Inventions & Inventors
Invented telephone; world-wide communication
Alexander Graham Bell
Who was one of the major bankers during the Industrial Revolution?
JP Morgan
What was the French word called that said the government would be hands off in the economy?
Laissez-Faire
What developed to get better pay and conditions for workers?
Labor Unions
Period when a few people in the US became very wealthy, while the majority struggled to survive
Gilded Age
Inventor of the cotton gin which led to an increase in the demand for slaves.
Who is Eli Whitney?
Owned United States Steel and bought the Carnegie Steel Company in 1901
JP Morgan
Business owners tried to get rid of competition by owning entire product or service in an industry?
Monopoly (trust)
A foundational law aimed at promoting free and fair competition in the marketplace by prohibiting monopolization of interstate commerce.
What was the Sherman Anti-Trust Act?
Journalists who exposed corruption and wrongdoing in big business and government. They focused on issues like poverty, unsanitary conditions, and the power of monopolies, often through sensationalist publications.
Who were the Muckrakers?
Scottish immigrant who had a monopoly in the steel industry and was a philanthropist. Author of "The Gospel of Wealth".
Who is Andrew Carnegie
True or False: The Gospel of Wealth by Andrew Carnegie encouraged wealthy people to be philanthropists and share their fortune by donating money to charitable causes.
True
The growth of business that manufacture products through the use of machinery
industrialization
Photographer who documented harsh reality of urban poverty and slums of NYC.
Who was Jacob Riis?
This was a major railroad strike and boycott in 1894 that paralyzed rail traffic in the U.S. Midwest.
What was the Pullman Strike?
Method of making steel stronger and cheaper brought to the US
Bessemer Process
John D. Rockerfeller
Someone who became wealthy from exploiting workers and natural resources or by receiving preferential treatment
Robber Baron
Economic system in which resources and the means of production are privately owned and determined by competition
Capitalism
Replaced small shops and the home/cottage industry as the main means of production with increased technology and a central location for employees to work.
What is a Factory System?
Invented the lightbulb.
Who is Thomas Edison
American business magnate who amassed the largest fortune in the U.S. at the time of his death in 1877. He built his wealth in shipping and railroads, monopolizing rail lines from Chicago to the east coast.
Who was Cornelius Vanderbilt
Entrepreneur
Business owners fought back against unions, sometimes creating a ______ with former employee names.
Blacklist
This Act excluded Chinese laborers from entering the USA.
What is the Chinese Exclusion Act of 1882?