Chapter 19 The Incorporation of America Flashcards
What did Herbert Spencer believe?(3)
- > competition was “the law of life” and resulted in the “survival of the fittest” in human society
- > laissez faire
- > financial traits are inheritted
What was the idea behind rugged individuals?
a true individual will solve his/her own problem and does not need the government to help
What term did Mark Twain use to describe this time period?
the Gilded Age
What are Robber Barons
industrial leaders who were considered to be “robbing” from the people for their own profits
What are Industrial Statesmen?
industrial leaders who is improving society
What is horizontal integration?
a monopoly of a single product for an entire market
What is vertical integration?
a monopoly of an entire production for a single product
What are pools?
3 or 4 members who divide a market so everyone makes a profit
What are trusts?
a board that is a combination of several companies that makes decisions for all companies to maximize profit.
What are interlocking directorates?
boards of directors of different companies having sufficient members in common to ensure that the companies involved are under the same control by buying stocks
What is the original purpose of oil?
lamp fuel
What is Frederick W. Taylor the father of?
Scientific Management
What was the first U.S. nation wide union?
National Labor Union
Who was Terrance V. Powderly?
the head of the Knights of Labor
What did knights of labor promote?
an 8 hour workday
What was an important manufacturing innovation at the end of the nineteenth century??
continuous production
Between 1865 and 1900, the growth of big business in America was facilitated by what to things??
horizontal integration and vertical combination
To justify the wealth, many American businessmen embraced the ideology of what??
social Darwinism
The American Federation of Labor appealed to whom??
skilled workers and concentrated on improving their wages
What were the two most important urban transportation innovations between 1870 and 1900??
street cars and elevated railroads
Thorstein Veblen described the wealthy class’s extravagance as what??
conspicuous consumption
The famous educator who emphasized industrial training for African American students was who??
Booker T. Washington
Towards the end of the 1800’s what became the major form of popular entertainment?
sports such as baseball
Who is Fredrick Omsted?
the father of American landscape architecture
Who was James Duke and what did he do?
a U.S. tobacco and electric power industrialist best known for the introduction of modern cigarette manufacture
Who was the main founder of the Standard Oil Company?
John D. Rockefeller
What did the Sherman Antitrust act do?
prohibits certain business activities that federal government regulators deem to be anticompetitive
Who wrote the Gospel of Wealth?
Andrew Carnegie
What was the first federation of labor unions in the US?
American Federation of Labor
Who was H.H. Richardson?
prominent American architect
An important factor in the rapid development of industry in the United States during the last half of the 19c was?:
the availability of capital for investment purposes.
A long-range influence of Samuel Gompers on the American labor movement was his advocacy of?:
non-involvement in party politics.
J. P. Morgan monitored his competition by placing officers of his bank on the board of companies that he wanted to control. This method was known as a(n)?:
interlocking directorate.
