Unit 1 Topic 2 Flashcards
(45 cards)
0
Q
Research and development
A
- companies; to research ways of improving product
- universities; to learn and research ways to make better machines
1
Q
What ways did industrial technology grow?
A
- Iron to steel; steel is stronger and lasts
- usage of oil; to lubricate machines
- electricity; Thomas Edison’s invention from 1876 allowed businesses to stay powered
2
Q
Railroad expansion
A
- Railroad growth from 1860-1880
- easier access to markets
- development and industrial growth
3
Q
Laissez-Faire
A
- French meaning leave it alone/hands off
- gov can’t make rules or regulations that businesses have to follow
- Because of this businesses can grow
4
Q
Protective tariffs
A
- Tax on imported goods
- encourages people to buy American goods
- protective because it protects American goods
6
Q
Previous way of doing business
A
Used to be owned by single family
7
Q
Corporations
A
Multiple people own
8
Q
Consolidating
A
To come together
9
Q
Consolidating corporate America
A
- horizontal integration
- vertical integration
- allowed businesses to cut cost
10
Q
Horizontal integration
A
Bringing together businesses that do same thing as their business and make them into a corporation
11
Q
Vertical integration
A
To take under one company all the steeps necessary for the business
12
Q
Types of big business
A
Monopoles, trust, cartels
13
Q
Monopolies
A
One corporation owns a big part of industry
14
Q
Trusts
A
Trusting someone with decision making
15
Q
Cartel
A
Business stays independently owned but all similar business must agree to set sales at one price
16
Q
J. Piermont Morgan
A
Banker
Owned most powerful bank during gilded age
Able to be a trusty
Used finance to get many companies to trust him
17
Q
Captains of industry
A
- cornelious Vanderbilt
- Andrew Carnegie
- John D. Rockefeller
18
Q
Cornelius Vanderbilt
A
- railroad industry
- used to work at steamship and ferry business
- sold ships and used money to buy NY railroads
- expanded business by horizontal integration
19
Q
Andrew Carnegie
A
- delt with steel
- used to work at a railroad business
- made a new steel technology so it was faster, stronger, and cheaper
- drove out of business all other steel companies
- horizontally and vertically integrated
- first to show how powerful a business can become with vertical and horizontal integration
- got a trusty
20
Q
John D. Rockefeller
A
- standard oil
- got trusty
- bought oil refinery plants
- horizontal and vertical expansion
- said he’d ship oil through one companies railroad if they jacked up the price for other oil companies
21
Q
Social Darwinism
A
- came up with the idea of captain of the fitise
- idea was if strong business survive, you survive. If not it sucks
- a self made man
22
Q
Horatio Alger
A
A self made man
Wrote novels about self made men
23
Q
Robber barons
A
- someone who obtained wealth with corruption
- not a self made man because he used questionable tactics
24
Q
Union
A
A group of workers who come together to demand better conditions
25
Strike
Workers who stop working to get what they want
26
Urbanization
Movement of people to cities
27
Assimilate
Join into a new culture
28
Captains of industry
- lowered prices for consumers
- increased industrial production
- provided jobs and improved life
- donated money to charity
30
Wages and conditions
- low wages and many hours; unskilled labor;400-500 a year needed at least 600 to get by; 12-14 hrs a day
- job (in)security; easily fired;two major economic depression
- health and safety; unsafe unsanitary; injuries and major sickness; packed closely together
- no control for workers
- woman workers; 70%; mostly textile jobs; $300 a year; lowered mans salary
- child labored; 2 million worked
- there were laws but they were worked around
31
Struggle to unionize
- up against big businesses
- publics opinion(mostly against workers)
- blacklisted workers
32
Blacklisted workers
Workers who tried to start unions were fired and placed on the list and woulsnt get hired in other businesses
33
The great railroad strike (1877)
- RR company cut wages
- rapidly spreading strike
- violence by strikers
- government intervention to stop strike
- inspired workers to work/protest in a union
34
Knights of labor (1869)
- membership open to all workers
- loosely organized; composed of many smaller unions; let each labor do its own thing
- demands; tried getting workers to join Union; held parades; to reform economic system
38
Post civil war immigration
- don't speak English
- no skills; no education
- workers who accept low pay; providing industrial growth
39
Robber barons
- business growth happened by dishonesty
- small businesses were put out of business
- increased gap between rich and poor
- power to raise prices when they want
- political corruption; paying off congress to they'd keep their hands off
40
Blacklisted workers
Workers who tried to start unions were fired and placed on the list and wouldn't get hired in other businesses
41
The great railroad strike (1877)
- RR company cut wages
- Rapidly spreading strike
- Violence by strikers
- government intervention
- inspired workers to work/protest in a union
42
Knights of labor (1869)
- membership open to all workers
| - loosely organized(composed of many smaller unions;let each labor do its own thing)
43
Demands for knights of labor
- actively tried to get workers to join their union
- held parades to persuade to join
- to reform economic system
- "workers are Slave to their wage"
- wanted a worker to be part owner of the company which means more pride more say more money, men and woman to get paid the same
44
Radical tendencies at the local level
- more fiercmess in the local compared to the knifes of labor
- problem is they hired too many workers because each ethnicity had different demands
45
American Federation of Labor(1881)
- Samuel Gompers
- skilled Laborers
- collective bargaining
- willing to strike
46
Demands for American Federal of Labor
- safe conditions
- higher wages
- limit conditions
- few women in work places as possible
- government limits
- 8 hour work day
47
Haymaker square riot(1886)
- striking workers rioted in Chicago
- violence at haymarket square (workers vs. Government)
- impact on Knights of labor and labor movement
48
Homestead strike(1892)
- strike of steel factory workers(steel becoming not skilled job)
- wage cuts in steel industry
- violent strike(fired them because of it and got new workers; prevented new workers to start new jobs; lasted long time after 4 months gov sent 8thousand people to break up strike)
- government intervention(sided with businesses)
49
Pullman strike(1894)
- strike that worked at train cars
- cut wages of workers so workers went on strike
- American railway Union strike(started a sympathy strike to support their workers)
- transportation in the US stopped
- federal government intervention(workers said they won't stop; arrested leaders; pointed guys at workers; federal injunction and court order; court order that workers must return)
