Industrialists
This industrialist founded a major steel company and later became a philanthropist.
Who is: Andrew Carnegie
What group was most harmed by low wages and high rent in cities?
Who are: industrial workers (working class)
This 1887 act aimed to regulate railroad rates.
What is: The Interstate Commerce Act
An economic system in which private individuals own businesses and seek profit.
What is: capitalism
This successful industrialist controlled standard oil.
Who is: John D. Rockefeller
This group organized skilled workers and was led by Samuel Gompers.
What is: The American Federation of Labor (AFL)
This act allowed the government to break up monopolies.
What is: The Sherman Antitrust Act
A market condition where one company controls an entire industry.
What is: monopoly
This industrialist made his fortune controlling railroads and was known as the "Commodore".
Who is: Cornelius Vanderbilt
This labor union accepted both skilled and unskilled workers.
What are: The Knights of Labor
This amendment established the federal income tax.
What is: The 16th Amendment
The practice of one company controlling all steps of production.
What is: vertical integration
This financier helped reorganize railroads and controlled large parts of the banking industry.
Who is: J.P. Morgan
This 1894 strike against the Pullman Company disrupted rail traffic nationwide.
What is: The Pullman Strike
This 1914 act strengthened antitrust laws and protected labor unions.
What is: The Clayton Antitrust Act
The belief that the government should not interfere in the economy.
What is: Laissez-faire
This term describes powerful 19th-century industrialists accused of exploiting workers.
What are: "robber barons"
This event involved a violent clash between steelworkers and Pinkerton guards in 1892.
What is: The Homestead Strike
This act created a commission to investigate unfair business practices.
The idea that competition leads to the survival of the fittest in society and buisness.
What is: Social Darwinism