Transcontinental Railroads
Pivotal in connecting the eastern United States with the Pacific coast, facilitating trade, travel, and communication across vast distances. The first line, completed in 1869, was the result of the union of the Central Pacific and Union Pacific railroads.
Panic of 1893
Major economic depression in the United States, which was triggered by the collapse of railroad overbuilding and shaky railroad financing. It led to bank failures, business bankruptcies, and widespread unemployment that lasted from 1893 to 1897.
Second Industrial Revolution
Occurring from the late 19th century into the early 20th century, was characterized by technological innovations such as electricity, the internal combustion engine, and advancements in steel production, which spurred rapid industrial growth and urbanization.
Bessemer Process
Developed by Henry Bessemer in the 1850s, was the first inexpensive industrial process for the mass production of steel from molten pig iron, which revolutionized steel manufacturing and played a crucial role in the construction of railroads, buildings, and infrastructure.
Andrew Carnegie
Prominent industrialist and philanthropist who led the expansion of the American steel industry in the late 19th century. His business strategies, including vertical integration, allowed him to dominate the market and significantly reduce production costs. He is also known for his philanthropic efforts, including the establishment of libraries and educational institutions.
Vertical Integration
Business strategy where a company acquires control over multiple stages of production, from raw materials to finished goods. This strategy allows businesses to improve efficiency, reduce costs, and eliminate reliance on external suppliers, leading to increased profit margins.
Protestant Work Ethic
Refers to a cultural value that emphasizes hard work, discipline, and frugality as a display of a person's faith and salvation. This ethic became a foundational concept for American capitalism and influenced the business practices of many industrialists.
Horizontal Integration
Business practice where a company increases production of goods or services at the same part of the supply chain. This can include mergers and acquisitions with competitors to increase market share and reduce competition.
Sherman Antitrust Act
Passed in 1890, was the first federal legislation that prohibited monopolistic business practices. It aimed to promote competition and prevent the formation of monopolies that could harm consumers and stifle innovation.
Social Darwinism
Social theory that applies the concept of natural selection to human societies, suggesting that those who are successful in life have exhibited 'survival of the fittest' qualities. This theory was often used to justify social inequality and imperialism in the late 19th and early 20th centuries.
Gospel of Wealth
A philosophy created by Andrew Carnegie, which argued that the wealthy have an obligation to give back to society. Carnegie believed that philanthropists should use their riches to improve societal conditions and support public goods.
White-Collar Workers
Refer to employees who perform professional, managerial, or administrative work, typically in offices or other professional settings. This class emerged alongside the growth of industries and the expansion of the middle class in the late 19th century.
Middle Class
A social class between the upper class and lower class, often characterized by moderate incomes, education, and a lifestyle based on consumption. The growth of the middle class in America corresponded with the Second Industrial Revolution, leading to increased consumerism and social mobility.
Iron Law of Wages
An economic theory proposed by David Ricardo that suggests that wages naturally settle at a level sufficient to sustain the life of the worker, implying that higher wages would lead to increased population and competition, ultimately driving wages back down.
Scab
A term used in labor relations to refer to a worker who continues to work or takes a job during a strike, breaking the strike and undermining the bargaining power of labor unions.
Lockout
A workplace action in which an employer prevents workers from entering the workplace during labor disputes, often as a tactic to compel the workforce to accept terms of employment.
Blacklist
A list of people or organizations that are denied certain privileges due to their actions, often used in labor disputes to identify union members and prevent them from being hired by other employers.
Yellow-Dog Contract
An agreement between an employer and an employee in which the employee agrees not to join a union or is prevented from engaging in union activities. This practice was common in the early 20th century until later deemed illegal.
Injunction
A legal order issued by a court that compels a party to do or refrain from specific acts. In labor disputes, injunctions were often used against strikes and protests to limit workers' rights.
Knights of Labor
One of the most significant early labor organizations in the United States, founded in 1869. It sought to unify all workers, regardless of skill level or trade, and advocated for a broad range of social reforms.
American Federation of Labor (AFL)
Founded in 1886 and became one of the largest and most influential labor unions in the United States, representing skilled workers and emphasizing collective bargaining over political action.
Samuel Gompers
Key figure in American labor relations, serving as the first president of the American Federation of Labor. He advocated for labor rights, better wages, and working conditions, and promoted the idea of trade unions as a means of protecting workers' interests.
Homestead Strike
Major industrial strike that took place in 1892 at the Carnegie Steel Company's Homestead Works in Pennsylvania. It was marked by violent clashes between strikers and private security agents, reflecting the intense labor conflicts of the time.
Eugene V. Debs
A labor leader and socialist politician who founded the American Railway Union and led major strikes, including the Pullman Strike of 1894. He became a prominent advocate for workers' rights and social justice.
In re Debs
A landmark United States Supreme Court case that upheld the federal government's authority to issue injunctions against strikes, reinforcing the government's position on labor disputes and the use of federal power to break strikes.
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