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Chapter 25: Industry Comes of Age, 1865-1900
Terms in this set (15)
- In business, an agreement to divide a given market in order to avoid competition. "The earliest form of combination was the 'pool.'..."
- A return of a portion of the amount paid for goods or services. "Other rail barons granted secret rebates...."
- An economic system that permits unrestricted entrepreneurial business activity; capitalism. "Dedicated to free enterprise..., they cherished a traditionally keen pride in progress."
- In American government, any of the agencies established to control a special sphere of business or other activity; members are usually appointed by the president and confirmed by Congress." "It heralded the arrival of a series of independent regulatory commissions in the next century...."
- A combination of corporations, usually in the same industry, in which stockholders trade their stock to a central board in exchange for trust certificates. "He perfected a device for controlling bothersome rivals-the 'trust.'"
- An association of financiers organized to carry out projects requiring very large amounts of capital. "His prescribed remedy was to... ensure future harmony by placing officers of his own banking syndicate on their various boards of directors."
- Characterized by noble or highs social standing. "An arrogant class of 'new rich' was now elbowing aside the patrician families..."
- Government by the wealthy. "Plutocracy... took its stand firmly on the Con-stitution."
- The noncommunist and non-Western nations of the world, most of them formerly under colonial rule and still economically poor and dependent. "The net effect was to keep the South in a kind of 'third world' servitude to the Northeast..."
- One who believes in the ownership and control of the major means of production by the whole community rather than by individuals or corporations. "...much of [this criticism] rose from the small and increasingly vocal group of Socialists...."
- One who believes in fundamental change in the political, economic, or social system. "....much of [this criticism] rose from...socialists and other radicals, many of whom were recent European immigrants."
- The refusal by an employer to allow employees to work unless they agree to his or her terms. "Employers could lock their doors against rebellious workers- a process called the 'lockout.'..."
yellow dog contract
- A labor contract in which an employee must agree not to join a union as a condition of holding the job. "[Employers] could compel them to sign 'ironclad oaths' or 'yellow dog contracts.'..."
- An organization for producing, marketing, or consuming goods in which the members share the benefits. "...they campaigned for...producers' cooperatives..."
- One who believes that formal, coercive government is wrong in principle. "Eight anarchists were rounded up...."
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