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Skaggs Ch. 14-15

Terms in this set (77)

Gross National Product
the total value of goods and services produced by a country during a year
timezone
a geographical region within which the same standard of time is used
economics of scale
factors that cause a producer's average cost per unit to fall as output rises
pool
An agreement to divide the business in a given area and share the profits.
Monopoly
A market in which there are many buyers but only one seller.
Deflation
A situation in which prices are declining
Lockout
a company tool to fight union demands by refusing to allow employees to enter its facilities to work
closed shop
A company with a labor agreement under which union membership can be a condition of employment.
Thomas Edison
American inventor best known for inventing the electric light bulb, acoustic recording on wax cylinders, and motion pictures.
Stockholders
owners of a corporation
Blacklist
A list of people or products viewed with suspicion or disapproval.
Laissez-faire
Idea that government should play as small a role as possible in economic affairs.
land grant
a grant of land by the federal government, especially for roads, railroads, or agricultural colleges
fixed costs
Costs that do not vary with the quantity of output produced
Vertical Integration
Practice where a single entity controls the entire process of a product, from the raw materials to distribution
trust
a combination of firms or corporations formed by a legal agreement, especially to reduce competition
trade union
organization of workers with the same trade or skill
Marxism
A branch of socialism that emphasizes exploitation and class struggle and includes both communism and other approaches.
Edwin Drake
American pioneer in oil industry; became first to drill for petroleum
Leland Stanford
American financier of the Central Pacific Railroad (built 1863-1869) and founder of Stanford University (1885).
stock
A share of ownership in a corporation.
Samuel Gompers
He was the creator of the American Federation of Labor. He provided a stable and unified union for skilled workers.
Entrepreneur
A person who organizes, manages, and takes on the risks of a business.
Corporation
A business owned by stockholders who share in its profits but are not personally responsible for its debts
operating cost
the cost of operating a facility, such as a store or factory
Horizontal Integration
system of consolidating many firms in the same business
holding company
a company whose primary business is owning a controlling share of stock in other companies
industrial union
an organization of common laborers and craft workers in a particular industry
Arbitration
settling a dispute by agreeing to accept the decision of an impartial outsider
Alexander Graham Bell
Invented the telephone
Cornelious Vanderbilt
famous railroad consolidator that merged the large New York railroad systems
Andrew Carnegie
A Scottish-born American industrialist and philanthropist who founded the Carnegie Steel Company in 1892. By 1901, his company dominated the American steel industry.
Steerage
A large open area beneath a ship's deck, often used to house traveling immigrants
Angel Island
The immigration station on the west coast where Asian immigrants, mostly Chinese gained admission to the U.S. at San Francisco Bay.
Chinese Exlusion Act
Law passed in 1882 that prohibited Chinese laborers from entering the country, but did not prevent entry of those who had previously established U.S. residence
Louis Sullivan
A leading architect of skyscrapers in the late nineteenth century, stressed the need for building designs that followed function. His works combined beauty, modest cost, and efficient use of space.
political machine
a party organization that recruits members by dispensing patronage
graft
Illegal use of political influence for personal gain
Individualism
giving priority to one's own goals over group goals and defining one's identity in terms of personal attributes rather than group identifications
Social Darwinism
The belief that only the fittest survive in human political and economic struggle.
Realism
A 19th century artistic movement in which writers and painters sought to show life as it is rather than life as it should be
Coney Island
Created as a way for working-class people to temporarily escape the hardships of the working, became an amusement park with rides and attractions that contrasted the grim realities many were living.
Scott Joplin
United States composer who was the first creator of ragtime to write down his compositions
Edward Bellamy
Wrote Looking Backward; said that captialism supported the few and exploited the many.
Washington Gladden
Congregationalist minister who followed the social gospel and supported social reform. A prolific writer whose newspaper columns and many books made him a national leader of the Social gospel movement.
YMCA
Young Men's Christian Association
Settlement Houses
institutions that provided educational and social services to poor people
Ellis Island
Immigration processing center that open in New York Harbor in 1892
Nativism
A policy of favoring native-born individuals over foreign-born ones
Workingman's Party of California
worked to stop Chinese immigration
Frank J. Sprague
developed the electric trolley car
party boss
the person in control of a political machine
William M. Tweed
a disgraced American politician who was convicted for stealing millions of dollars from New York City taxpayers through political corruption and died in jail. He was head of Tammany Hall, the Democratic Party political machine that played a major role in the politics of 19th century New York.
Horatio Alger
Popular novelist during the Industrial Revolution who wrote "rags to riches" books praising the values of hard work
Gospel of Wealth
This was a book written by Carnegie that described the responsibility of the rich to be philanthropists. This softened the harshness of Social Darwinism as well as promoted the idea of philanthropy.
Thomas Eakins
Specialized in painting the everyday lifes of working-class men and women and used the new technology of serial-actions photographs to study human anatomy and paint it more realistically.
Vaudeville
A type of inexpensive variety show that first appeared in the 1870s, often consisting of comic sketches, song-and-dance routines, and magic acts
Henry George
He wrote Progress and Poverty in 1879, which made him famous as an opponent of the evils of modern capitalism.
Naturalism
A nineteenth-century literary movement that was an extension of realism and that claimed to portray life exactly as it was.
Walter Rauschenbusch
New York clergyman who preached the social gospel, worked to alleviate poverty, and worked to make peace between employers and labor unions.
Dwight Moody
He founded Moody Bible Institute, in 1889. It helped generations of urban evangelists to adapt traditional Christianity to city life.
Americanization
process of acquiring or causing a person to acquire American traits and characteristics
Jacob Riis
A Danish immigrant, he became a reporter who pointed out the terrible conditions of the tenement houses of the big cities where immigrants lived during the late 1800s. He wrote How The Other Half Lives in 1890.
American Protective Association
An organization created by nativists in 1887 that campaigned for laws to restrict immigration
skyscraper
a very tall building with many stories
Tenements
Poorly built, overcrowded housing where many immigrants lived
George Plunkitt
A corrupt politician who was a leader of the corrupt political machine in New York City called Tammany Hall. He defended "honest graft."
Gilded Age
1870s - 1890s; time period looked good on the outside, despite the corrupt politics & growing gap between the rich & poor
Herbert Spencer
English philosopher and sociologist who applied the theory of natural selection to human societies (1820-1903)
philanthropy
charity; a desire or effort to promote goodness
Mark Twain
The writer and humorist best known for his novels about Tom Sawyer and Huckleberry Finn; used "realistic fiction".
Ragtime
A type of music featuring melodies with shifting accents over a steady, marching-band beat; originated among black musicians in the south and midwest in the 1880s
Lester Frank Ward
Sociologist who attacked social Darwinism in his book, Dynamic Sociology.
Social Gospel
A movement in the late 1800s / early 1900s which emphasized charity and social responsibility as a means of salvation.
Salvation Army
This welfare organization came to the US from England in 1880 and sought to provide food, shelter, and employment to the urban poor while preaching temperance and morality.
Jane Addams
1860-1935. Founder of Settlement House Movement. First American Woman to earn Nobel Peace Prize in 1931 as president of Women's International League for Peace and Freedom.
Morrill Land Grant
gave federal land to the states to help finance agricultural colleges
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