48 terms

Chapter 17

1850s-1890s
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American Industrialists
Henry Ford - automobiles
Cornelius Vanderbilt, James J. Hill, Collis P. Huntington - railroads
Andrew Carnegie - steel
J. Pierpont Morgan - investment banking
Gustavus Swift - meatpacking
Isaac Singer - sewing machines
John D. Rockefeller - oil
Bessemer Process
process that turned iron into steel (lighter metal) and was used to build bridges, battleships, railroads, & roads
George Bissell
discovered that refined petroleum could be used as lubricants for factories
Light Bulb
the invention of the light bulb allowed factories to work all night long
The Assembly Line
created by Ford in 1913 and improved the efficiency of production
Wright Brothers
invented an airplane in 1903 but it was not a commercial proposition until the 1920s
Firms
supported research labs in the early 20th century (i.e. General Electric, Bell Telephone, DuPont, Eastman Kodak)
Railroads
served as the pioneers of big businesses and helped to merge businesses, undercut competition, and control costs of goods...
Chicago
became the railway hub of the central United States
"Scientific Management"
system based on the principles of Frederick Winslow Taylor introduced by corporations in order to increase production and lower labor costs; a consequence of consolidation
"Taylorism"
a system that aimed to subdivide tasks in order to speed up manufacturing and increase production
Vertical Integration
occurs when a company controls both production & distribution of its product (i.e. Andrew Carnegie used this to gain control over US steel industry)
Horizontal Integration
occurs when one company gains control over other companies with the same product (i.e. John D. Rockefeller used this to expand in the oil industry)
United States Steel Corporation
formed when Andrew Carnegie sold his company to a group headed by J.P. Morgan in 1901
Monopoly
the exclusive possession or control of the supply or trade in a commodity or service
Pools
informal agreements among companies to stabilize rates and divide markets (not very successful)
Trust
an organization in which shareholders in individual corporations would exchange their shares for shares of a trust; trustees were able to exercise considerable control over an industry and distribute the profits to the trust's shareholders
Herbert Spencer
his theory of Social Darwinism provided justification that the fittest survived and that great fortunes were a result of natural rules
Social Darwinism
belief that the fittest survive in both nature and society; used by wealthy business and industrial leaders to justify their success; believed industrial and urban problems were a part of natural evolutionary processes that humans could not control
William Graham Sumner
supported Spencer's ideology by theorizing that individuals have the absolute freedom to compete, and either succeed or fail
Gospel of Wealth (1889)
belief that the rich have a duty to serve society (promoted by Andrew Carnegie)
Horatio Alger Jr.
his stories provided concrete examples of the ideal, self-made man; his rags to riches novels chronicled the rise from poor boy to riches
Socialist Labor Party
led by Daniel De Leon and attracted a modest following of intellectuals and an offshoot became the American Socialist Party in 1901
Henry George
published Progress and Poverty in 1879, which questioned the dilemma of the American economic system; proposed a single tax on land to destroy monopoly and redistribute wealth
World's Columbian Exposition (1893)
showcased American's industrial development
Social Gospel
reform movement based on the belief that Christians have the responsibility to confront social problems; led by Christian ministers
Adam Smith
believed that no person does charity out of the goodness of his heart but rather to make money; argued that monopolies were bad and supported free trade
Edward Bellamy
Wrote Looking Backward: 2000 to 1887 as a utopian reaction to the disillusionment with problems created by the growth of industrialization
Rural workers
left the farm and migrated to cities when immigrants came to America from Europe, Asia, Mexico, and Canada, allowing the workforce to expand dramatically
The Labor Contract Law
allowed businesses to pay in advance for the passage of workers
Child-Labor Laws
...
Unions
groups of workers who collectively bargain and use strikes to make changes
The National Labor Union (1866)
first attempt at a craft union; it was reform-oriented and disintegrated after the Panic of 1873
The Knights of Labor (1869)
idealists who believed that they could eliminate conflict between labor and management; wanted to create a cooperative society where labors (not capitalists) owned the industries in which they worked; supported an 8 hour day and equal pay for men and women
Molly Miguires
a radical and violent group in which mine owners used terror tactics to turn public opinion against the union
Terrence V. Powderly
leader of the Knights of Labor union during the 1870s and increased its membership
American Federation of Labor
alliance of skilled workers in craft unions that aimed to get higher wages, shorter hours, and better working conditions; promoted the skilled while male laborer and supported strikes; did not allow women to join and saw them as competitors to male labor
Samuel Gompers
leader of the American Federation of Labor
Industrial Workers of the World
union led by "mother" Jones, Elizabeth Flynn, and Big Bill Haywood that aimed to unite all laborers excluded from craft unions and create one
The Great Railroad Strike (1877)
started by the announcement of a 10 % wage cut, strikers stopped rail service, destroyed equipment, and rioted in several cities; this strike illustrated the wide spread nature of labor issues, resentment of labor toward employers, and the weakness of the labor movement
The Hay Market Riot (1886)
the American Federation of Labor called a general strike on May 1, 1886 if a national 8 hour day was not achieved; the result was a protest in Chicago's Hay Market Square; a bomb was thrown killing seven people and police opened fire killing another four
Anarchism
became the new threat to social order and private property after the Hay Market Strike - alluded to already declining Knights of Labor and provided an obstacle towards the acceptance of labor unions in America
The Homestead Strike (1892)
well-known strike during the labor movement that occurred when Andrew Carnegie cut wages; Carnegie's chief aide Henry Clay Frick locked out the workers and hired Pinkerton Agents to protect strikebreakers Frick planned on hiring; it resulted in the Pennsylvania governor sending in troops to crush the strike
The Pullman Strike (1894)
the best known strike during the labor movement; started when the Pullman Palace Car company (George Pullman) cut wages 25% but refused to lower rents in the company housing; the workers went on strike and were supported by the American Railway Union headed by Eugene V. Debs; this strike halted a large portion of American railroad commerce
Sherman Antitrust Act (1890)
declared monopolies illegal and was used against the union & striking workers
Women's Trade Union League (1903)
women's attempt to form a labor union, but was unsuccessful
Henry Clews
opposed unionizing/the union movement; believed American working conditions were better than European ones & claimed that New Immigrants could have replaced angry workers
Nativists
opposed the New Immigrants & previously opposed Irish/German Cathloic immigrants
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