Vocab
long-term economic decline, business failures, and unemployment
Depression
what is the term when a person buys out rival companies to dominate the industry
Monopoly
This is when private individuals own businesses and can compete for and keep profits
Capitalism
Who invented the telegraph, revolutionizing long-distance communication in the 1800s?
Samuel Morse
Andrew Carnegie increased profits in the steel industry by using vertical integration, which meant he??
controlled raw materials, factories, and transportation
The rapid growth of factories, mass production, and mechanized labor in the late 1800s is best described as
Industrialization
Which businessman built his fortune in shipping and railroads and made his most significant charitable contribution to Central University in Nashville?
Cornelius Vanderbilt
this term is when a company controls production and prices by combining companies and setting a price
trust
Which inventor created a system for producing and distributing electrical power, helping to electrify American cities?
Alexander Graham Bell
The importance of petroleum during the Gilded Age is best shown by its use as
fuel for lighting, heating, and transportation
People who donate to the poor are known as?
Philianthropists
Which labor activist led child workers on a march to President Theodore Roosevelt’s home in 1903 to protest child labor?
This person owned United States Steel after purchasing Carnegie Steel Company in 1901, creating one of the first billion-dollar corporations?
JP Morgan
Which individual proposed dividing the world into 24 time zones in 1869?
C.F. Dowd
Some workers during the Gilded Age became socialists because they believed
the government should regulate or own major industries
These people used unethical practices to gain wealth and power
Robber Barons
Which labor leader helped lead the Colored National Labor Union?
Isaac Meyers
Which industrialist became a major philanthropist by founding over 3,000 libraries and donating millions to education?
Andrew Carnegie
Who discovered how to distill kerosene from coal and founded the Kerosene Gaslight Company in 1850?
Abraham Pineo Gesner
Why did Labor unions such as the Knights of Labor and the AFL formed during the Gilded Age?
improve wages, hours, and working conditions
Which term was used by business owners to fight back against workers and labor unions?
Blacklists
Who founded the American Railway Union and later helped form the Socialist Party in 1901?
Eugene V. Debs
Which businessman’s Standard Oil Company controlled about 90% of America’s oil refining by 1879?
John D. Rockefeller
Who invented the bessemer steel process?
Sir Henry Bessemer
Which labor leader, a Jewish immigrant, helped establish the American Federation of Labor (AFL)?
Samuel Gompers