Chapter 18 Flashcards
Broad name for the explosive growth of big business and industry in the United States from 1865-1900.
Gilded Age
Technique of controlling phases of production; pioneered by Andrew Carnegie with steel production.
Vertical Integration
Technique of controlling one stage of production; pioneered by John D. Rockefeller and Standard Oil.
Horizontal Intergration
First attempt to regulate the business practices of railroads
Interstate Commerce Act
Law against trust and monopolies
Sherman Anti-Trust act
Southern Industrial Lag
Description of the south’s industrial and manufacturing capacity lagging behind that of the north
American Federation of Labor
Successful federation of labor unions that pushed for improvements in wages, eight-hour workday, and worker safety
Why did the US experience dramatic industrial growth?
Cheap energy
Technological and business innovations
A large workforce
Ruthless business competition
What two integration helped Rockefeller and Carnegie amass enormous fortunes and business monopolies?
Vertical(Carnegie) and Horizontal(Rockefeller)
True or False: Attempts at regulating business proved unsuccessful during the Gilded Age.
True
Who lagged behind and remained agricultural?
The South
Labor unions used what to push back against the power of big business?
Strikes and Boycotts
True or False: Labor violence did not hurt the reputation of organized labor.
False. They did hurt reputations.