Steel
This process, developed in the 1850s, allowed steel to be made faster and cheaper than ever before.
What is the Bessemer Process?
This businessman founded Standard Oil and became a symbol of monopoly power.
Who is John D. Rockefeller?
This invention helped to establish a true national market, time zones, and led to the growth of cities.
What are trains?
Alexander Graham Bell invented this technology that allowed for instant communication between people, industries, and suppliers.
What is the Telephone?
This type of economic system allowed industrialists to invest freely and make profits.
What is Capitalism or a Free Market Economy?
The rapid growth of this type of transportation in the 19th century greatly increased the demand for steel in the United States.
What are railroads?
Rockefeller used this business strategy to buy out or control competitors and dominate the market.
What is Horizontal Integration?
Pullman cars provided this service for passengers on long train trips.
What are Pullman Sleeping Cars?
Thomas Edison invented this technology which allowed factories to stay open late for longer working hours.
What is the light bulb?
This practice is when one company has complete control over the supply of a product or service eliminating any real competition.
What is a Monopoly?
This American industrialist is known as the “King of Steel” and founded the Carnegie Steel Company.
Who is Andrew Carnegie?
This invention, created by Elijah McCoy, automatically lubricated train engines and made railroads run more efficiently.
What is the oil-drip cup?
This George Westinghouse invention changed transportation in the US by reducing the number of railroad accidents.
What is the airbrake?
While Henry Ford is known for the Ford vehicle, he utilized this system in his factories which increased mass production.
What is the assembly line?
This French term literally means “hands-off” and describes minimal government interference in business.
What is Laissez-Faire?
Carnegie controlled every step of the steel production- iron mines, coal fields, railroads for transport, steel mills-which is this type of integration.
What is Vertical Integration?
Standard Oil was broken up in 1911 under this federal law.
What is the Sherman Anti-Trust Act?
These Florida industrialists brought tourism to the state through their railroad networks.
Who are Henry B. Plant and Henry Flagler?
This African American woman laid the foundation for the African American beauty industry which opened new opportunities for Black entrepreneurship.
Who is Madam C.J Walker?
This economic theory justified the concentration of wealth among industrialists who were deemed the most “fit” to lead society.
What is Social Darwinism?