Big Business Rises
A company recognized as a legal unit that has rights and responsibilities separate from its members
What is a corporation?
A person who builds and manages a business in order to make a profit
Entrepreneurs
The economic system we currently live under
What is capitalism?
Small factories where employees had to work long hours under poor conditions for little pay
What is a sweatshop?
The economic theory that says that the means of production(M.O.P) should be owned and regulated by the workers
What is socialism?
Exclusive control by one company over an entire industry
What is a monopoly?
An economic system in which private business operates in competition and largely free of state control.
What is Free enterprise/Capitalism?
The three main groups under capitalism
What are the owning class, the working class, and the lower/criminal class?
Communities that were owned by companies where the people living there had to work in that community
What is a company town?
The 1886 labor protest that ended in deadly violence
What is The Haymarket Riot?
The American businessman who dominated the oil industry
Who is John D. Rockefeller?
A theory advocating minimal government interference in the economy
What is Laissez-Faire?
The goal of the owning class under capitalism
The RADICAL labor union
Workers refusing to work until their demands are met
What is a strike?
Corporations did this with their wealth
What is fund new technology or enter new industries?
Production of goods in large numbers through the use of an assembly line
What is mass production?
The means of production are owned this way under capitalism
What is privately?
The moderate labor union
Who are the American Federation of Labor/AFL?
The reason the south had to change after the civil war
What is industrialization?
This is the reason the Sherman Anti-Trust Act was passed
Corporations and big businesses had unfair practices as well as poor wages and working conditions.
The reason why southern leaders called for a "New South"
What is the South grew slowly?
The money that is kept by the boss after workers are paid
What is profit?
The first president of the AFL
Samuel Gompers
The wife of Albert Parsons(one of the Haymarket martyrs)
Who is Lucy Parsons?