Chapter 3 Gilded Age and The Progressive Era Flashcards
leave alone’ when it comes to economic intervention
Laissez-Faire
trade union combining workers who are engaged in a particular craft or skill but who may work for various employers and at various locations
Craft Union
a person who has become rich through ruthless and unscrupulous business practices
Robber Barons
large companies that controlled an industry or a sector, giving them the ability to control the prices of the goods and services they provided.
Monopoly
Business that is owned by investors that purchase shares of that company.
Corporation
a relationship between persons in which one has the power to manage property and the other has the privilege of receiving the benefits from that property
Trust
an association of workers formed to negotiate collectively with an employer to protect and further workers’ rights and interests
Labor Union
a government grant to an inventor of the right to exclude others from making, using, or selling an invention, usually for a limited period
Patent
a tax charged on goods or services as they move from one country to another.
Tariff
a policy of favoring native inhabitants as opposed to immigrants
Nativism
a significant decline in economic activity spread across the economy
Recession
a monetary system where a country’s currency or paper money has a value directly linked to gold
Gold Standard
an American politician most notable for being the political boss of Tammany Hall
William M. Tweed
A broad ranging philosophy which rejects all forms of coercion and most forms of authority, especially state and government.
Anarchist
a political ideology in the 19th century United States aimed at increasing political and economic equality
Radicalism