Industrial Revolution Basics
The period from 1865–1900 marked by rapid economic growth in America.
the Second Industrial Revolution
The steel industry giant who later became known for his philanthropy and being a "Captain of Industry".
Andrew Carnegie
The new process that made steel cheaper and stronger.
Bessemer process
Workers joined these organizations to fight for better wages and conditions.
labor unions
The first federal law to regulate railroads and prevent unfair practices.
the Interstate Commerce Act
Two key resources that fueled American industrial development.
coal and iron (or oil, steel, timber, water)
A person who has become rich through ruthless and unethical business practices is known as what?
A Robber Barron
The invention created by Alexander Grham Bell that revolutionized communication in the 1870s.
The Telephone
The union that included both skilled and unskilled workers, women, and African Americans.
Knights of Labor
This 1890 law allowed the government to break up harmful monopolies.
Sherman Antitrust Act
This type of economy, based on free enterprise and limited government, encouraged entrepreneurship.
capitalism (laissez-faire)
Businesses gained advantages by forming these large organizations that could raise money through stocks.
corporations
These two types of stores/distribution methods created new ways to sell goods nationally.
department stores and mail-order catalogs
The 1892 strike at Carnegie’s steel mill that ended with state militia intervention.
the Homestead Strike
The belief system that argued the wealthy were superior and society was based on “survival of the fittest.”
Social Darwinism
The U.S. government supported industrialization with these three policies.
patents, tariffs, and land grants
Florida businessman who developed the Florida East Coast Railroad.
Henry Flagler
Why did the government grant patents and copyrights to inventors?
To promote inventors to chare their discoveries without fear that their idea would be stolen.
These are the two main strategies used by labor unions to push management and factory owners to losten to worker's demands.
Strikes and Collective Bargaining
The ideology that predicted a workers’ revolution and the elimination of private property.
communism
This development created a truly national market by connecting cities across the country.
railroads
How did John D. Rockefeller build his wealth in the oil industry
Bought out competitors and created a monopoly
This invention, by African-American inventor Garrett Morgan, improved traffic safety.
the traffic signal (traffic lights)
The 1894 strike broken by federal troops under President Cleveland.
The Pullman Strike
The political and economic ideology that protects ownership of private property and encourages a free-market society where business compete on the open market to make the best goods for the cheapest.
Capitalism