Industrialization
Who dominated the steel industry?
Andrew Carnegie
What is a monopoly?
Exclusive possession or control of the supply in a commercial activity.
Why were Labor Unions formed during the Industrial Revolution? What were they fighting for?
They were formed due to the bad working conditions in the factories. They were fighting for a shorter workday, shorter work week, high wages, safer and more sanitary working conditions, and no child labor.
What was the "hands off" policy used by the government?
Laissez-faire
What is a push factor? Give an example of one.
Something that pushes an immigrant out of their country. Examples: lack of jobs and opportunity, war, corruption, political instability, lack of security and safety, and religious prosectuion.
How did technological advancements shape industry in America?
It made the production of goods faster, more efficient, and cheaper.
Who created an oil monopoly?
John D. Rockefeller
What were the methods used by Labor Unions?
Strikes, collective bargaining, and boycotting.
What policy aimed to limit monopolies and restore competition in the marketplace?
Sherman Antitrust Act
What is a pull factor? Give an example of one
Something that pulls you to another country(America). Examples: Job opportunity, freedom, higher wages, better education, an opportunity to live a better life.
What is philanthropy?
The practice of giving money, time, or resources to help make the world a better place and improve the well-being of others.
Why is a monopoly dangerous to the economy?
It eliminates competition, raises prices, and reduces variety within an industry.
What methods were used by management?
Lockouts, blacklisting, yellow dog contracts, and injunctions and government support.
What did the Interstate Commerce Act aim to do?
Regulate the railroad industry by ensuring "reasonable and just" rates.
Why were immigrants settling in urban areas?
Job opportunity
What factors led to America becoming Industrialized?
They had an abundance of raw materials(coal, iron, steel, oil).
What else was Rockefeller's Oil Industry controlling besides smaller companies? What does this say about the wealth and power of Rockefeller?
The oil industry was also controlling the government. It says that Rockefeller is more powerful than the government.
What was the outcome of most strikes performed by Labor Unions? What does this say about the government?
They would send federal troops to put down the strikes. It says the government supports the employers and not the unions.
What was the Native born Americans' fear that new immigrants would do?
They feared they would create job competition and that new immigrants would ruin the American culture.
What kind of people were America welcoming into the country?
The poor, the unwealthy, the ones experiencing war, the ones who are not free, the jobless, the ones facing political corruption and religious persecution. Everyone was welcome.
Why were railroads so important during the Industrial Revolution?
They made the transportation of goods much quicker and a lot cheaper.
Why were Rockefeller, Vanderbilt, Carnegie, and Morgan considered "Robber Barons"?
They eliminated competition through monopolies, became too powerful, participated in unfair business practices, and imposed low wages and harsh working conditions on employees.
What Labor Union consisted of Skilled workers only?
The American Federation of Labor
What did white Americans blame Chinese immigrants for?
White Americans blamed Chinese immigrants for low wages and unemployment.
Where were the "new" immigrants coming from?
Southern and Eastern Europe