ESL US History 2013-14
Terms in this set (26)
transition from an agricultural society to one based on industry
a process developed in the 1850s that led to faster, cheaper steel production
railroad connecting the west and east coasts of the United States; completed in 1869
business owned by many investors or shareholders who buy shares of stock and risk only the amount of their investment
total control of an industry by one person or one company
"supercorporation"; large corporation made up of many companies that join together to control an industry
shares or stocks
the part of a company that a person buys
Captains of Industry
the name given to industrialists, such as Andrew Carnegie and John D. Rockefeller, by people who admired them
the name given to industrialists, such as Andrew Carnegie and John D. Rockefeller, by people who criticized their ruthless business practices
Sherman Anti-Trust Act
1890; the first law that made it illegal to create monopolies or trust that restrained free trade
Clayton Anti-Trust Act
1914 law that made monopolies illegal and proctected rights of labor unions and farmer organizations
policy allowing business to operate with little or no government interference
movement of people from rural areas to cities
In a factory, a product is moved from worker to worker, with each person performing a single task in the making of the product; created by Henry Ford
workers stop working; managers try to break the strike by hiring strikebreakers
1894 railway workers strike for higher wages against the Pullman Company, in which President Grover Cleveland issued an injunction (a court order to stop something) to prevent the strike.
the belief that only the fittest and strongest survive in politics and business
type of monopoly where a company buys all of the steps of the production of an item so that it has power over the cost and quality
type of monopoly where a company buys out all of its competition. Ex. J. D. Rockefeller
American inventor best known for inventing the electric light bulb
man who invented the assembly line process for making cars; his Model T was cheaper, so many Americans could afford to buy a car
An organization of farmers who tried to get the government to regulate the railroads and pass other farm friendly policies.
created the Carnegie Steel Company; used vertical integration to buy all of the steps needed to produce and transport steel; one of the "Robber Barons" and a philanthropist
created the Standard Oil Company; used vertical and horizontal integration to create one of the largest monopolies in oil production
banker who buys out Carnegie Steel and renames it U.S. Steel; one of the "Robber Barons"
Alexander Graham Bell
American who invented the telephone
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