickets.

Ellis Island
An immigrant receiving station that opened in 1892, where immigrants were given a medical examination and only allowed in if they were healthy

Angel Island
The immigration station on the west coast where Asian immigrants, mostly Chinese gained admission to the U.S. at San Francisco Bay. Questioning and conditions at Angel Island were much harsher than Ellis Island in New York.

Americanization
Belief that assimilating immigrants into American society would make them more loyal citizens

melting pot
A term often used to characterize the United States, with its history of immigration and mixing of cultures, ideas, and peoples.

Nativism
A policy of favoring native-born individuals over foreign-born ones

Chinese Exclusion Act
1882 law that prohibited the immigration of Chinese laborers

Urbanization
Movement of people from rural areas to cities

Rural-urban migration
the movement of people from the countryside to the city

Skyscrapers
Tall building with many floors supported by a lightweight steel frame.

Elisha Otis
Inventor who developed the first safety elevator in 1852.

mass transit
public transportation systems that carry large numbers of people

suburbs
residential areas surrounding a city

Frederick Law Olmsted
a landscape engineer who designed Central Park in New York City and parks in other major U.S. cities

Tenements
Poorly built, overcrowded housing where many immigrants lived

Cholera
an acute intestinal infection caused by ingestion of contaminated water or food

Mark Twain
United States writer and humorist best known for his novels about Tom Sawyer and Huckleberry Finn (1835-1910)

Gilded Age
1870s - 1890s; time period looked good on the outside, despite the corrupt politics & growing gap between the rich & poor

conspicuous consumerism
purchasing of goods and services for the purpose of impressing others

Mass Culture
leisure and cultural activities shared by many people

Joseph Pulitzer
creator of the "New York World;"cut the prices so people could afford it; featured color comics and yellow journalism

William Randolph Hearst
A leading newspaperman of his times, he ran The New York Journal and helped create and propagate "yellow (sensationalist) journalism."

Horatio Alger
Popular novelist during the Industrial Revolution who wrote "rags to riches" books praising the values of hard work

Tin Pan Alley
the name given to the collection of New York City music publishers and songwriters who dominated the popular music of the United States in the late 19th century and early 20th century.

Vaudeville
A type of inexpensive variety show that first appeared in the 1870s, often consisting of comic sketches, song-and-dance routines, and magic acts
