EXAM 1 History Flashcards
Joseph Schumpeter
Joseph Alois Schumpeter (1883 - 1950) was an economist and is regarded as one of the 20th century’s greatest intellectuals. He is best known for his theories on business cycles and capitalist development and for introducing the concept of entrepreneurship.
Creative Destruction
By Joseph Schupeter
moments of expansion b/c of
innovation and entrepreneurship
amidst the creativity making new you have the destruction of the old, EX gas vs electric car
Rutherford B. Hayes
As the 19th President of the United States (1877-1881), Rutherford B. Hayesoversaw the end of Reconstruction, began the efforts that led to civil service reform, and attempted to reconcile the divisions left over from the Civil War.
Samuel J. Tilden
Democratic candidate for president in the disputed election of 1876
19 disputed electoral college votes, republicans had more votes, democrats had the popular vote
south gave them the republican seat, but troops would have to be removed from the south, south would make there own rules on how to follow 13th and 15th amendment
south got post master general as a democrat,
Adam Smith
Scottish economist
'’The Father of Economics’’
'’The Father of Capitalism’’.
wrote “handbook of capitalism” - wealth of nations
balance of supply and demand (invisible hand)
Wealth of Nations (1776)
world’s first collected descriptions of what builds nations’ wealth, and is today a fundamental work in classical economics
by Adam Smith
Heinz Family
example of vertical growth
bought the wagons and jar factories
bought raw materials (land)
Michigan Salt Association (1869)
Price War and highly competitive
Idea of a POOL, voluntary, informal aggreement
set the price of salt and doubled it
set regions
Sherman Anti-Trust Act (1890)
Any company that restricts trade must be broken up
U.S. Steel Corporation (1901)
largest company ever made at this time 160,000 workers
Shock City
Chicago
we have the railroads and communication, beginning of 1880s cities tart growing rapidly
A city that is seen as the embodiment of surprising disturbing changes in economic, social, and cultural lives.
Phillip A. Payton
(February 27, 1876 – August 1917) was an African-American real estate entrepreneur, known as the “Father of Harlem”, due to his work renting properties in Harlem, New York City, to African Americans.
Dumbbell Tenement
Law of Unintended consequences
John and Washinton Roebling
Built Brooklyn Bridge
symbol of master of nature through engineering
Lincoln Steffens
Power is what men seek and any group that gets it will abuse it.
Jounalist
Richard Croker
known as “Boss Croker,” was an American politician who was a leader of New York City’s Tammany Hall and a political boss.
There was an “Absence of Leadership” in cities and check and balances in a city
William Tweed
was an American politician most notable for being the “boss” of Tammany Hall, the Democratic Party political machine that played a major role in the politics of 19th century New York City and State.
supposed to cost max of $250,000 but it costed 65 million he kept 65%
Patronage
Machines sometimes have a political boss, often rely on patronage, the spoils system, “behind-the-scenes” control, and longstanding political ties within the structure of a representative democracy.
“Boodle”
Honest Graft
ex taking money off the top of selling a building
Israel Zangwill
wrote “the Melting Pot”
are we a blending of tossed salad (prof)
The Melting Pot (1908)
play written by Israel Zangwill
Rev. Josiah Strong
Put down immigration and saw city’s as corrupting
Pluralistic Integration
place strong expectations of integration on members, rather than expectations of assimilation
Padrone / Enganschista
The padrone system was a contract labor system utilized by many immigrant groups to find employment in the United States, most notably Italian, but also Greeks, Chinese, Japanese, and Mexican Americans. The word ‘padrone’ is an Italian word meaning ‘boss’ or ‘manager’ when translated into English.
Daily Forward
written in Hebrew Yiddesh
a device for ordering their society
Family Migration Chains
Chineses Exclusion Act (1882)
no Chinese laborers were allowed to enter the US
The “Nadir” (1890s)
Low Point of segregation in the south
“strange people” effort to contain people, intolerance, discrimination
Terrance V. Powderley
Began the Secret Society KNIGHTS OF LABOR
believed that capitalism was unfair and the notion of a fraternal society
Everone should be an owner and worker
collapsed after Haymarket Square Riot (1886)
Haymarket Square Riot (1886)
bomb went off at a riot, police and civilians died - They were guilty by association of Knights of Labor
Samuel Gompers
helped to create American Federation
wanted to maximize value of the workers (workers not able to be replaced)
Craft and Skills for “Pure and Simple Unions”
Closed Shop - Factory that only had workers in AFL
Homestead Steel Strike (1892)
Pullman Strike (1894)
both failed, gov intervened, private armies idea that 1890 were be a fear of class warfare
BLACK LIST - name of people that joined a union
YELLO DOG CONTRACT - people signed contract saying they would not join a union
L. Frank Baun
wrote the Books Wizard of Oz as a symbolic story
context of late 19th century
why and how farmers revolted
Farmers search for order with GRANGES (small groups)
Crop-lien system
farmers used their crop as a lien
Patrons of Husbandry (Grange)
small groups got together for talks and educate
Subtreasury Plan
US would own storage, farmers could hold crops fora loan @ a lower interest rate
Pendleton Act (1883)
had to take a test for civil service, doesn’t mean anything for farmers
Sherman Silver Purchase Act (1890)
In 1890, an act was passed so that the treasury would by 4.5 million ounces of silvermonthly and pay those who mined it in notes that were redeemable in either gold or silver. This law doubled the amount of silver that could be purchased under the Bland-Allison Law of 1878.
William McKinley
William McKinley Jr. was the 25th president of the United States, serving from March 4, 1897, until his assassination six months into his second term.
Was against dem William Jennings Byran who wanted to bring the gold standard
