Chapter 13 Flashcards
Time zones
1880s
24 time zones
Because of trains and railroad lines
Bessemer process
Makes steel affordable
Needed for railroads, bridges, skyscrapers
Laissez-Faire
Allowed businesses to operate under minimal government regulation
Andrew Carnegie
Steel
Rags to riches
John D. Rockefeller
Oil
Horizontal integration
Lower prices to buy competitors out of business then buy them out then raise the prices
Rockefeller first to use this
Ohio state law- prevents one company from owning another, Rockefeller couldn’t buy out competitors
Vertical integration
Increased power by gaining control of many different businesses, companies reduce cost and charge higher prices to competitors
No middle man
“Natural selection”
Only the fittest survived to reproduce
“Robber barons”
Shared capitalist
Rich wealthy men that cheat Americans out of things, workers live bellow poverty level
Why was Bill Gates in court?
Monopoly
Social Darwinism
Declared wealth was a measure of ones inherent value and those who had it were the most “fit”
Used to justify beliefs and conditions
Trust=
Monopoly
ICC
Interstate commerce commission
Oversee railroad operations
Sherman Antitrust Act
Outlawed any trust operated “in restraint of trade or commerce among the several states”
Sweatshops
Small, hot, dirty, dark workshops
Main workshops
Little kids and women
Paid nest to nothing
Small hands help getting into machines
Company towns
Owned by business rented by workers
Had grocery stores
Paid in credit and had to buy from them
Collective bargaining
Negotiating as a group for higher wages or better working conditions
One form is strike
Knights of Labor
Uriah Smith Stephens founded it
Broad social reform
Included all workers
American Federation of Labor
Samuel Gompers
Focused specifically on wages, hours and conditions
Opposed women joining
Expensive to join so during strike could pay people
Wasn’t as successful because of money entry
Pullman workers strike
Shut down railroads
Protesting cuts and layoffs
Troops were called in to end it
Homestead strike
Strike about steel industry
Tools called in to end it
What side does the federal government take…. The workers or the business?
Business
