Gilded Age Flashcards
Andrew Carnegie
A leading industrialist in the steel industry, he utilized vertical integration to dominate the market. Carnegie later advocated philanthropy through his “Gospel of Wealth,” shaping the era’s view on wealth distribution.
Gilded Age
A period marked by rapid industrialization, economic growth, and extreme wealth disparity. It was characterized by political corruption, corporate power, and social inequalities, laying the groundwork for the Progressive Era reforms.
panic of 1873
A financial crisis triggered by the collapse of Jay Cooke & Co., leading to a severe economic depression. It exposed the vulnerabilities of the rapidly expanding post-Civil War economy and affected workers and businesses alike.
Knights of Labor
A labor organization that sought to unite workers across skill levels, gender, and race to advocate for broad social reforms. It declined after the Haymarket Affair but played a key role in the early labor movement.
Social Darwinism
A theory applying Darwin’s concept of “survival of the fittest” to human society, justifying economic inequality, imperialism, and laissez-faire capitalism. It was used to defend the wealth and power of industrial elites.
Chinese Exclusion Act
A 1882 law that banned Chinese immigration to the U.S., the first major immigration restriction based on ethnicity. It reflected widespread nativism and racial discrimination of the time.
Sherman Anti-Trust Act
A 1890 law aimed at breaking up monopolies and promoting competition. It marked the beginning of federal efforts to regulate large corporations and curb corporate power, though initially weak in enforcement.
Homestead Steel Strike
A violent 1892 strike at Carnegie Steel Company, ending in defeat for the workers. The strike highlighted tensions between labor and capital and marked a turning point in labor relations.
Coxey’s Army
