18-2 Review Flashcards
monopoly
Company that controls all or nearly all businesses in a particular industry
entrepreneur
Someone who sets up a new business to make a profit
Andrew Carnegie
Industrialist who formed the Carnegie Steel Company
John D. Rockefeller
Industrialist who formed the Standard Oil Trust
Samuel Gompers
Formed and led the American Federation of Labor
collective bargaining
Negotiation between company management and the union representing a group of workers about wages, benefits and working conditions
“Robber Barons”
Businessmen who setup monopolies, eliminated competition and took advantage of workers for profit
“Captains of Industry”
Businessmen who took risks to help the U.S. modernize, created new industries and job
Working conditions
-Wages- Low wages, no minimum wage, and children, women and immigrants were paid less than men
-Working hours- Long(12 hrs. or more) and often six days a week
-Conditions in the factories- Sweatshops, hot, dusty, no safety devices and poor ventilation
Triangle Shirtwaist Fire of 1911- New York City
-Ladders and hoses could not reach the floor where the fire was, only one of four elevators worked and that one broke during the fire, fire hose was broken, fire escape was not strong enough to support workers fleeing, and no fire sprinklers.
-146 workers died and many of those jumped to escape the fire
-New regulations were created after this event
Knights of Labor
Labor unions that accepted women, African Americans, immigrants and unskilled laborers to improve working conditions. After the Haymarket Strike in Chicago, membership collapsed as the public blamed the union for the violence and deaths that occurred.
American Federation of Labor(AFL)
Setup by Samuel Gompers to included skilled labors. Women, immigrants and African Americans were not allowed in the union at first. This union used collective bargaining and strikes to improve pay, get shorter working hours and conditions.
