Chapter 17

Question 1

1. Sources of indusrial strength

Answer 1

Sources of industrial strength.
o Large and growing labor supply
o Emergence of a talented ambitious, ruthless group of entrepreneurs
o Federal Gov. eager to assist growth of business
o Great and expanding domestic market for the products of manufacturing
o Surge in technological innovation

Question 2

2. Trace the growth of the steel

Answer 2

Steel-

o (Carnegie) Bessemer’s Process-birth of industry

Question 3

2. Trace the growth of the oil

Answer 3

Oil-

o (Rockefeller) standard oil and competition

Question 4

2. Trace the growth of the railroad industries

Answer 4

Rail Roads-

o (Vandervuilt) transportation of goods (Emerging technology utilized commands a high price)

Question 5

3. How was the corporation important to the economic expansion?

Answer 5

• limit liability
• more capital
• won’t lose company if own stock(passes on to others)
• generate unlimited capital

Question 6

4. Define Social Darwinism

Answer 6

Darwinism-
o Competition, government, and the welfare state
o Only fittest individual survived and flourished in the marketplace

Question 7

4. Define Philanthropy

Answer 7

Philanthropy-

o Love of humanity then overtime meant giving by, wealthy individuals

Question 8

5. Define the Gospel of Wealth

Answer 8

-Wealthy should consider all revenues in excess of their own needs as “trust funds” to be used for the good of the community
(help poor to help themselves)

Question 9

6. How would Lester F. Ward and Henry George resolve the conflicts in society?

Answer 9

• Share property ownership and redistribute wealth to eliminate small number of wealthy ppl and large number of poor ppl
  (gov. distribute wealth through society)

Question 10

7. What is the message behind Horatio

Alger books?

Answer 10

-Young men’s rise “from rags to riches” through character and certain qualities

Question 11

8. Describe the new workforce

Answer 11

Work Force-

o Expanded dramatically as demand for factory labor grew

Question 12

8. Describe the new workplace

Answer 12

Work Place-

o Unsafe or unhealthy factories where industrial accidents were frequent and severe

Question 13

8. Describe the new labor conditions

Answer 13

Labor Condition-
o Vulnerable to boom-and-bust cycle of industrial economy; repetitive routine asks requiring little skill on a strict and monotonous schedule (now performed by machines)

Question 14

9. What were the differences between the Knights of Labor and the AFL? Role of the strike and weaknesses of the labor union movement.
   Knights of Labor

Answer 14

Knights of Labor-

o Open to all including black/white women could not collect dues

Question 15

9. What were the differences between the Knights of Labor and the AFL? Role of the strike and weaknesses of the labor union movement.
   AFL

Answer 15

AFL-

o Women and blacks were excluded -they had stronger leaders which allowed them to be successful