History Gilded Age Flashcards
In America, many people made names for themselves by inventions and helping the US prosper.
When did commercial farming and national markets form to create manufactured goods?
In 1920
What remarkable technology spread with economic growth?
The Atlantic cable in 1855 made it possible to send electronic telegraph messages between US and Europe.
Great Depression started in what years?
The world economy suffered prolonged downturns in 1870s and 1890. Indeed before the 1930s, the years from 1873 to 1897 were known as the Great Depression.
What did businesses establish?
Trusts or legal devices whereby the affairs of several rival companies were managed by a single director.
What did Andrew Carnegie do?
He set out a steel company that incorporated vertical integration.
What is “The miner’s freedom”?
A workers economic independence now rested as on technical skill rather than ownership of one’s on shop and tools as in earlier times.
What happened to the richest 1 percent?
Americans received the same total income as the bottom half of the population and owned more property than the remaining 99%
