Economic Systems
In capitalism, prices are decided by these people, not the government.
Business owners
This businessman controlled the oil industry.
John D. Rockefeller
The late 1800s in American history is known as this era.
Gilded Age
Many workers during the Gilded Age were members of this group.
Immigrants
The strike showed employers that workers could be this when united.
Powerful
This phrase means the government should stay out of business affairs.
Laissez-faire
Rockefeller’s company was called this
Standard Oil
What does the word Gilded mean?
Covered in gold
Employers hired women and children because they could be paid this.
Lower wages
This major strike shut down much of the nation’s railroads in 1877.
The Great Railroad Strike
This economic system allows individuals to own businesses and property.
Capitalism
This businessman dominated the steel industry.
Andrew Carnegie
During the Gilded Age, many small businesses did this.
They disappeared
One method unions used to demand change.
Strike
One major goal of the Knights of Labor.
End Child Labor
This idea said wealthy people had a duty to help society.
Gospel of Wealth
This strategy involved buying out competitors.
Horizontal Integration
These industries were controlled by large corporations.
Railroads, steel, oil
Workers formed these groups to gain power together.
Labor Unions
The Knights of Labor allowed these groups to join.
Women and African Americans
This belief said the strongest businesses and nations should survive.
Social Darwinism
Carnegie used this strategy to control every step of production.
Vertical Integration
This term describes wealthy people showing off their money.
Conspicuous Consumption
During the Panics of 1873 and 1893, worker wages did this.
They dropped
This labor union was led by Samuel Gompers.
The American Federation of Labor (AFL)