Captains of Industry and Robber Barons
Scottish immigrant who made a fortune through vertical integration of the steel industry
Andrew Carnegie
A decrease in the value of money
Deflation
The biggest American labor union
The AFL
The population tripled in the industrial age for these two reasons
Immigration and medical advances
A company owned by many people and treated by the law as a person
Corporation
Possibly the richest man who ever lived; made his fortune through horizontal integration of the oil industry
John D. Rockefeller
Total control of a type of industry by one person or one company
Monopoly
Someone tossed a bomb during a labor meeting at ________________
Haymarket Square
Oil production rose because of this
The invention of the automobile
A person who organizes and assumes the risk of a business
Entrepreneur
J.P. Morgan
The total value of goods and services produced by a country during a year
Gross National Product (GNP)
Refusal to let employees enter the building
Lockout
Why did workers form unions in the early 1900s?
Better hours, better pay, safer working conditions
Samuel Gompers
His laboratory at Menlo Park created a number of inventions such as the phonograph, the movie camera, and the lightbulb
Thomas Alva Edison
A court order whereby one is required to do or to refrain from doing a specified act
Injunction
Andrew Carnegie hired Henry Frick to break a strike at his _____________ plant.
Homestead
What new types of retail emerged in the early 1900s?
Department stores and chain stores
Purchasing companies at all levels of production
Vertical integration
Railroad and shipping magnate who was one of the richest men in America
Cornelius Vanderbilt
A policy that government should interfere as little as possible in the nation’s economy; "hands off"
laissez-faire
______________ led the American Railworkers Union in a strike in solidarity with Pullman car porters
Eugene V. Debs
Name three things that we have discussed that a country needs to industrialize
Capital, a large labor force, favorable government policies, natural resources
Name two methods employers used to oppose unions
Non-union contracts, lockouts, scabs, the courts