Causation
How did railroads contribute to industrial capitalism?
Railroads connected markets, reduced costs, and accelerated trade.
•How did the Civil War’s aftermath set the stage for industrial growth?
The Civil War destroyed old systems (slavery/plantations), increased industrial investments, allowed for more westward expansion.
Identify a significant cause of industrial capitalism’s rise.
Railroads/ westward expansion/ technological innovation/ world trade/ rise of trusts and monopolies
Define Vertical Integration.
Vertical Integration is controlling all production aspects of a particular product
What impact did urbanization have on industry?
Urbanization created labor pools and consumer markets.
Name one technological innovation that advanced industrial growth.
Examples include the Bessemer Process, telephone, and electricity.
•What was the global economic trend in the late 19th century?
Global trends like mechanization, industrialization and trade expansion influenced the U.S.
•How did capitalism exacerbate inequality?
Industrial capitalism created a stark divide between rich and poor.
Explain Horizontal Integration.
Horizontal Integration is controlling one production level through the purchasing/ take over of competition
How did labor supply support industrial growth?
Immigrants and migrants provided abundant labor for industries.
•How did government policies like tariffs encourage development?
Tariffs protected domestic industries and promoted domestic purchases; land grants spurred railroad/factory construction.
How did Social Darwinism justify capitalism.
Social Darwinism justified wealth inequality and industrialist practices by associating wealth and power with ability and skill
•Name a labor union and its role during this era.
The Knights of Labor and AFL fought for better wages and conditions.
What is the Bessemer Process?
The Bessemer Process made steel production faster and cheaper.
Name a monopoly and its industrial leader.
Standard Oil (Rockefeller) dominated the oil industry.
American Steel (Carnegie) Steel industry
•Explain how natural resources fueled industrial growth.
Resources like coal, oil, and iron fueled factory production and innovation.
Describe the connection between capitalism and westward expansion.
Westward expansion provided resources/ new markets/ and cheap land
What laws addressed industrial monopolies?
Sherman Antitrust Act addressed monopolistic practices.
Define the term “Trusts.”
Trusts are business arrangements to control markets/ all aspects of production.
What was the purpose of the Knights of Labor?
The Knights of Labor advocated for workers' rights and an 8-hour day.
Describe the role of entrepreneurs like Andrew Carnegie.
Carnegie and Rockefeller used Horizontal/ Vertical integration to accumulate wealth and and expand industry. promoted the wealth gap
How was the Second Industrial Revolution distinct?
The Second Industrial Revolution featured advanced technology/ larger national markets/the development of the ultra rich/ more industry
What Progressive Era reforms were caused by unregulated capitalism?
labor laws, trust-busting, and regulation, temperance movement, women's suffrage
How did the Interstate Commerce Act regulate industry?
The Act regulated railroad rates to prevent unfair practices.
What role did financial institutions play in capitalism?
Banks provided capital (loans) for industrial expansion.