43 terms

Gilded Age Study guide

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Manufacturer
a business that makes finished products out of processed goods
Consumer
Buyer of goods
Supply & Demand
Manufactures supply what consumers demand: Leads to a lot of choices for consumers
Profit
Money leftover after bills have been paid: profit can be used in any way
Laissez-Faire Capitalism
• government should stay out of economics
Monopoly
Domination of an industry by a single company that fixes prices and discourages competition; also, the company that dominates the industry by these means.
Trust
a group of corporations that unite in order to reduce competition and control prices in a business or an industry
Patent
(n.) exclusive rights over an invention; copyright;
Assembly Line
In a factory, an arrangement where a product is moved from worker to worker, with each person performing a single task in the making of the product.
Corporation
A business owned by stockholders who share in its profits but are not personally responsible for its debts
Robber Baron
A wealthy person who tries to get land, businesses, or more money in a way that is dishonest or wrong. They don't care about their employees they just want money $$$$
Philanthropy
charity; a desire or effort to promote goodness
Gilded Age
1870s - 1920s; time period looked good on the outside, despite the corrupt politics & growing gap between the rich & poor
Thomas Edison
American inventor best known for inventing the electric light bulb, acoustic recording on wax cylinders, and motion pictures.
George Washington Carver
African American farmer and food scientist. His research improved farming in the South by developing new products using peanuts.
Henry Ford
Inventor of Model T automobile and mass production/assembly line
Alexander Graham Bell
Invented the telephone
Andrew Carnegie
Owner of US steel. Became the richest man in the world. Duty of the rich to become philanthropists. Donated libraries to hundreds of towns and cities.
Rockefeller
Owner of Standard Oil, who became extremely wealthy and powerful
J.P.Morgan
Banker who took over US steel, and bailed out the US government when it was in danger of bankruptcy.
Immigrant
a person who comes to a country where they were not born in order to settle there
Emigrant
A person who leaves a country or region to live elsewhere.
Assimilation
(Melting Pot)
Adopting the traits of another culture. Often happens over time when one immigrates into a new country.
Pluralism
(Salad Bowl) Maintaining your own cultural traditions and customs, even if you move to a new country
Push Factors
Reasons a person wants to leave their country of origin. Economic/Social/Political/Environmental
Pull Factors
Reasons a person selects a new country to live in. Economic/Social/Political/Environmental
Ellis Island
An immigrant receiving station that opened in 1892, where immigrants were given a medical examination and only allowed in if they were healthy
Quota System
An arrangement placing a limit on the number of immigrants from each country
Chinese Exclusion Act
(1882) Denied any additional Chinese laborers to enter the country while allowing students and merchants to immigrate. Stemmed from fear of Americans that their jobs would be taken.
Tenement
A building in which several families rent rooms or apartments, often with little sanitation or safety
Slum
a heavily populated urban area characterized by substandard housing and squalor
Jacob Riis
He described the awful living conditions of poor people in the tenements of New York City in "How the other half lives"; led to many social reforms.
Sweatshop
A shop or factory where workers work long hours at low wages under unhealthy conditions
Triangle Shirtwaist Factory Fire
March 1911 fire in New York factory that trapped young women workers inside locked exit doors; nearly 50 ended up jumping to their death; while 100 died inside the factory; led to the establishment of many factory reforms, including increasing safety precautions for workers
Union
A group of people who do the same job
Strike
To refuse to work in order to force an employer to meet certain demands
Muckraker
Journalists who attempted to find corruption or wrongdoing in industries and expose it to the public
Progressive
Some one who solves the problems uncovered by the muckrakers
Jane Addams
Tried to solve (Poverty, Homelessness, Lack of education, Assimilation) Settlement house (hull House)
Colonel George Waring
Tried to solve Slums (creation of the white ducks, city sewer system)
Theodore Roosevelt
Abuse of Robber Barons (Square Deal, Sherman Anti-Trust Act, Food & Drug Act, Conservation)
William Taft
Poor working conditions and abuses of Robber Barons (Clayton Anti-Trust Act, Minimum Wage laws
Woodrow Wilson
Alcohol Abuse, lack of voting rights, child labor( 18th, 19th amendment, child labor act

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