Captains of Industry or Robber Barons?
Founded Standard Oil and used horizontal integration to dominate oil refining.
Who is John D. Rockefeller?
Business structure that limits owner liability.
What is a corporation?
Organizations formed to protect workers’ rights.
What are labor unions?
Economic philosophy supporting minimal government regulation.
What is laissez-faire?
Movement of people from farms to cities.
What is urbanization?
Advocated the “Gospel of Wealth” and donated millions to education.
Who is Andrew Carnegie?
Strategy controlling every stage of production.
What is vertical integration?
1892 strike involving Carnegie Steel and private security forces.
What is the Homestead Strike?
1890 law aimed at breaking up monopolies.
What is the Sherman Antitrust Act?
Housing for working-class immigrants in cities.
What are tenements?
Built a railroad empire through consolidation and rate manipulation.
Who is Cornelius Vanderbilt?
Strategy eliminating competition by buying rivals.
What is horizontal integration?
Nationwide strike disrupted rail traffic in 1894.
What is the Pullman Strike?
Federal law regulating railroad rates.
What is the Interstate Commerce Act?
Result of mass production lowering prices.
What is increased consumer access?
Inventor whose research lab symbolized applied industrial science.
Who is Thomas Edison?
Legal arrangement used to reduce competition and fix prices.
What is a trust?
Inclusive labor union led by Terence Powderly.
What is the Knights of Labor?
Branch of government that often sided with businesses.
What is the judicial branch?
Dangerous conditions commonly faced by industrial workers.
What are unsafe working conditions?
Term used by critics to describe unethical industrial leaders.
What are robber barons?
Economic condition where one company controls an entire industry.
What is a monopoly?
Union focused on skilled labor and collective bargaining.
What is the American Federation of Labor (AFL)?
Term describing increasing federal regulation of business.
What is progressive reform?
Growing divide between wealthy elites and laborers.
What is economic inequality?