This says government should stay out of business except to protect property rights and maintain peace.
What is laissez-faire?
Government grants of land and money helped the transcontinental railroad be built but the these ethnic groups were hired cheap to do most of the actual work.
What are the Irish and Chinese?
Horizontal integration can sometimes lead to this control of an entire industry, not unlike what happens in the game.
What is a monopoly?
Employers would use this tactic when they refused to let union employees into the business, thus they were not paid because they did not work.
What is a lockout?
This gradual fall of prices led to employers' cutting wages which angered workers.
What is deflation?
The rapid growth of this economic measure of the total value of goods and services produced by the nation was part of how the US became an industrial power.
What is gross national product?
The railroads success had other positive benefits on society including farmers having more access to customers, growth of related industries like steel, and the development of this to help unite our clocks.
What are time zones?
His company is the subject of the cartoon.
Who is John D. Rockefeller?
The first national strike resulted in violence after President Hayes sent in federal troops to stop the "insurrection."
What is the Great Railroad Strike?
An organization that carries on an activity but is treated by law as if they were a single person.
What is a corporation?
This factor of industrialization was the result of immigration, larger families, and technology changes on farms.
What is a larger workforce?
The passage of this law helped spark the railroad boom.
What is the Pacific Railway Act?
He used vertical integration to create his steel company.
Who is Andrew Carnegie?
This labor union led by Terence Powderly opposed strikes but believed in arbitration (third party helps settle negotiations) and welcomed women and African Americans.
What is the Knights of Labor?
Standard Oil created this which put other people's companies in the control of Rockefeller legally and the success of this led to other industries doing the same which created a new form of monopoly.
What is a trust?
This factor of industrialization was the result of new types of businessmen willing to take the risks to start new businesses.
What is an entrepreneur?
James J. Hill built this successful railroad without government help, which was very different from most other successful railroad lines.
What is the Great Northern Railroad?
This reduces the cost of a good by producing more of it at a faster rate.
What is economies of scale?
This strike by American Railroad Union after wages were decreased and rents were increased led to President Cleveland sending in troops to protect the mail delivery by trains and issued an injunction court order to stop) against the strike.
What is the Pullman Strike?
This violence in Chicago was unjustly blamed on unions, specifically the Knights of Labor, and led to the negative image for unions.
What is the Haymarket Square Riot?
Better transportation was a factor of industrialization that was mostly based on the growth of this important form of transportation.
What are the railroads?
Allegations of bribery and fraud led to railroad entrepreneurs like Vanderbilt and Gould being called this.
What are robber barons?
These do not produce anything but make money by investing in other companies that do, essentially piggybacking off their success but sometimes taking control of the company.
What is a holding company?
This four month Pennsylvania strike against Carnegie's company because of wage cuts and a lockout resulted in violence between strikers and Pinkerton security before the governor brought in troops.
What is the Homestead Strike?
This union led by Samuel Gompers focused on skilled workers and pushed for closed shops, union recognition of collective bargaining rights, and an 8 hour workday.
What is the American Federation of Labor (AFL)?
What is Menlo Park, NJ?
Credit Mobilier was a construction company created and owned by Union Pacific Railroad which hired its own company to build the railroad at inflated costs leading to bankruptcy until the company bribed these people for bailout money.
What is Congress?
He made his money in investment banking and eventually will buy out Carnegie's company to create US Steel.
Who is JP Morgan?
She famously organized the mine workers into a strong union that still exists today - the United Mine Workers.
Many people distrusted unions as un-American because they were associated with this man's writings about the need to get rid of economic systems like the the US had in favor of workers' collective ownership of businesses.
Who is Karl Marx?