Chapter 14-15 Industrialization & Urbanization

45 terms by Tuxthepenguin

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Review of Chapters 14,15

Gross National Product

total value of all goods and services produced in a nation

laissez-faire

policy based on the idea that government should play as a role

entrepreneur

someone who organizes a business venture and assumes the risk for it

horizontal integration

Type of monopoly where a company buys out all of its competition. Ex. Rockefeller

vertical integration

process in which a company buys out its suppliers

monopoly

exclusive control or possession of something

Alexander Graham Bell

United States inventor (born in Scotland) of the telephone (1847-1922)

deflation

a contraction of economic activity resulting in a decline of prices

Thomas Edison

Inventor of lightbulb, phonograph and numerous other innovations

Cornelius Vanderbilt

United States financier who accumulated great wealth from railroad and shipping businesses (1794-1877)

Economies of Scale

factors that cause a producer's average cost per unit to fall as output rises

Pullman Strike

Chicago railroad strike that paralyzed railway traffic nationwide

urbanization

the social process whereby cities grow and societies become more urban

Andrew Carnegie

United States industrialist and philanthropist who endowed education and public libraries and research trusts (1835-1919)

trust fund

SPECIAL ACCOUNT THAT PROVIDES MONEY FOR SPECIFIC TYPES OF EXPENDITURES, SUCH AS SOCIAL SECURITY

new inventions

vacuum, refrigerator, home washer/dryer all improved life

labor unions

an organization formed by workers to strive for better wages and working conditions

corporation

an organization that is authorized by law to carry on an activity but treated as though it were a single person

holding company

a company with controlling shares in other companies

industrialization

the development of industries for the machine production of goods

lockout

an attempt by management to put pressure on unions by temporarily closing the business

old immigration

Immigrants from Northwest Europe arriving in the EARLY 1800s

push and pull factors

reasons why people left their homes and reasons why people came to the West.

Ellis Island

Immigration processing center that open in New York Harbor in 1892

skyscrapers

very tall buildings

political machine

an organization linked to a political party that often controlled local government

party bosses

party leaders, usually in an urban district, who exercised tight control over electioneering and patronage

tenement

poorly built, overcrowded housing where many immigrants lived

ragtime

type of music that blended African-American songs and European musical forms

Tammany Hall

most notorious political machine; NY city; Marcy Tweed also know as Boss Tweed became head in 1863

steerage

A large open area beneath a ship's deck, often used to house traveling immigrants

Angel Island

Inspection station for immigrants arriving on the West Coast

Boss Tweed

Leader of the Democratic Tammany Hall, New York political machine

Industrialization

the development of industries for the machine production of goods

assimilation

the process of assimilating new ideas into an existing cognitive structure

Chinese Exclusion Act

It closed the door on Chinese Immigration in 1882

Gilded Age

1870s - 1890s; time period looked good on the outside, despite the corrupt politics & growing gap between the rich & poor

nativism

the policy of perpetuating native cultures (in opposition to acculturation)

Social Darwinism

The belief that only the fittest survive in human political and economic struggle.

graft

the practice of offering something (usually money) in order to gain an illicit advantage

Rockefeller

United States industrialist who made a fortune in the oil business and gave half of it away (1839-1937)

motion picture

The first truly universal mass-entertainment medium, which reached all areas of the country and all levels of the population, was the...

Dwight Moody

Made the Moody Bible Institute. Helped generations of urban evangelists to adapt traditional Christianity into city life.

robber barons

People who'd built fortunes by swindling investors and taxpayers, and bribing officials

new immigration

Immigrants from Southern and Eastern European countries and Asia arriving in the LATE 1800s

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