Chapter 17 Note Cards Flashcards
Henry Ford
Who - Henry Ford
What - Created Ford cars
When - 1896
Where - US
Why - Automobile industry became a large part of American society
Frederick Winslow Taylor/Scientific Management
Who - Frederick Winslow Taylor
What - Credited with “scientific management” aka “Taylorism,” where he encouraged employers to subdivide tasks in order to speed up the manufacturing process
When - Early 1900s
Where - US
Why - Would make workers more interchangeable & speed up production
Vertical Integration
Who - Used by Andrew Carnegie
What - Owning every step of the process to create a product
When - 1890s
Where - US
Why - Efficiency & cost
Andrew Carnegie
Who - Andrew Carnegie
What - Owned Carnegie Steel and became one of the wealthiest men in the world; bought out rivals who couldn’t compete with him; practiced vertical integration
When - Opened steelworks in 1873
Where - Pittsburgh, PA
Why - N/A
J. P. Morgan
Who - J. P. Morgan
What - Bought Carnegie Steel to create the US Steel Corporation (controlled nearly ⅔ of steel production in the US)
When - 1901
Where - US
Why - Money
Limited Liability
Who - Investor
What - Investors risked only the amount of their investments & would not be liable for any accumulated debts from the corporation
When - N/A
Where - US
Why - Entrepreneurs could then gather lots of capital
Holding Companies
Who - Rockefeller
What - Central corporate body that would buy up the stocks of members of the Standard Oil trust; therefore established direct & formal ownership of the corporations within the trust
When - 1889
Where - NJ
Why - Response to NJ changing its laws of inc to allow companies to buy other companies; trust was now unnecessary
Horizontal Integration
Who - N/A
What - Combining of multiple firms of the same enterprise into one organization
When - Late 1800s
Where - US
Why - Method of consolidation
Trusts
Who - Pioneered by Standard Oil, perfected by J. P. Morgan
What - Stockholders in individual corporations transfer their stocks to trustees in exchange for shares of the trust
When - 1880s
Where - US
Why - After pool agreements were failing, new techniques of consolidation were rising
Adam Smith
Who - Adam Smith
What - Responsible for the “law of supply and demand”; argued that the economic system was like a delicate machine that was working by the “invisible hand” of market forces
When - Late 1800s
Where - US
Why - Coincided with Social Darwinism
Gospel of Wealth
Who - Andrew Carnegie
What - Book that mentioned that the wealthy should consider all of their money that exceeded their needs as “trust funds” to be used to better the community; the ideology encouraged PHILANTHROPY
When - 1901
Where - US
Why - An alternative to Social Darwinism
Social Darwinism
Who - Herbert Spencer (English philosopher)
What - Adopted Charles Darwin’s “survival of the fittest” ideas to society; only the strongest would survive in the marketplace
When - Late 1800s
Where - US
Why - N/A
Horatio Alger
Who - Horatio Alger
What - Most famous fo the success story; was driven from his pulpit (MA minister) to NY b/c of a sex scandal, where he wrote a novel about boys who rose from “rags to riches”; secretly gay
When - Late 1800s
Where - From MA to NY
Why - Became a folk hero in American culture
Grotesque Luxury (Conspicuous Consumption)
Who - ex. Wealthy New Yorkers
What - Spending lots of money on lavish things to display wealth
When - Late 1800s
Where - US
Why - To look rich; demonstrated growing gap between rich & poor
National Labor Union
Who - William H. Sylvis
What - Had 640,000 members and included many reform groups that had little direct relationship with labor; excluded women; disbanded after the Panic of 1873
When - 1866
Where - US
Why - An attempt to combine the power of multiple labor organizations
American Federation of Labor
Who - Samuel Gompers; men
What - Most important enduring labor group of the country; didn’t want women entering the paid workforce; staged lots of strikes
When - Started 1881, named AFL in 1886
Where - US, Canada
Why - Rejected the Knights of Labor
Knights of Labor
Who - Uriah S. Stephens
What - First genuinely national labor organization; included all workers and most business people (except for lawyers, bankers, liquor dealers, & pro gamblers); loosely organized but included women
When - 1869 to early 1890s
Where - US
Why - Uniting skilled workers
Haymarket Bombing
Who - Strikers and laborers vs police
What - Strikers were holding a protest meeting but were being harassed by city police; when the police told the group to disband, someone threw a bomb; 7 officers were killed, many others injured; in response to the bomb, police fired into the crowd, killing 4 more people
When - 1886
Where - Haymarket Square, Chicago, IL
Why - Was frightening to many citizens and became known as “anarchism” (but was really terrorism)
Homestead Strike
Who - Henry Clay Frick & Andrew Carnegie (created the poor conditions) vs Amalgamated Association of Iron and Steel Workers
What - Homestead plant was part of the Carnegie steel-making process; Frick and Carnegie were attempting to union-bust by reducing wages at Homestead; the Amalgamated called for a strike; Pinkertons were brought in & strikers met the guards at docks with weapons, so battle ensued; people on both sides were killed but Pinkertons surrendered
When - 1892
Where - Homestead plant near Pittsburgh, PA
Why - After strike, gov’t sent troops to Homestead & they had to work
Samuel Gompers
Who - Samuel Gompers
What - A leader of AFL; sexist; was against’ gov’t help b/c he though they would take it away
When - 1880s to 90s
Where - US
Why - Goal was to have workers get bigger material gains from capitalism
Eugene V. Debs
Who - Eugene V. Debs
What - Led American Railway Union; aided in the Pullman Strike
When - 1890s
Where - Chicago was where strike happened
Why - Justice for workers
Pullman Strike
Who - Eugene V. Debs; George M. Pullman
What - Pullman company cut wages by 25% & refused to reduce rent (so it was impossible to live there); workers went on strike & the American Railway Union refused to handle Pullman cars, stopping transport from Chicago to Pacific
When - 1893 to 1994
Where - Pullman, near Chicago, IL
Why - Pres ordered 2,000 troops to Chicago area in response & federal court issued an injunction saying the union could no longer strike
Women’s Trade Union League
Who - Women
What - Looked for protective legislation for women workers
When - 1903
Where - US
Why - Response to exclusion by AFL
