Gilded Age
Time period during the late 1800's and early 1900's that was characterized by industrlization, growth of monopolies, political corruption, and unions.
What is The Gilded Age?
An economic system that allows individuals to have economic freedom with limited government interference.
What is free enterprise?
When one buisness dominates the supply of a particular good or service.
What is a monopoly?
Organization of workers that join together to protect workers from long hours, low wages, and bad working conditions
What is a union?
Allowed for factories to stay open later. Perfected by Thomas Edison.
What is the light bulb?
Someone who starts a business and risks their own money with the hope of getting rich.
What is an entrepreneur?
Started the Standard Oil Company. Controlled 90% of the oil industry. Donated $500 millon to charity.
Who was John D. Rockefeller?
First major labor union. Accepted skilled and unskilled workers
What is the Knights of Labor?
Allowed for long distance communication. Invented by Alexander Graham Bell
What is the telephone?
Connected the East and West coasts of the United States and encouraged economic growth by creating national markets
What is the Transcontinental Railroad?
Created a steel company that controlled most of the United States steel industry. Gave 90% of his money to charities that built libraries.
Who was Andrew Carnegie?
Largest labor union. Accepted only skilled workers
What is the AFL (American Federation of Labor)
Allowed for mass production of stronger, cheaper steel and allowed for skyscrapers, railroads, and bridge construction
What was the bessemer process?
A group that lobbied for Congress to pass legislation to protect farmers interests
What was the Grange movement
Allowed the U.S government to break up monopolies
What was the Sherman Anti-Trust Act?
Railway strike that disrupted U.S mail delivery. The army was sent to stop the strikers.
What was the Pullman Strike?
Required all freight and passenger railway rates to be reasonable and fai
Interstate Commerce Act
A bomb was thrown into a crowd during a workers rally by an anarchist. Three cops were killed and workers were blamed for it. Labor Day came out of the affair.
What was the Haymarket Affair?