Foundations of Economic Growth
This economic system allows private ownership of factories and tools.
What is capitalism?
He invented the sleeping car for trains.
Who is George Pullman?
He developed the telegraph and a code to transmit messages.
Who is Samuel Morse?
He led the steel industry and promoted philanthropy.
Who is Andrew Carnegie?
He partnered with Rockefeller and built Florida’s tourism industry.
Who is Henry Flagler?
This theory claimed poverty was the fault of the poor and success came from superior talent.
What is Social Darwinism?
This invention by George Westinghouse allowed trains to stop all cars simultaneously.
What is the air brake?
He laid the first transatlantic cable
Who is Cyrus Field?
He formed Standard Oil and controlled 90% of oil refining.
Who is John D. Rockefeller?
This hotel built by Flagler is now a college in St. Augustine.
What is the Ponce de Leon Hotel?
This government policy protects American manufacturing by taxing foreign goods.
What are tariffs?
The expansion of railroads led to the creation of these standardized divisions of time.
What are time zones?
He patented the telephone.
Who is Alexander Graham Bell?
This term describes owning all companies at one stage of production.
What is horizontal integration?
Flagler’s railroad connected Jacksonville to this southernmost point.
What is Key West?
This system gives inventors exclusive rights to their inventions.
What is the patent system?
This process made steel production over 80% cheaper.
What is the Bessemer process?
He invented the phonograph and the electric light bulb.
Who is Thomas Edison?
This act outlawed trusts that restricted interstate trade.
What is the Sherman Antitrust Act?
This railroad helped export Florida’s agricultural goods.
What is the Florida East Coast Railroad?
This phrase describes minimal government interference in the economy.
What is laissez-faire capitalism?
This phrase means inventions arise from urgent needs.
What is "Necessity is the mother of invention"?
He developed a motor for alternating current electricity.
Who is Nikola Tesla?
He bought Carnegie Steel and formed the first billion-dollar company.
Who is J.P. Morgan?
Flagler’s developments helped grow this Florida industry.
What is tourism?