EXAM 1 History

Question 1

Joseph Schumpeter

Answer 1

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.

Question 2

Creative Destruction

Answer 2

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

Question 3

Rutherford B. Hayes

Answer 3

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.

Question 4

Samuel J. Tilden

Answer 4

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,

Question 5

Adam Smith

Answer 5

Scottish economist

'’The Father of Economics’’

'’The Father of Capitalism’’.

wrote “handbook of capitalism” - wealth of nations

balance of supply and demand (invisible hand)

Question 6

Wealth of Nations (1776)

Answer 6

world’s first collected descriptions of what builds nations’ wealth, and is today a fundamental work in classical economics

by Adam Smith

Question 7

Heinz Family

Answer 7

example of vertical growth

bought the wagons and jar factories

bought raw materials (land)

Question 8

Michigan Salt Association (1869)

Answer 8

Price War and highly competitive

Idea of a POOL, voluntary, informal aggreement

set the price of salt and doubled it

set regions

Question 9

Sherman Anti-Trust Act (1890)

Answer 9

Any company that restricts trade must be broken up

Question 10

U.S. Steel Corporation (1901)

Answer 10

largest company ever made at this time 160,000 workers

Question 11

Shock City

Answer 11

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.

Question 12

Phillip A. Payton

Answer 12

(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.

Question 13

Dumbbell Tenement

Answer 13

Law of Unintended consequences

Question 14

John and Washinton Roebling

Answer 14

Built Brooklyn Bridge

symbol of master of nature through engineering

Question 15

Lincoln Steffens

Answer 15

Power is what men seek and any group that gets it will abuse it.

Jounalist

Question 16

Richard Croker

Answer 16

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

Question 17

William Tweed

Answer 17

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%

Question 18

Patronage

Answer 18

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.

Question 19

“Boodle”

Answer 19

Honest Graft

ex taking money off the top of selling a building

Question 20

Israel Zangwill

Answer 20

wrote “the Melting Pot”

are we a blending of tossed salad (prof)

Question 21

The Melting Pot (1908)

Answer 21

play written by Israel Zangwill

Question 22

Rev. Josiah Strong

Answer 22

Put down immigration and saw city’s as corrupting

Question 23

Pluralistic Integration

Answer 23

place strong expectations of integration on members, rather than expectations of assimilation

Question 24

Padrone / Enganschista

Answer 24

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.

Question 25

Daily Forward

Answer 25

written in Hebrew Yiddesh

a device for ordering their society

Question 26

Family Migration Chains

Question 27

Chineses Exclusion Act (1882)

Answer 27

no Chinese laborers were allowed to enter the US

Question 28

The “Nadir” (1890s)

Answer 28

Low Point of segregation in the south

“strange people” effort to contain people, intolerance, discrimination

Question 29

Terrance V. Powderley

Answer 29

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)

Question 30

Haymarket Square Riot (1886)

Answer 30

bomb went off at a riot, police and civilians died - They were guilty by association of Knights of Labor

Question 31

Samuel Gompers

Answer 31

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

Question 32

Homestead Steel Strike (1892)

Pullman Strike (1894)

Answer 32

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

Question 33

L. Frank Baun

Answer 33

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)

Question 34

Crop-lien system

Answer 34

farmers used their crop as a lien

Question 35

Patrons of Husbandry (Grange)

Answer 35

small groups got together for talks and educate

Question 36

Subtreasury Plan

Answer 36

US would own storage, farmers could hold crops fora loan @ a lower interest rate

Question 37

Pendleton Act (1883)

Answer 37

had to take a test for civil service, doesn’t mean anything for farmers

Question 38

Sherman Silver Purchase Act (1890)

Answer 38

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.

Question 39

William McKinley

Answer 39

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