Industrial Innovations
This person used assembly-line principles to mass-produce cars, reshaping the economy and cultural life.
Henry Ford
This "Robber Baron" founded the Standard Oil Company.
John D. Rockefeller
This type of integration involves taking over different businesses that a company relies on for its primary function.
Vertical Integration
This group peaked during this time as they formed groups that discriminated against immigrants
Nativists
This idea used natural selection to justify why people were rich and why people were poor.
Social Darwinism
Pittsburgh became the center of this industry due to its abundance of iron and pre-existing industry.
Steel Industry
This steel magnate controlled almost two-thirds of U.S. steel production.
Andrew Carnegie
This agreement allowed stockholders to transfer their shares to trustees in exchange for profits.
Trust Agreement
These two groups of people were forced to work often because their families needed the extra wages
Women and children
This term, defined by Adam Smith, argued that the economic system was guided by the invisible hand of market forces.
Law of Supply and Demand
These brothers created a glider powered by an internal combustion engine.
Wright Brothers
Known as a financier, this person merged businesses to consolidate operations and improve profitability.
J.P. Morgan
This modern corporation feature allowed people to buy shares and limited investors' liability.
Limited Liability
This group of people were the major workforce that built the transcontinental railroad.
Chinese immigrants
This idea contrasted Social Darwinism by suggesting wealthy people should give back and contribute to the community.
The Gospel of Wealth
This process, developed in 1855, improved steel production by blowing air through molten iron to remove impurities.
Bessemer Process
This railroad magnate was known for saying, "What do I care about the law? H’aint I got the power?"
Cornelius Vanderbilt
Rockefeller established this structure to formally own and control companies within a trust.
Holding Company
Immigrants came from these two regions of Europe instead of Northern Europe (Germans/Irish/English) previously.
Southern and Eastern Europe
By the end of the century, a growing number of people became deeply concerned about the growth of these economic powerhouses.
Monopolies
This method, developed in 1868, replaced the Bessemer process by melting scrap and iron into steel in a furnace.
Open-Hearth Process
This person operated a fleet of ore ships and controlled steel production from mine to market.
Andrew Carnegie
The state that changed its incorporation laws in 1889 to permit the buying of companies by other companies.
New Jersey
This law permitted employers to pay the passage of workers in advance and deduct the amount later from their wages
Contract Labor Law
This utopian book written by Edward Bellamy became extremely popular, in which it describes the combination of all large trusts into one great trust.
Looking Backward