Industrial Revolution / Gilded Age

People

100

Andrew Carnegie

Considered one of the "Titans of Industry" during the the industrial and gilded ages. He is considered a philanthropic individual, but such charity also came at the cost of his workers. He is well known for his work within the steel industry and for writing a book entitled the "Gospel of Wealth". 

200

John D. Rockefeller 

A titan of Industry. He is the most notable owner of a monopoly during these eras. The Standard Oil Company and Trust was dissolved in 1911 after a court case deemed his monopoly illegal. 

300

Upton Sinclair

Was the author of the acclaimed book "The Jungle".  he was a notable Muckraker of his era and incited much change in regards to the food and meat industry along with giving fair workers rights.  

400

Karl Marx

well known for the creation of Marxism / Communism. He is of note during this time era for a unique view of economics and how they are impacted by capitalism. He believed that Capitalism drives the means of production and influences the working class to be subservient to that system. 

500

James Watt

created the steam engine

Terms

100

Monopoly 

A individual or corporation that controls the main means of production and have no competition. 

200

Laissez-Faire

This is the principle that business should have little to no government regulation / intervention. 

300

Imperialism

Often refers to the empirical expansion of both America and corporations to increase their GDP and means of production. This type of policy extended one country's rule over many other lands. 

400

Entrepreneur

a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.

500

Bourgeoisie

The middle class AKA (Employers) who controlled the means of production. 

Inventions

100

Name One Important innovation from the era. 

Plausible Answer: 

The Steam Engine

200

Created by Thomas Edison

The Light bulb or the Phonograph. 

300

Alexander Gram Bell created this

The Telephone 

400

The Transcontinental Railroad

a interconnected system of railroad tracks that influenced trade routes and communication during the two eras. It was valued to carry 50 million in freight annually. 

500

Name 5 important innovations. 

Plausible Answers: 

Telegraph

Railroad

Creation of the Camera

The Lightbulb

Telephone

Laws

100

Factory Act (1829) 

limited the working ages of employees and placed restrictions. However it wasn't majorly enforced and more considered a stepping stone act rather than one that made meaningful change. 

200

Sherman Anti-Trust Act (1890) 

was the act that made the formation of monopolies illegal and their continued operations subject to scrutiny at anytime by the federal government to determine how far reaching and influential their company has become. 

300

Interstate Commerce Act

Regulated railroad rates

400

Was influenced by Upton Sinclair's "The Jungle" 

The Pure Food and Drug Act (1906) and the Meat Inspection Act (1906) WHY WERE THEY CREATED?

500

Fair Labor Standards Act (1938) 

Couldn't jeopardize the health, well-being or education opportunities of young people. 

???

100

JP Morgan

A renoun venture capitalist that got his start within the banking sector. 

200

Inventor or the Sleep Car

George Pullman

300

Urbanization

Urbanization is characterized by the growth of cities. Industrialization ushered in a shift from farming to agribusiness. People began moving into urban centers as mechanization and production increased. Urbanization continues as areas go through cycles of economic and social reform.https://www.investopedia.com/ask/answers/041515/how-does-industrialization-lead-urbanization.asp#:~:text=Urbanization%20is%20characterized%20by%20the,of%20economic%20and%20social%20reform. 

400

Who invented the Electric Chair? 

Thomas Edison (Can anyone explain why?) 

500

Name the caticlismic event that we discussed in class. (Hint: The event occured in Pennsylvania) 

The Johnstown Dam which killed over 2,000 people.