Ch 19 Flashcards
Bessemer process
a process developed in the 1850s that led to faster, cheaper steel production
Second Industrial Revolution
a period of rapid growth in manufacturing and industry in the late 1800s
patent
an exclusive right to make or sell an invention
Thomas Alva Edison
American inventor of over 1,000 patents, he invented the lightbulb and established a power plant that supplied electricity to parts of New York City
Alexander Graham Bell
American inventor and educator, his interest in electrical and mechanical devices to aid the hearing-impaired led to the development and patent of the telephone
Henry Ford
Founder of Ford Motor Company, he created the moving assembly line and is often credited with helping to create a middle class in American culture.
Orville and Wilbur Wright
American pioneers of aviation, the went from experiments with kites and gliders to piloting the first successful gas-powered airplane flight and later founded the American Wright Company to manufacture airplanes.
corporation
a business that sells portions of ownership called stock shares
Andrew Carnegie
American industrialist and humanitarian, he focused his attention on steelmaking and made a fortune through his vertical integration method
John D Rockefeller
American industrialist and philanthropist, he made a fortune in the oil business and used vertical and horizontal integration to establish a monopoly on the steel business
vertical integration
the business practice of owning all of the businesses involved in each step of a manufacturing process
horizontal integration
owning all the businesses in a certain field
Leland Stanford
American railroad builder and politician, he established the California Central Pacific Railroad and founded Stanford University
social Darwinism
a view of society based on Charles Darwin’s scientific theory of natural selection
trust
a number of companies legally grouped under a single board of directors
monopoly
a complete control over the entire supply of goods or a service in a particular market
Sherman Antitrust Act
a law that made it illegal to create monopolies or trusts that restrained free traqde
Frederick Taylor
American efficiency engineer, he introduced the manufacturing system known as scientific management that viewed workers as mechanical parts of the production process, not as human beings
American Federation of Labor
an organization that united skilled workers into national unions for specific industries
Knights of Labor
secret society that became the first truly national labor union in the United States
Samuel Gompers
American labor leader, he helped found the American Federation of Labor to campaign for workers’ rights, such as the right to organize boycotts
Terence Powderly
American labor leader for the Knights of Labor, he removed the secrecy originally surrounding the organization, leading to its becoming the first truly national American labor union
collective bargaining
a technique used by labor unions in which workers act collectively to changed working conditions or wages
Haymarket Riot
a riot that broke out at Haymarket Square in Chicago over the deaths of two strikers
