Big Changes
Thomas Edison invented___________, allowing lights and power to be used across American lives and cities.
Electricity (Electric Lights)
When you are willing to risk your own MONEY on new businesses (and make profit) is called__.
(Entrepreneur= Bold risk takers who create new businesses)
Capitalism
Bonus Question: What was the French Word called that said the government would be hands off in the economy?
Name one president that allowed scandal and corruption in the government, such as the Credit Mobilier Scandal (railroad company corruption) OR allowing Reconstruction to end?
Ulysses S. Grant or Rutherford B. Hayes
This was the name of a derogatory term applied to wealthy industrialists and captains of industry
Bonus: What are two positive things they arguably did?
Robber barrons
the economic philosophy where government staying out of economic activity
“laissez-faire”
A person who is prejudiced towards immigrants
What is a nativist?
Business owners tried to get rid of competition by owning entire/product or service in an industry. This is called a________ (Hint: Like the board game)
Monopoly/Trusts
Bonus question: What's the difference between the two?
What was the name of the man that used bribery and voter fraud to take advantage of immigrants and corrupt officials in government?
Boss Tweed
Bonus question: The group that he used to control the government was called Tammany Hall. This mafia, political like group was called_____.
the negotiation of pay and working conditions between bosses and employees
What is collective bargaining?
economic state where competition decreases but prices increase
What is a monopoly?
Alexander Graham Bell invented the________, allowing people to communicate through voice for the first time in America.
Telephone
Mark Twain coined the term_________, a period of time that showed America was glittering on the surface but was corrupt and impoverished underneath.
Gilded Age (Gild- To cover thinly with gold)
This Supreme Court case, Plessy v. Ferguson legalized discrimination--- stating, separate was____.
Equal
This reformer sought to help immigrants adjust to their new life in America.
Who is Jane Addams?
Robber baron is a derogatory term used to describe a ____________.
Ruthless businessman
The Bessemer process allowed bigger and taller buildings to be made from steel. These were called_____.
Skyscrapers
the growth of businesses that manufacture products through the use of machinery
what is industrialization?
Hunington and Vanderbilt were _______ robber barrons of the industry, overcharfing farmers and making immigrants suffer in harsh working conditions
Railroad company
a big business owned by many investors
what is a corporation?
a factor that brought immigrants to the U.S. throughout its history is a ______________.
Pull factor
Many Immigrants who came during the gilded age lived in this type of building.
What is a Tenement?
This innovation in factories created a more efficient production of goods, making goods cheaper and more widely available to Americans
What is the assembly line?
JP Morgan controlled the_________ industry; Rockfeller controlled the___________ industry; and Carnegie controlled the_________ industry.
Morgan- Banking; Rockefeller- Oil, Carnegie- Steel
An economy where businesses make the decisions about how much to produce and at what price
what is a capitalist economy?
A common technique used by labor unions, where groups of employees refuse to work until their demands are met, is called ___________.
What is a strike?