Vocab
This is anything you own that has value or is useful.
Assets
Whose side did the government usually take when it came to strikes and workers unions?
Factory Owners/Businesses
This man spread the use of the assembly line in America by using it to create automobiles.
Henry Ford
This was the amount of hours a day most laborers worked in the new industrial factories.
10-12+
This started in 1859 when an important natural resource was found in Pennsylvania
Oil Rush
This is the merger of many smaller companies into a few much larger ones.
Consolidation
The Sherman Antitrust Act was meant to ban formation of these two things, but was weak and ineffective for many years.
Trusts and Monopolies
This man started the Standard Oil Company of Ohio and created the Standard Oil Trust, using Horizontal Integration to create a monopoly on oil
J.D. Rockefeller
Name two of the reasons why working conditions in factories were so bad during this time period.
Noisy, Crowded, Explosions, Gas, etc.
This is the process of a company increasing production of goods or services at the same part of the supply chain. For example, a person who owns a retail store may buy other retail stores.
Horizontal Integration
This is the name of the economic system in which a country’s trade & industry are controlled by private owners, not the government, to create profit.
Capitalism
This act helped farmers a little by regulating the railroad industry to offer “reasonable and just” transportation rates and fixed some of the issues with railroads but was weak for many years.
Interstate Commerce Act
This man used the Bessemer Process to make stronger and cheaper steel to lead the expansion of the American steel industry
Andrew Carnegie
Many workers formed these groups in order to join together for better working conditions.
Unions
Saying that big business leaders like Andrew Carnegie created jobs, increased production, provided cheap products, gave back (Philanthropists), and helped build the nation are arguments that they are this.
Captains of Industry
This is the full name of a stock’s market launch or the first time a stock is offered to the general public.
IPO
The Interstate commerce Act was meant to help this group of Americans who needed to get their goods to market at a reasonable price
Farmers
This man who had humble beginnings in the ferry industry built up his wealth through railroads and became one of the richest men in American history.
Cornelius Vanderbilt
Due to a few violent ones of these, the public mostly opposed this activity. But the activity did grant workers some gains like a small wage raise.
Strike
The majority of immigrants that came to the United States between 1877-1912 came from two war-torn regions of these areas of Europe.
Southern and Eastern
This is a market in which securities, or stocks, are bought and sold
Stock Market
Many of the government legislation passed during this time period was weak and ineffective until this President came with his “big stick” to crack down big business.
Teddy Roosevelt
This man used his banking profits to gain control of big corporations, taking control of major rail lines and the steel industry.
J.P. Morgan
One of the deadliest industrial disasters in the history of New York City, this was the name of the sweatshop where 146 people, mostly women and children, died due to a fire breaking out on the buildings top floors.
Triangle Shirtwaist Factory Fire
Name 3 reasons that people argued industrialist leaders like J.D. Rockefeller should be called Robber Barons.
Exploit workers, corrupted the government, pushes out small business, creates idea of “Social Darwinism”, manipulate business & politics, makes people GREEDY